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Aging and Financial Inclusion: An OpportunityKey
Messages
Within 25 years, the percent of the world’s population over age
60 willnearly double. !"#$" #& '()'$*#$" +'&, #$ (-)-./0#$"
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Older people at the base of the pyramid have varied and
unpredictableincomes. Financial services can facilitate the income
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Social Pensions should extend to cover everyone, especially
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People at the base of the pyramid need means to contribute to
pensions
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Linking pensions with other financial instruments will promote
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Lenders and insurers should raise or eliminate the age caps that
often keepolder people from accessing formal credit and insurance
in light of new
demographic realities, individual variation – and fairness. S$
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Financial institutions can improve their interactions with older
people andintegrate increased client protection and financial
education, to increasetrust. U'*C /+ ,21&, #& /$- /+ ,5-
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This summary is based on Aging and Financial Inclusion: An
Opportunity , a report that examines theunmet financial needs
of the rapidly growing global aging population, particularly in the
developingworld. The report presents the findings of the joint
project on aging and financial inclusion from theCenter for
Financial Inclusion at Accion and HelpAge International with
support from the MetLifeFoundation. The project was prompted by the
demographic review carried out as part of CFI’s Financial
Inclusion 2020 project, which drew attention to the rapidly
aging global population and to theimmediate challenges aging poses,
particularly in middle income countries. CFI joined forces
withHelpAge because of HelpAge’s deep knowledge about global aging
issues.
About HelpAge
HelpAge International is a non-profit organization and aglobal
network of over 100 affiliated organizations in 70developing
countries, which work together to improvethe lives of older people.
We work to ensure that olderpeople are included in international
development andhave access to emergency relief, income
security,health services and human rights. HelpAge USA, theUS-based
affiliate, raises awareness about globalaging and works with our
global network of affiliatesand partners to implement programs and
policies thataddress the needs of older people in the
world’spoorest communities. To learn more about HelpAge,visit
www.helpageusa.org.
About the Center for FinancialInclusion at Accion
The Center for Financial Inclusion at Accion (CFI)is an
action-oriented think tank working towardfull global financial
inclusion. Constructing afinancial inclusion sector that reaches
everyonewith quality services will require the combined
efforts of many actors. CFI contributes to fullinclusion by
collaborating with sector participantsto tackle challenges beyond
the scope of any oneactor, using tools that include
research,convening, capacity building, andcommunications. For more,
visitwww.centerforfinancialinclusion.org
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