Indonesia’s Elderly to Surpass 20% by 2045, DBS Foundation Hosts ‘Impact Beyond Dialogue’ to Boost Readiness for Ageing Society | Bahasa
The event was attended by Deputy Minister of Health of the Republic of Indonesia Dante Saksono Harbuwono, Group Head of Strategic Marketing and Communications DBS Bank & Head of DBS Foundation Karen Ngui, President Director, Bank DBS Indonesia Lim Chu Chong, Founder Alzheimer’s Indonesia & Regional Director Asia Pacific Alzheimer’s Disease International DY Suharya, President Director Living Well Seniors Communities Benjamin Cass, Founder Everest Media & Board Member of Mayapada Hospital Grace Tahir, President Director of PT Blue Bird Tbk Adrianto Djokosoetono, Entrepreneur & Content Creator Raymond Surya Chin, and Senior Anchor/Director CNN Indonesia Desi Anwar.
Data from Statistics Indonesia (BPS) in 2023 shows that the proportion of elderly people increased from 9.78 percent in 2020 to 11.75 percent, or around 32 million individuals. The projection is clear: by 2030, Indonesia will officially enter the ageing population era, with more than 14 percent of its population aged over 60. As the country approaches the peak of its “Golden Indonesia” vision in 2045, this number is expected to reach 63 million, meaning one in five Indonesians—or 20 percent of the total population—will be over the age of 60.
Group Head of Strategic Marketing and Communications DBS Bank & Head of DBS Foundation Karen Ngui stated, “An ageing population is not just a challenge. If well-prepared, it can be seen as an incredible opportunity. We believe that every individual, including the elderly, has the potential to make meaningful contributions to society. That is why the current priority of DBS Foundation is to build partnerships that create innovative solutions to help people prepare for an ageing society, one where everyone can live healthily, meaningfully, and with dignity. Through initiatives like Impact Beyond Dialogue, DBS Foundation aims to shift the narrative from seeing the elderly as a burden to recognizing them as part of the solution.”
On one hand, changes in demographic structure present cross-sectoral challenges, but they also open up strategic opportunities in developing the silver economy, an economic ecosystem focused on meeting the needs of and empowering the elderly population.
Collaborative Effort Between Government, Private Sector, and Society to Face an Ageing Population
Deputy Minister of Health of the Republic of Indonesia Dante Saksono Harbuwono, expressed his appreciation for the discussion on ageing issues within the context of the demographic bonus. “Typically, people discuss the demographic bonus in terms of the abundance of the productive-age population. But this time, we are also looking at the challenges of ageing that are emerging simultaneously,” he explained.
He emphasized that the government is not only working to increase life expectancy but also to improve the quality of life for the elderly through the HALE (health-adjusted life expectancy) approach. According to him, enhancing the quality of life for the elderly requires an inclusive ecosystem—from well-designed policies to active participation from the community and the private sector.
“Life expectancy in Indonesia has reached 72.39 years, but the HALE is only 63 years,” he revealed. “This means that although people are living longer, nearly 10 of those years may not be spent in good health. That is why it is a priority for the Ministry not only to extend life expectancy but also to ensure that the elderly live healthy and high-quality lives.”
Founder Alzheimer’s Indonesia & Regional Director Asia Pacific Alzheimer’s Disease International DY Suharya, emphasized the importance of empowering the elderly population in Indonesia. “Life after 60 is still a long journey. They must be empowered, not seen as a burden,” he said, highlighting the need to respect the potential and dignity of the elderly.
Although a national strategy for elderly care and health is already in place, he pointed out that its implementation and evaluation remain very limited. “The national strategy exists, but its execution and monitoring are still minimal. We urgently need concrete synergy from all parties to create real impact. This call highlights the necessity for stronger collaboration between the government, private sector, community organizations, and the wider society.”
Taking Inspiration from Other Asian Countries and Investment Opportunities in the Silver Economy
The discussion forum also featured several case studies from other countries. President Director Living Well Seniors Communities Benjamin Cass, shared lessons that Indonesia can learn from countries like Japan, Singapore, and Australia, which have faced the challenges of an ageing population earlier.
“Indonesia has around 14-15 gerontology experts to support a country of 275 million people. This contrasts sharply with Australia, which has 1,000 experts for a population of 30 million,” he explained. “And it is not, as I said, normal to be seated, waiting for our time ‘to go upstairs’, and spend 10 or 15 years as an unproductive citizen of this country. It can be productive, it can be integrated, and it should be being spent with friends and family in that productive fashion.
He also explained the need for investment in infrastructure for the ageing population, citing Singapore’s allocation of SGD 100 million for 200 elderly care centers. Beyond that, ongoing dialogue between the Ministry of Health, Ministry of Social Affairs, and all stakeholders is crucial to prevent this situation from becoming a bigger problem in the future.
In addition, Bank DBS Indonesia conducted a study titled DBS Ageing Society. The study, which surveyed 400 respondents aged 22 to 59, revealed a significant gap between public expectations and institutional readiness in facing the ageing population era:
69 percent of respondents still rely on their families as their main source of support in old age
Only 41 percent believe the government is ready to face this challenge, with the highest skepticism coming from the 44-59 age group, where 66 percent feel the government is not prepared
Conversely, 53 percent of respondents believe the private sector is better prepared through various pension programs.
The top three priorities expected from the government are improved access to healthcare services (43 percent), job opportunities and upskilling for the elderly (28 percent), and support for pension systems (28 percent).
These results underscore the urgent need for collaboration between the government, private sector, and society in building an inclusive silver economy ecosystem. Bank DBS Indonesia is committed to supporting holistic solutions to address the challenges of an ageing population through impactful financial and social approaches.
Innovation in the Banking Sector for Inclusive Financial Services
Meanwhile, President Director, Bank DBS Indonesia Lim Chu Chong, emphasized that inclusivity for the elderly must also be reflected in banking solutions and customer services for clients.
“According to the 2023 National Labor Force Survey (Sakernas), only 33.53 percent of elderly people have savings in financial institutions. Our latest survey data also reveals a serious knowledge gap—although 74 percent of Indonesians say they have a retirement plan, 36 percent of young people aged 22-27 don’t know how to start planning for retirement,” Lim Chu Chong explained.
The DBS Ageing Society survey findings even revealed a surprising phenomenon: the 44-59 age group, approaching retirement, showed the lowest readiness for retirement planning (66 percent), which is lower than that of the younger generation. However, as a compensatory strategy, they tend to have more mature investment approaches, with 52 percent relying on property, 43 percent on business ownership, and 35 percent on passive income. This contrasts with the younger generation, who still depend mainly on conventional savings.
“As a purpose-driven bank, Bank DBS Indonesia is committed to supporting customers at every stage of life through banking solutions that aid retirement readiness and cross-generational wealth planning,” said Lim Chu Chong. “Moreover, 69 percent of the population is open to working after retirement, reflecting a mindset shift from seeing retirement as the end of a career to viewing it as a new, productive chapter.”
Responding to this trend, he added that the financial sector has a strategic role in building the silver economy. “By providing inclusive services, promoting financial education, and partnering with the health sector and social entrepreneurs, we aim to create a broader impact. Moving forward, we will explore cross-industry collaborations to design holistic banking products for the elderly, enabling them to remain economically, financially, and socially active.”
All these efforts align with Bank DBS Indonesia’s third sustainability pillar, Impact Beyond Banking, in achieving its goal to become the ‘Best Bank for a Better World.’
Watch “Impact Beyond Dialogue - Future-Proofing Indonesia: From Demographic Bonus to Ageing Readiness” on CNN TV on Thursday, June 12, 2025, at 21.00 WIB.
For more information about DBS Foundation’s initiatives related to the ageing society, visit www.dbs.com/foundation/ageing.
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About DBS Foundation
Established in 2014, DBS Foundation is committed to uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact. It aims to bring hope to those with less today, so no one is left behind and we can all face the future with confidence.
In 2024, DBS committed up to SGD 1 billion dollars over the next decade to support vulnerable communities. It also pledged to contribute 1.5 million employee volunteer hours over the same period.
Together with an ecosystem of like-minded partners, DBS Foundation seeks to create impact that goes beyond banking, beyond borders, and beyond generations.
For more information, please visit: www.dbs.com/dbsfoundation.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 16 consecutive years from 2009 to 2024.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services that focus on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees, and the community towards a sustainable future.
PT Bank DBS Indonesia is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
DBS Foundation
