Aging and Social Security system in Nepal

Abstract

With the increasing life expectancy, the social security of older persons is an issue of growing concern. Population aging is taking place rapidly in recent decades in Nepal. This paper discusses the aging situation and social security of Nepalese older people. For the purpose of this paper secondary data and literature is used as found through google search. Data shows, fertility and mortality are decreasing and average life expectancy, as well as the proportion of the older population, is increasing rapidly in Nepal. The aging population has resulted in problems on the social-cultural, economic, demographic, labor, health, and care of the elderly. Traditionally older people were cared for by family members in Nepal too. In society, culturally taking care of parents is considered the children’s Dharma (literally duty). On the other hand, modernization, industrialization, and the migration of children have created pressure on the traditional living arrangement and care of older people. Nepal’s government also provides Nepalese Rs. 4000 of old age allowances to her citizens without direct contribution for this purpose. The total amount of money spent in the social security of older persons is going to exceed more than 10% of the National budget in the coming days. So, the old age allowances although very popular among the elderly but going to be very hard to sustain in the coming days as the number of older persons is increasing. The government needs to identify the issues of the elderly and need to develop sustainable policies for the quality-of-life-increasing aging populations.