Prudential Vietnam Assurance Private Ltd. (Prudential Vietnam) organized the Aging Summit 2022 with the subject “Aging Population – Opportunities and Challenges for the Millennial generation”. The program brought together the Institute of Labour, Science and Social Affairs – ILSSA, the Institute of Social and Medical Studies – ISMS and media partner Vietcetera. The event was broadcast live on VnExpress’s online newspaper and Fanpage.
Aging Summit 2022 was the culmination in a series of activities of the “Independent Seniority” project, initiated in 2020 by Prudential Vietnam and extended to date. The purpose of the summit was to raise awareness of the aging population in Vietnam and to motivate the youth to immediately create a practical plan to follow and achieve an independent senior life.
Mr. Phuong Tien Minh – CEO of Prudential Vietnam stressed: “ I am pleased that Prudential Vietnam has had the opportunity to work with government agencies in general and the Institute of Labour, Science and Social Affairs (ILSSA) in particular to support aging projects in Vietnam. Adaptation to an aging population and sustainable social development are receiving increasing attention from governments, policy makers, businesses and citizens in general. As a life insurance corporation, Prudential always cares about social issues. In addition to coordinating activities with specialist research firms and supporting projects related to ageing, Prudential has always strived to raise awareness and encourage citizens to be proactive in planning and preparing for an independent future.”
Phuong Tien Minh – CEO of Prudential Vietnam
Dr. Bui Ton Hien, director of the Institute of Labour, Science and Social Affairs (ILSSA) shared: “Due to the research results and the research, the level of readiness and preparedness for the independent old age of middle-aged people is not high. On the other hand, the problem of aging is a major threat: as the population is aging rapidly and the social security system is still young, the economic resources of the country are being limited.”
“We greatly appreciate Prudential Vietnam’s collaboration and support over the years in implementing critically important research activities and workshops, to provide scientific evidence for development and policy making to adapt to the aging population and to “actively aging” or “successful aging” of Vietnam in decades to come. We greatly appreciate the efforts and important contributions of companies in policy advisory activities, raising awareness among Vietnamese people and influencing sustainable social development.” – dr. Bui Ton Hien shared more.
As part of the event, representatives from the Institute of Labour, Science and Social Affairs and Institute of Social and Medical Studies – their professional research partners who have collaborated with Prudential Vietnam since the beginning of the project – gave presentations based on the study. “Preparing for Independent Seniority” (2021) and research “Awareness and action to ensure income security for independent seniority of the middle-aged population” (2022). Measures and actions were proposed to encourage the preparedness of the 30-44 age group to ensure income security for independent living in old age.
With two lively discussion sessions, the event also caught the attention of guests watching online via the online newspaper VnExpress. The first panel discussion on “Aging Population: Opportunities or Challenges?” gave the public an overview of the rapid aging of the population in Vietnam.
In this discussion, Dr. Bui Sy Loi – former deputy chairman of the National Assembly’s Social Affairs Committee noted that the need to solve social security problems is similar to finding solutions for economic growth.
Currently, Vietnam’s insurance system includes state, commercial and other economic sectors. Therefore, Dr. Bui Sy Loi that there should not be an exclusive insurance system needed to balance the social security foundation and clearly identify who was left behind to improve care. In addition, he also proposed expanding and diversifying types of insurance, combining health insurance and private life insurance to meet people’s needs.
In the second panel discussion, the topic “Aged, then?” refers directly to Millennials – who will be directly affected and impacted by the rapid aging of the population. The session provided a multi-dimensional perspective of young people in this group and revolved around the topics of finances, health, family and social cohesion, as well as the expectations of old age, so that viewers can find enlightenment on their way to an independent, peaceful old age.
Earlier in early November, Prudential Vietnam officially launched the “Free At 50” page with summary information based on the research report “Preparedness for Independent Seniority” conducted by the Institute of Social and Medical Studies and in collaboration with Prudential Vietnam and the Institute of Labour, Science and Social Affairs. It is expected to become a useful information library for the community, helping everyone to find solutions for independent seniority, such as starting with simple steps, such as preparing for four aspects, namely, financial security, family and social cohesion, and physical – mental health. Also on this website, Prudential develops a “Financial Calculator” tool that allows people to create a financial contingency plan for comfortable and independent seniority in the future.
Aging Summit 2022 is a starting point to help people to better understand and be well prepared for a free future in every way. Prudential Vietnam will continue to coordinate communication activities with relevant authorities to raise awareness of the aging population and guide the actively aging community in the coming years.
The public can view the 2022 Aging Summit themed “Aging Population – Opportunities and Challenges for the Millennial generation” on VnExpress’s online newspaper and Fanpage HERE.