A national survey carried out by HelpAge India highlighted the need to pay greater attention to social security of senior citizens in the country.
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The report was released by Union Social Justice and Empowerment Ministry on the occasion of World Elder Abuse Awareness Day (15 June).
According to survey, 47% of elderly people are economically dependent on their families for income and 34% relied on pensions and cash transfers, while 40% of the surveyed people have expressed a desire to work “as long as possible”
The report said that 52% of the elderly surveyed reported inadequate income; 40% said they did not feel financially secure; 57% said their expenditure was in excess of their savings; and 45% said the pension amount was not enough for survival.
This suggests both financial planning for later years and social security needs much greater attention. HelpAge India had been advocating for a universal pension of ₹3,000 a month.
One good news is that 87% elders reported there is availability of healthcare facilities nearby, however a significant 67% elderly reported they do not have any health insurance at this critical stage in their lives and only 13% are covered under government insurance schemes.
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