How Sustainable is the Familial Support of Elderly in Asia?

This paper examines the extent of familial monetary support for the elderly in China, India, Indonesia, Japan, Korea, the Philippines, and Thailand, representing diverse public social security and assistance programs for the elderly across Asian countries. Using the National Transfer Accounts framew...

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Bibliographic Details
Published in:Journal of population ageing 2018-12, Vol.11 (4), p.349-366
Main Authors: Ladusingh, Laishram, Maharana, Barsharani
Format: Article
Language:English
Subjects:
Age
Aging
Altruism
Assets
Bankruptcy
Consumption
Demography
Families & family life
Fertility
Geriatrics
Geriatrics/Gerontology
Medicine/Public Health
National security
Older people
Population
Public opinion
Retirement
Security systems
Social programs
Social Sciences
Social security
Sociology
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Summary:This paper examines the extent of familial monetary support for the elderly in China, India, Indonesia, Japan, Korea, the Philippines, and Thailand, representing diverse public social security and assistance programs for the elderly across Asian countries. Using the National Transfer Accounts framework, Japan was found to experience the highest and China the lowest lifecycle deficit (LCD). Except Indonesia, the consumption of public and private goods and services at old ages is fast increasing in the Asian countries. In Japan public transfer supports 39.4% of the LCD of the 60 plus population and private asset-based reallocation, which includes liquidation and sale of assets, finances 33.7%. On the other in Indonesia and India LCD of elderly is largely 70.5 and 63.9% respectively are met by private asset-based reallocation. Public support for the 60 plus population in South Korea constitutes 22.9% of the LCD, whereas 52.6% is met by asset-based reallocation. The corresponding figures for China are 41.3 and 32.2% respectively.
ISSN:1874-7884
1874-7876
DOI:10.1007/s12062-017-9192-4