The Role of Social Protection & Jobs in an Aging World
Demographic change is increasingly shaping our future. Globally, people above the age of 65 already outnumber children under 5 and over two-thirds of them live in less developed regions of the world. Global aging is a triumph of development made possible through rapid increases in life expectancies and falling fertility. It brings new opportunities but also challenges for governments, individuals, households, communities, and economies. Countries need to address these challenges; they also have to adapt their policies and programs to fully reap the societal and economic benefits of aging. The World Bank Social Protection and Jobs (SPJ) team is engaging with countries on various aspects of societal aging through policy, technical assistance, lending, and analytical work to help them manage the aging transition. Their ability to adapt will determine their future prosperity and social stability. For more details on our work see our website.