DBS Foundation's Research: Risks of an Ageing Population, Good Financial Access, Retirement Unreadiness | Bahasa
Indonesia, 17 Sept 2026 - DBS Foundation today launched a research report titled “Indonesia Menuju Populasi Menua: Seberapa Siapkah Kita?” (Indonesia’s Demographic Transition: Building Readiness Today for a Better Tomorrow). The event was attended by Deputy for Coordination of Family Quality Improvement and Population, Coordinating Ministry for Human Development and Cultural Affairs of the Republic of Indonesia Woro Srihastuti Sulistyaningrum, ST., MIDS, artist, entrepreneur and founder of Cinta Laura Foundation Cinta Laura Kiehl, and Head of Group Marketing & Communications at PT Bank DBS Indonesia Mona Monika. The research highlights Indonesia’s readiness to navigate the demographic transition towards an ageing population, leveraging the current demographic bonus while preparing for an ageing society in the future.
An aging society means that 10 percent of the population is aged over 60. In Indonesia, the share of the elderly population was 12 percent in 2025 and is projected to exceed 20 percent by 2045 (BPS, 2025). Therefore, the need for support for the elderly population will also increase, placing greater pressure on the current and future working-age generations. The question is not how many elderly people there will be, but how Indonesia can build the readiness of all generations so that everyone can live and age in a healthy, productive, independent, and prosperous manner.
Responding to this trend, the DBS Foundation has reaffirmed its commitment to helping vulnerable communities across generations build social and financial resilience. “An ageing society is a critical issue for us because it has implications for all generations. At DBS Foundation, we believe that preparing for an ageing population must begin during one’s working years. To that end, we are committed to supporting vulnerable communities so they can become more socially and financially resilient by improving access to education, healthcare, employment, financial literacy and inclusion, and retirement planning. We want everyone to be able to age in a healthy, productive, prosperous, and independent manner,” said Mona Monika, Head of Group Marketing & Communications at PT Bank DBS Indonesia.
Artist, Entrepreneur and Founder of Cinta Laura Foundation Cinta Laura Kiehl also views future preparedness as something that can be built during one’s productive years, including developing healthy habits, continuously improving oneself, and starting to plan for financial needs from an early age.
“Future independence is built on the desire to keep learning. However, not everyone has the opportunity to get an education and develop their skills. That’s why Cinta Laura Foundation supports students in completing their education while also developing their leadership, communication, financial literacy, problem-solving, and career readiness skills so they’ll be better prepared to build the future they desire,” said Cinta.
Research findings indicate that preparedness for an ageing population must be built throughout the life course and across various sectors. The government plays a crucial role in strengthening cross-sectoral policies as part of a long-term development agenda, ranging from access to education and health care, employment opportunities, and social protection to services that support quality of life in old age. A life course approach is essential to ensure that the needs of the community are interconnected and that the benefits are felt across generations.
“We need to ensure that every stage of life receives the appropriate attention—from early childhood, learning period and working age, to old age. Therefore, various government programmes are designed to enhance the quality of human resources while ensuring that the needs of the community at every stage are met. With this approach, we are not only preparing people to face old age but also laying the foundation for them to lead healthy, productive, and prosperous lives from an early age,” said Woro Srihastuti Sulistyaningrum, ST., MIDS, Deputy for Coordination of Family and Population Quality Improvement at the Coordinating Ministry for Human Development and Culture of the Republic of Indonesia.
Demographic Changes Narrow the Demographic Dividend Window
Indonesia currently still enjoys a demographic dividend, with 69 percent of its population in the working-age group (15–65 years) in 2025. However, this window of opportunity is narrowing as the percentage of the working-age population continues to decline. One of the driving factors behind this demographic transition is declining fertility rates and rising life expectancy. These conditions are leading to smaller families and a greater dependence of the elderly on working family members. Therefore, investing in the working-age generation is crucial now to improve the quality of life in the future.
Ultimately, this approach shows that readiness for the future is built before reaching retirement age and requires the involvement of various stakeholders. The government plays a role in developing a series of integrated cross-sector policies and programmes to strengthen individual capabilities throughout the life cycle. The private sector can help bridge existing gaps by developing innovative services to address the growing needs of the elderly population. Individuals also have a role to play by continuously developing their capabilities, adopting healthy lifestyles, and engaging in financial planning, including investments and retirement funds. Through collaboration among various stakeholders, the transition toward an ageing society can become an opportunity to build a healthier, more productive, independent, and prosperous Indonesia for every generation.
Preparing for Retirement Starts with Realistic Steps
As a continuation of the “Pensiun Gak Susah” campaign, Bank DBS Indonesia and DBS Foundation have introduced the Retirement Goal Calculator to help people gain a more concrete picture of their future financial needs. Mona explained that the calculator enables users to project their needs based on their target retirement age, desired expenses and lifestyle, as well as assumptions for inflation and investment returns, allowing for financial planning to be tailored to each individual’s circumstances and capabilities.
Furthermore, preparing for retirement is not solely about how much money is accumulated. Health, education and skills, employment, and the ability to continuously adapt also determine quality of life and independence in the future. For the productive generation, investing in health and lifelong learning, along with developing financial management habits from an early age, can help expand future choices and reduce dependency later in life.
Strengthening the Intergenerational Readiness Ecosystem
Demographic changes and the various gaps that accompany them are creating new needs across sectors, ranging from healthcare and caregiving services and financial security to lifelong learning and social connectedness. These create opportunities for businesses and Businesses for Impact to provide more inclusive and relevant solutions, particularly for vulnerable and underserved communities.
These efforts are also aligned with DBS Foundation’s role in promoting solutions that strengthen the social and financial resilience of communities at every stage of life. Since 2015, DBS Foundation has provided more than SGD26 million in grants to more than 180 social enterprises and Businesses for Impact across Asia. In Indonesia, more than SGD4 million has been allocated to 25 social enterprises and Businesses for Impact. These initiatives provide solutions to various social challenges, ranging from improving education quality and strengthening workforce skills to healthcare and more inclusive livelihoods.
This commitment is also fulfilled through collaboration with various strategic partners, including UNICEF to support improved child nutrition and learning quality, as well as Dicoding to expand access to digital skills and economic opportunities for young people. These efforts reflect DBS Foundation’s belief that investing in today’s generation is an important foundation for building resilient communities in the future.
In addition, through its Impact Beyond Award (IBA) grant programme, which was launched in 2024, DBS Foundation also supports innovations that address the needs of ageing societies across Asia. So far, four social enterprises in Asia have received a total of SGD3 million in grants. The (four) grantees focus on various services such as caregiver training, technology development to support elderly independence, and the development of integrated elderly care ecosystems.
The research “Indonesia Menuju Populasi Menua: Seberapa Siapkah Kita?” can be explored further through this link.
Editor’s Note: Bank DBS Indonesia launched the research “Indonesia Menuju Populasi Menua: Seberapa Siapkah Kita?” together with Tenggara Strategics as its knowledge partner.
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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 AI Bank” by Global Finance, “World’s Best Digital Bank” by Euromoney and the winner of multiple digital assets awards. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 17 consecutive years from 2009 to 2025.
DBS provides a full range of services in Consumer, Wealth, 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 Operational Head Office, 13 Branch Offices, 14 Sub-Branch Offices, 32 ATMs spread across major cities and 2.861 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 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.
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.
An aging society means that 10 percent of the population is aged over 60. In Indonesia, the share of the elderly population was 12 percent in 2025 and is projected to exceed 20 percent by 2045 (BPS, 2025). Therefore, the need for support for the elderly population will also increase, placing greater pressure on the current and future working-age generations. The question is not how many elderly people there will be, but how Indonesia can build the readiness of all generations so that everyone can live and age in a healthy, productive, independent, and prosperous manner.
Responding to this trend, the DBS Foundation has reaffirmed its commitment to helping vulnerable communities across generations build social and financial resilience. “An ageing society is a critical issue for us because it has implications for all generations. At DBS Foundation, we believe that preparing for an ageing population must begin during one’s working years. To that end, we are committed to supporting vulnerable communities so they can become more socially and financially resilient by improving access to education, healthcare, employment, financial literacy and inclusion, and retirement planning. We want everyone to be able to age in a healthy, productive, prosperous, and independent manner,” said Mona Monika, Head of Group Marketing & Communications at PT Bank DBS Indonesia.
Artist, Entrepreneur and Founder of Cinta Laura Foundation Cinta Laura Kiehl also views future preparedness as something that can be built during one’s productive years, including developing healthy habits, continuously improving oneself, and starting to plan for financial needs from an early age.
“Future independence is built on the desire to keep learning. However, not everyone has the opportunity to get an education and develop their skills. That’s why Cinta Laura Foundation supports students in completing their education while also developing their leadership, communication, financial literacy, problem-solving, and career readiness skills so they’ll be better prepared to build the future they desire,” said Cinta.
Research findings indicate that preparedness for an ageing population must be built throughout the life course and across various sectors. The government plays a crucial role in strengthening cross-sectoral policies as part of a long-term development agenda, ranging from access to education and health care, employment opportunities, and social protection to services that support quality of life in old age. A life course approach is essential to ensure that the needs of the community are interconnected and that the benefits are felt across generations.
“We need to ensure that every stage of life receives the appropriate attention—from early childhood, learning period and working age, to old age. Therefore, various government programmes are designed to enhance the quality of human resources while ensuring that the needs of the community at every stage are met. With this approach, we are not only preparing people to face old age but also laying the foundation for them to lead healthy, productive, and prosperous lives from an early age,” said Woro Srihastuti Sulistyaningrum, ST., MIDS, Deputy for Coordination of Family and Population Quality Improvement at the Coordinating Ministry for Human Development and Culture of the Republic of Indonesia.
Demographic Changes Narrow the Demographic Dividend Window
Indonesia currently still enjoys a demographic dividend, with 69 percent of its population in the working-age group (15–65 years) in 2025. However, this window of opportunity is narrowing as the percentage of the working-age population continues to decline. One of the driving factors behind this demographic transition is declining fertility rates and rising life expectancy. These conditions are leading to smaller families and a greater dependence of the elderly on working family members. Therefore, investing in the working-age generation is crucial now to improve the quality of life in the future.
- Smaller Families, Potentially Greater Dependency Burdens
The total fertility rate (TFR) declined from 3.11 in the early 1990s to 2.13 children per woman in 2024 and is projected to reach 1.97 by 2045. Meanwhile, the number of marriages declined from 2.01 million in 2018 to 1.48 million in 2025. Smaller family structures mean fewer working-age family members are available to share financial and caregiving responsibilities for elderly parents, potentially increasing the pressure on the sandwich generation. - Older adults continue to work to meet basic needs
A total of 55.32 percent of older adults are still working, and 84.75 percent of them are in the informal sector. Nationally, 59.42 percent of the workforce is also in the informal sector, where incomes are low and unstable, and access to employment benefits is limited. This situation means that some people have far more limited access to high-productivity jobs and formal retirement plans. - Intergenerational Impact
Approximately 82.96 percent of households with elderly members rely on income from working family members, and less than 1 percent derive their economic livelihood from savings and investments. This situation indicates that without early planning, the financial needs of the elderly are likely to continue to be supported by the next productive generation. - Low levels of education impact future economic opportunities
The average level of education for the current generation is about 9 years-meaning they have completed junior high school-while the average level of education for the elderly is currently 6 years, or the equivalent of elementary school graduation. Despite an increase in the average length of schooling, raising educational participation to at least 12 years will have an impact on future employment opportunities. - Access to financial services does not guarantee retirement readiness
Among the 18-50 age group, financial inclusion has reached 93.5-95.1 percent, while financial literacy ranges from 72.1 to 74.1 percent. This means that building the understanding needed to utilise the right financial products and services will enhance long-term financial capacity. Access to financial services is still dominated by banking, at 65.5 percent, while ownership of savings accounts or retirement funds remains minimal, at 5.37 percent. On the other hand, the level of awareness of the importance of retirement savings has reached 27.79 percent. This gap highlights the need for more flexible retirement savings schemes for the informal sector and the self-employed so that retirement programmes can reach a wider audience and foster financial independence in the future.
Ultimately, this approach shows that readiness for the future is built before reaching retirement age and requires the involvement of various stakeholders. The government plays a role in developing a series of integrated cross-sector policies and programmes to strengthen individual capabilities throughout the life cycle. The private sector can help bridge existing gaps by developing innovative services to address the growing needs of the elderly population. Individuals also have a role to play by continuously developing their capabilities, adopting healthy lifestyles, and engaging in financial planning, including investments and retirement funds. Through collaboration among various stakeholders, the transition toward an ageing society can become an opportunity to build a healthier, more productive, independent, and prosperous Indonesia for every generation.
Preparing for Retirement Starts with Realistic Steps
As a continuation of the “Pensiun Gak Susah” campaign, Bank DBS Indonesia and DBS Foundation have introduced the Retirement Goal Calculator to help people gain a more concrete picture of their future financial needs. Mona explained that the calculator enables users to project their needs based on their target retirement age, desired expenses and lifestyle, as well as assumptions for inflation and investment returns, allowing for financial planning to be tailored to each individual’s circumstances and capabilities.
Furthermore, preparing for retirement is not solely about how much money is accumulated. Health, education and skills, employment, and the ability to continuously adapt also determine quality of life and independence in the future. For the productive generation, investing in health and lifelong learning, along with developing financial management habits from an early age, can help expand future choices and reduce dependency later in life.
Strengthening the Intergenerational Readiness Ecosystem
Demographic changes and the various gaps that accompany them are creating new needs across sectors, ranging from healthcare and caregiving services and financial security to lifelong learning and social connectedness. These create opportunities for businesses and Businesses for Impact to provide more inclusive and relevant solutions, particularly for vulnerable and underserved communities.
These efforts are also aligned with DBS Foundation’s role in promoting solutions that strengthen the social and financial resilience of communities at every stage of life. Since 2015, DBS Foundation has provided more than SGD26 million in grants to more than 180 social enterprises and Businesses for Impact across Asia. In Indonesia, more than SGD4 million has been allocated to 25 social enterprises and Businesses for Impact. These initiatives provide solutions to various social challenges, ranging from improving education quality and strengthening workforce skills to healthcare and more inclusive livelihoods.
This commitment is also fulfilled through collaboration with various strategic partners, including UNICEF to support improved child nutrition and learning quality, as well as Dicoding to expand access to digital skills and economic opportunities for young people. These efforts reflect DBS Foundation’s belief that investing in today’s generation is an important foundation for building resilient communities in the future.
In addition, through its Impact Beyond Award (IBA) grant programme, which was launched in 2024, DBS Foundation also supports innovations that address the needs of ageing societies across Asia. So far, four social enterprises in Asia have received a total of SGD3 million in grants. The (four) grantees focus on various services such as caregiver training, technology development to support elderly independence, and the development of integrated elderly care ecosystems.
The research “Indonesia Menuju Populasi Menua: Seberapa Siapkah Kita?” can be explored further through this link.
Editor’s Note: Bank DBS Indonesia launched the research “Indonesia Menuju Populasi Menua: Seberapa Siapkah Kita?” together with Tenggara Strategics as its knowledge partner.
[END]
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 AI Bank” by Global Finance, “World’s Best Digital Bank” by Euromoney and the winner of multiple digital assets awards. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 17 consecutive years from 2009 to 2025.
DBS provides a full range of services in Consumer, Wealth, 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 Operational Head Office, 13 Branch Offices, 14 Sub-Branch Offices, 32 ATMs spread across major cities and 2.861 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 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.
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.
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World's Best Bank 2025, 2018 - 2022
Euromoney, Global Finance, The Banker
Asia’s Safest Bank, 2009 – 2025
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