UN says world not prepared for expanding elderly population

According to a global study conducted by the United Nations and an elder rights group, HelpAge International, the world is not prepared to support the expanding number of elderly people.

With people ageing faster than ever before, the nations are simply not working quickly enough to cope with the grey section of the population.

The study reveals that Sweden tops the list when it comes to social and economic well-being of elders in 91 countries, while Afghanistan features at the bottom of the list.

According to the study, by 2050, for the first time in history, seniors over the age of 60 will outnumber children under the age of 15.

The UN study found that the fastest ageing countries are the developing ones like Jordan, Laos, Mongolia, Nicaragua and Vietnam, where the number of older people will more than triple by 2050.

According to Fox News, the world's rising economic powers, called BRICS nations of Brazil, Russia, India, China and South Africa, rank lower in the index than some poorer countries such as Uruguay and Panama.

Chief executive of HelpAge International, Silvia Stefanoni said that many governments have resisted tackling the issue partly because it is viewed as hugely complicated, negative and costly, which is not necessarily true, adding that Japan and Germany have among the highest proportions of elders in the world, but also boast steady economies.

Stefanoni further explained that there is no evidence that an aging population is a population that is economically damaged.

The study found that wealthy nations, on the other hand, are better prepared for ageing than the poorer ones in terms of social support, education, health coverage, and pension systems.