8 in 10 elderly have sufficient income

SINGAPORE: The Housing and Development Board (HDB) said more than eight in 10 elderly households – in which the head of household is aged 65 and over – have sufficient sources of income to cover their daily expenses. HDB’s Sample Household Survey 2008 said the major sources of income cited were financial support from children and self-reliance through personal and CPF savings.

Source: CNA

I wonder what do “daily expenses” cover?  The main concern for the elderly isn’t daily spending but healthcare costs when their bodies fail.  Not the outpatient colds but cancers, strokes and other debilitating illnesses.   The report says that “those who said they don’t have enough for their daily expenses cited the high cost of living and healthcare costs.”  If we factor in the major illnesses, then the numbers with ’sufficient sources’ of income will be much much lower, perhaps 6 out of 10 (and even lower if we include those that are not adequately insured). 

Once again, the State Times tries to mask reality with poor reporting.



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