Vietnam is among countries with the fastest aging rate in the world, with the number of people aged 60 or above now accounts for some 10 per cent of its population. Nevertheless, aging population also impacts the economy in a positive manner, given comprehensive proactive policies for the elderly available.
Vietnam has an estimated 10 million older adults. This number is expected to rise to 19 million by 2030 and 28 million by 2050. This raises concerns about welfare and pensions for the elderly at a time when Vietnam is focusing on economic integration and requires a large labour force. However, by restructuring policies relating to social security, pension and especially reshaping education plans, the country could see a more prosperous, independent living of the elderly and the younger generations.
