Armenia ranks 43th in 2015 Global AgeWatch Index

Six African countries, including Malawi and Mozambique, have been ranked among the 10 worst places to grow old, according to HelpAge worldwide.

Ian Yates, chief executive of COTA, previously known as the Council on the Ageing, said old-age poverty in Australia was “significant”, but the report may have overstated the rate because it includes people aged 60-65 on Newstart unemployment benefits.

The list ranks 96 countries on their treatment of the elderly by looking at income, health, employment, education and social connections.

Norway, Sweden and Germany follow closely behind and the United Kingdom takes the tenth spot when it comes to the happiness, wellbeing and financial stability over the over 60s.

The wellbeing of the older people has arguably declined in most countries across the globe, HelpAge Watch Index data reveals. The average life expectancy at 60 across all featured countries is 21 years, according to the index. “The Index has also shown that a number of countries still lack vital statistics of older people and we would like to see them feature in the report in the future”.

By the time the Sustainable Development Goals reach their fruition in 2030, the proportion of people aged 60 and over globally is predicted to rise to 16.5 per cent, up to three-quarters of whom will live in developing countries. “Rather than ranking 62nd out of 96 countries, we are likely to be in the top 20”.

This year’s Global AgeWatch Index reveals new data, rankings, based on four key domains: income, health, capability and enabling environment, categorizing 96 countries on how well they support older people.

Other stand-out performers include Iceland and the Czech Republic, which has the world’s lowest rates of old-age poverty (1.6 and 1.7 per cent, respectively). Around the world, 46% of women aged between 55 and 64 are economically active, compared to over 73% of men. This increases the risk of poverty among older women. “It shows us which countries are preparing well for this unprecedented demographic change and demonstrates that when governments plan ahead and invest in their ageing populations, society as a whole benefits”. In the 1960s, Japan adopted a comprehensive welfare policy, introduced universal health care, a universal social pension, and a plan for income redistribution.