Minister Urges Measures for Ageing Population

Minister of Social and Family Development Dr Aishath Shiham has called for measures to address the anticipated increase in the senior citizen population.

According to the latest census, youth currently constitute the majority of the Maldivian population. However, projections indicate that by 2054, the elderly will become the predominant demographic group.

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Speaking at the Maldives Finance Forum, organised by the Maldives Pension Administration Office (MPAO) at Kurumba Maldives, a resort 15 minutes from the capital, Minister Shiham highlighted the challenges associated with an ageing population. She noted that while these challenges are significant, they also present opportunities to harness the potential of the country’s human resources and other benefits to positively influence the economy.

The census data shows that 20% of the population is under 15 years old, while 76% are aged 15-64, forming the workforce. Senior citizens, those over 65, currently account for 4% of the population.

Minister Shiham stressed the importance of preparing for demographic shifts, noting that the elderly population is expected to rise to 7% by 2030 and double to 14% by 2050. The median age of the Maldivian population is projected to increase from 32.1 years to 47 years by 2050.

The Minister also mentioned ongoing government efforts to maximise the benefits of the youth population, including initiatives to enhance career development and provide more opportunities for young people.

Minister Shiham acknowledged the lack of measures in previous years to secure income for the elderly. She revealed that a new framework has been developed to establish a robust and sustainable system ensuring economic security for senior citizens.

The new framework aims to provide a solid foundation for economic security in a progressive and sustainable manner, she added.