8 in 10 Singaporeans worry about growing old: Survey

Elderly men at a covered walkway in Circuit Road.
Elderly men at a covered walkway in Circuit Road. PHOTO: ST FILE

SINGAPORE - Eight in 10 Singaporeans are worried about growing old, a survey has found.

Topping their worries is whether they can look after themselves when they are old. Financial worries of running out of savings is next, according to a survey released on Tuesday (Oct 18).

Nearly 1,000 Singaporeans aged 30 to 75 were interviewed in the survey commissioned by insurance cooperative NTUC Income and philanthropic organisation Lien Foundation.

The survey also found that nearly eight in 10 Singaporeans prefer to grow old in their homes, consistent with the government push to encourage Singaporeans to "age in place", or spend their twilight years in their homes.

About half the respondents were willing to stay at a nursing home, but only two in five were willing to send a loved one there.

The survey found that for those willing to stay in seniors' homes, an overwhelming nine in 10 prefer single or two bedded-rooms that currently do not qualify for government subsidies.

"Aged care facility providers can take heed of the varying preferences shown by the different age groups," said Lien Foundation programme manager Gabriel Lim of the findings.

NTUC Income also launch on Tuesday in conjunction with the survey findings release a new insurance plan that covers senior diseases like Parkinson's disease, dementia and Alzheimer's diseases. The new plan covers policyholders until age 100.