Philippines to become 'aged society' by 2028; CPD sees development opportunities

The Philippines is projected to be classified as an "aged society" by 2028, according to the Commission on Population and Development (CPD). This classification, based on United Nations criteria, signifies that the proportion of the population aged 65 and above will reach 7%. As of 2024, the working-age population (15 to 65 years old) constitutes 66.2% of the Philippines' total population. The younger demographic (0 to 14 years old) accounts for 27.7%, while those aged 65 and above make up 6.1%. This latter group is expected to approach the 7% threshold by 2028. CPD Deputy Executive Director III Lolito Tacardon highlighted that the current period presents a "time-bound opportunity" for the Philippines to advance its socioeconomic development. He suggested that if the government can generate more employment opportunities, the large working-age population could lead to improved incomes and savings, thereby contributing to the economy in the long term. However, this window of opportunity is finite. Tacardon noted that by around 2050, the working-age population is expected to begin declining, with a corresponding increase in the proportion of older individuals. Therefore, maximizing the current "window for development" is crucial. Furthermore, Tacardon emphasized that family planning can serve not only to manage population growth but also to enhance the quality of life. He pointed out that women often face choices between having children and participating in the labor force. Family planning, he argued, can support women in pursuing their personal aspirations and potentially allow for simultaneous engagement in both family and professional life, thereby upholding reproductive rights. The demographic shift in the Philippines is expected to necessitate a review of economic policies and social welfare systems, influencing the nation's future development strategies. Source: GMA News Philippines