Planning for Old Age

Bangladesh, home to approximately 160 million people, has experienced a speedy decline in its “birth rate” and “childhood mortality”. In addition to these two changes, there has also been an increase in life expectancy. The proportion of elderly population of the country is expected to grow by over 200% between the years 2000 and 2030. This indicates that by 2030, the elderly populace of Bangladesh is likely to be 17 million.

Alongside this aging population, our society is undergoing many more transformations, for instance modernization, urbanization and more people are moving from being extended to nuclear families. And these ongoing transformations are manipulating the current status and control of the elderly people in our community. For Bangladesh, population aging is a cause of bigger concern because unlike the developed countries, it has low income, insufficient resources, and has less time to adjust with the new changes. Thus, it amplifies the difficulty of older population of our society, particularly the underprivileged and the female elderly. This has lead to a substantial increase in elder abuse and neglect.

Elder abuse has many dimensions including psychological, physical, sexual, abandonment and financial exploitation. Due to the non-existence of a nationally perceived policy on ageing, the smaller programmes by several development firms lack direction and coordination in their work. Moreover, in old age, people are exposed to more diseases, illness, injuries and thus, expense on the health care facilities for the elderly population is greater relative to the younger people. Even then, there is not enough emphasis given on their nutritional needs and well-being. The elderly population is facing more problems such as scarcity of fresh water, sanitation facilities, lack of proper healthcare, mistreatment, etc.

At present, there are very few public programs supporting the elder citizens of our society. Although both private and public sector jobs often provide pension, the amount they get doesn’t suffice for a decent living. Thus, the family’s support is the primary source of living for an elderly of our community. Currently, there are about three types of government facilities accessible to the elderly, and they are, Old Age Allowance Program (OAAP), help for widowed and insolvent women, and old age homes. OAAP is an arrangement for the elderly, in which a number of men and women from every managerial division, is granted approximately Tk100 for each month. This monetary support is given on a “priority basis” just to those old people who are not in good health or have impairment, does not acquire any land and whose yearly earning is below Tk.3000. Quite naturally, the program is insufficient relative to the large number of needy elders in our society, and the amount given is inadequate in meeting their needs.

In the traditional context of Bangladesh, rarely individuals construct a financial plan for their old age support. Parents work all their life to spend on the children’s well being and by the time old age comes, ownership of assets is also transferred to them. Often, the financial dependency leads to a feeling of ‘uselessness’ and leads to elder abuse. It is the lack of proper financial planning for the old age that stands as a prime factor for the mistreatment of elders. When parents reach old age at an average age of 60, the children are at the middle of a career growth with their own family to care for. With limited income and growing expenditure, dependency on children for financial stability often results in the neglect and abuse.  Hence, it is essential for the older generation to adhere to the ownership of adequate funds or assets and plan for a secure independent-financial support in old age. And at the same time, it is also important for every working individual to plan ahead for future financial independence in their old age.

Other ways to improve the elderly living standard is to increase public welfare services for the elderly, by developing more old age homes and providing upgraded quality of service.  Also, “micro and macro level counseling” may be used as an approach to eradicate stereotyping the elderly people, and encourage individuals to be engaged in more services catering to the elder citizens. Bangladesh can also bring the concept of “Paid Home Helper”, which has previously been used in many developed countries. Under this concept, the helper assists the elderly in their own home which allows the elderly to be more comfortable.

At the current economic and social state, while government support is important, individual awareness and planning for old age sustenance is even more imperative. Although as a nation family bonds are held high, elder abuse and neglect is also a prevailing challenge. It is time to break free from the conventional way of thinking and to independently prepare for one’s own old age rather than expecting old age care from anyone else. It is essential to hold the ownership of financial wealth and to systematically plan ahead for financial independence in old age to avoid old age abuse and neglect. 

Planning for Old Age

Bangladesh, home to approximately 160 million people, has experienced a speedy decline in its birth rate and childhood mortality. In addition to these two changes, there has also been an increase in life expectancy. The proportion of elderly population of the country is expected to grow by over 200% between the years 2000 and 2030. This indicates that by 2030, the elderly populace of Bangladesh is likely to be 17 million. Alongside this aging population, our society is undergoing many more transformations, for instance modernization, urbanization and more people are moving from being extended to nuclear families. And these ongoing transformations are manipulating the current status and control of the elderly people in our community. For Bangladesh, population aging is a cause of bigger concern because unlike the developed countries, it has low income, insufficient resources, and has less time to adjust with the new changes. Thus, it amplifies the difficulty of older population of our society, particularly the underprivileged and the female elderly. This has lead to a substantial increase in elder abuse and neglect. Elder abuse has many dimensions including psychological, physical, sexual, abandonment and financial exploitation. Due to the non-existence of a nationally perceived policy on ageing, the smaller programmes by several development firms lack direction and coordination in their work. Moreover, in old age, people are exposed to more diseases, illness, injuries and thus, expense on the health care facilities for the elderly population is greater relative to the younger people. Even then, there is not enough emphasis given on their nutritional needs and well-being. The elderly population is facing more problems such as scarcity of fresh water, sanitation facilities, lack of proper healthcare, mistreatment, etc. At present, there are very few public programs supporting the elder citizens of our society. Although both private and public sector jobs often provide pension, the amount they get doesnt suffice for a decent living. Thus, the familys support is the primary source of living for an elderly of our community. Currently, there are about three types of government facilities accessible to the elderly, and they are, Old Age Allowance Program (OAAP), help for widowed and insolvent women, and old age homes. OAAP is an arrangement for the elderly, in which a number of men and women from every managerial division, is granted approximately Tk100 for each month. This monetary support is given on a priority basis just to those old people who are not in good health or have impairment, does not acquire any land and whose yearly earning is below Tk.3000. Quite naturally, the program is insufficient relative to the large number of needy elders in our society, and the amount given is inadequate in meeting their needs. In the traditional context of Bangladesh, rarely individuals construct a financial plan for their old age support. Parents work all their life to spend on the childrens well being and by the time old age comes, ownership of assets is also transferred to them. Often, the financial dependency leads to a feeling of uselessness and leads to elder abuse. It is the lack of proper financial planning for the old age that stands as a prime factor for the mistreatment of elders. When parents reach old age at an average age of 60, the children are at the middle of a career growth with their own family to care for. With limited income and growing expenditure, dependency on children for financial stability often results in the neglect and abuse. Hence, it is essential for the older generation to adhere to the ownership of adequate funds or assets and plan for a secure independent-financial support in old age. And at the same time, it is also important for every working individual to plan ahead for future financial independence in their old age. Other ways to improve the elderly living standard is to increase public welfare services for the elderly, by developing more old age homes and providing upgraded quality of service. Also, micro and macro level counseling may be used as an approach to eradicate stereotyping the elderly people, and encourage individuals to be engaged in more services catering to the elder citizens. Bangladesh can also bring the concept of Paid Home Helper, which has previously been used in many developed countries. Under this concept, the helper assists the elderly in their own home which allows the elderly to be more comfortable. At the current economic and social state, while government support is important, individual awareness and planning for old age sustenance is even more imperative. Although as a nation family bonds are held high, elder abuse and neglect is also a prevailing challenge. It is time to break free from the conventional way of thinking and to independently prepare for ones own old age rather than expecting old age care from anyone else. It is essential to hold the ownership of financial wealth and to systematically plan ahead for financial independence in old age to avoid old age abuse and neglect.