Retirement insecurity is widespread in Malaysia, with slightly more than half surveyed fearing poverty after they hang up their tools. However, The Global Aging Institute (GAI) found there is a marked improvement compared to 2011, where a whopping 83 percent said they feared "being poor and in need of money".Today, just over half still fear being a burden to their children while about a third fear being unhealthy and having no one to care for them.
When the same survey was done in 2011, at least 80 percent had those fears.
"The explanation may lie in the large increase in the share of retirees who report receiving means-tested old-age assistance," researchers Richard Jackson and Tobias Peter said in the report released today.
In 2011, only five percent reported receiving assistance, compared to about a quarter today.
The survey was conducted on more than 10,000 respondents from China, Hong Kong SAR, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
No comments:
Post a Comment