n October 1, the world marked the UN International Day of Older Persons. For many in Pakistan, this may seem like a distant issue, since our public discourse is still dominated by the celebrated “youth bulge.” Yet the numbers tell a different story. More than 13 million Pakistanis are already aged 60 and above. By 2050, this number will rise to 36 million. That is a population larger than today’s Karachi, Lahore and Faisalabad combined.

While this shift is often spoken of only in terms of rising costs and dependency, there is another way to look at it. Around the world, policymakers and businesses are talking about the “silver economy,” that is the economic and social value generated by older persons. For Pakistan, which faces fiscal pressures and limited resources, the silver economy could be a vital opportunity if embraced early.

Older people are not just dependents. They are living repositories of skills, knowledge and experience. They are also active consumers with needs that generate demand for new goods and services. Many of them are capable of extending their working lives, starting small businesses, mentoring younger workers and caring for grandchildren in ways that allow mothers to join the labour force. In other words, ageing can be reimagined not as a looming social burden, but as an economic driver that strengthens families, communities and markets.

This is not just theory. In my earlier writing on “active and healthy ageing,” I emphasised that ageing should not be equated with inevitable decline. It can also be a phase of renewal, creativity and contribution. Across Pakistan, retired teachers still tutor neighbourhood children, former engineers advise young entrepreneurs, and grandparents sustain family structures by providing unpaid care. These roles are often invisible in GDP figures, but their contribution is undeniable. Economists call this “intergenerational value creation,” which is a process by which older persons transmit skills, stabilise communities and give younger generations a better chance to succeed. Recognising this is not about charity. It is about smart economics.

Experiences abroad show that the silver economy can be nurtured with policies and investments that unlock these hidden contributions. Germany and Japan, for instance, encourage phased retirement so that older workers can gradually move to part-time or flexible roles rather than facing an abrupt exit from the labour force. This not only keeps expertise within companies but also reduces pension burdens. Some governments go further by offering tax incentives to firms that retain or rehire older employees. In Singapore, re-skilling programmes and digital literacy classes keep older workers employable, while in the European Union lifelong learning vouchers are available even in later life. Mexico’s non-contributory pension and Brazil’s micro-pension schemes show how developing countries can guarantee minimum income security, even for those who spent their lives in informal work.

These examples matter for Pakistan. We already have a modest initiative, the Ehsaas Ba-Himmat Buzurg programme, which provides cash support to older persons. But coverage is thin, benefits are limited and inflation has eroded their value. Expanding this into a universal old-age allowance, indexed to the cost of living, could drastically reduce vulnerability and provide a steady injection into local economies. Every rupee transferred to older people tends to circulate quickly—into neighbourhood shops, medicines or school fees for grandchildren. Social protection for seniors is not dead weight; it is stimulus for communities.

Around the world, policymakers and businesses are talking about the “silver economy,” that is the economic and social value generated by older persons. For Pakistan, which faces fiscal pressures and limited resources, the silver economy could be a vital opportunity.

The silver economy also extends to markets. Across Asia and Europe, industries from healthcare to housing and from financial services to tourism are already adapting to the needs of older consumers. Assistive devices, telehealth, senior-friendly housing and leisure services are booming sectors. Governments have often supported these through grants, standards and public-private partnerships. For Pakistan, where entrepreneurship and small business are vibrant, this is a chance to create new jobs while meeting an inevitable demand. Think of low-cost hearing aids manufactured locally, age-friendly housing projects in expanding urban centres or digital services adapted for older users. These are not just welfare initiatives; they are mar

ket opportunities waiting for investors.

Another lesson from abroad is the importance of tackling ageism. Despite cultural reverence for elders, Pakistani workplaces often treat older employees as expendable. Stereotypes about declining productivity or inflexibility lead to exclusion. Yet research shows that intergenerational teams combine the creativity of youth with the experience of seniors and prove to be more innovative and stable. Campaigns in Europe and East Asia have reframed ageing as an asset. Similar national efforts in Pakistan could change workplace norms. A society that values its elders is also one that prepares better for its own future.

At present, Pakistan’s discourse remains locked on dependency ratios and fiscal burdens. But three areas stand out as opportunities if we change our perspective.

First, harnessing experience: by enabling flexible work, second careers and mentorship roles, we can tap into decades of accumulated knowledge that now often goes unused.

Second, driving demand: industries from healthcare to leisure could thrive by designing products and services for older consumers.

Third, reducing dependency: preventive healthcare, lifelong learning and digital inclusion can help seniors remain independent longer, reducing the pressure on families and the state.

Each of these requires a deliberate policy shift, but none is beyond reach.

What might such a shift look like in practice? It would start with adopting a National Framework on Active and Healthy Ageing, anchored in principles of health, participation and security. This means bringing together ministries of health, labour, planning, and social protection to work with a common vision. It will also mean investing in skills and digital literacy programmes for older adults through universities, vocational institutes and NGOs. Labour policies must be reformed to allow phased retirement, flexible contracts and incentives for firms to rehire older workers. Municipal governments, meanwhile, need to think of age-friendly infrastructure—accessible transport, safe walkways, housing adapted to mobility needs and community spaces that keep seniors engaged. Finally, Pakistan should begin encouraging silver markets by supporting entrepreneurship in assistive technologies, healthcare services and micro-pensions.

These reforms are not just about older persons. They are about making Pakistan’s economy more inclusive, more resilient and more dynamic. They can reduce fiscal stress, generate new markets and strengthen intergenerational solidarity. Above all, they can help us see ageing not as decline but as a second opportunity—for individuals and for the nation.

As the UN International Day of Older Persons reminds us, societies everywhere are facing this demographic shift. The choice is whether to treat it as a crisis or an opportunity. For Pakistan, still a young nation but rapidly ageing, the silver economy offers a chance to get ahead of the curve. We can continue to view older people as dependents to be carried, or we can recognise them as workers, mentors, innovators and consumers whose contributions can lift us all. The dividends of the latter will not only improve the lives of our seniors but also strengthen our economy and social fabric.

The promise of the silver economy lies before us. Whether we seize it depends on how boldly we are willing to reimagine ageing.

The writer is the provost at the University of Management and Technology, Lahore.