Growing Old

A wish to spend golden years here

 

Most people in survey say they want to grow old in S'pore, are satisfied with life and health

 

By CHEN HUIFEN  

 

GERARD Ee almost emigrated to Vancouver when he was in his late 20s. He was tempted by 'distractions' such as owning a beautiful property at a fraction of the price here and having two cars that cost less than one COE in Singapore.

 

'My wife and I carried on this little antic of ours, dreaming about it,' says Mr Ee, chairman of the Council for Third Age (C3A), an independent body that promotes ageing. 'But when we sat down and planned for ourselves what is it that we want, 10 years, 20 years down the road, what is important to us, we decided to stay put.'

 

For Mr Ee, his networks, friends and family, and being recognised in a country where he does not have to start from scratch to prove himself again, pulled him back. But his story reflects one of the major findings of a recent survey commissioned by C3A.

 

Despite the rising cost of living here, 74 per cent of respondents said they want to grow old in Singapore - a wish that grew with age, up to 65. Beyond that, people seemed more willing to move - perhaps due to affordability issues. The wish to retire in another country was also found to be greater among those with higher incomes and education levels.

 

On another front - and much to the surprise of C3A - people are becoming aware of the prospect of ageing, and are doing things to prepare for it. This is a positive sign, as the better prepared a person is, the more likely they will feel fulfilled in their golden years.

 

Preparation can take the form of financial planning, regular exercise, a balanced diet, maintaining a good relationship with their family and keeping a strong social network.

 

Among those who did all of these things, 81 per cent expressed satisfaction with life and 95 per cent said they are pleased with their personal health status.

 

The fewer of the activities they are involved in, the less satisfied they were. Of those who did none of the activities listed, only 64 per cent said they were contented with their life and 75 per cent were satisfied with their personal health.

 

The results were culled from respondents below the age of 50. More than 70 per cent of them said yes to maintaining a balanced diet, good relationships and social engagement. But only 60 per cent said they exercise regularly, and just 51 per cent engage in some form of financial planning.

 

'People are at least getting certain elements of it (ageing well) right,' says Mr Ee. 'Of course, from C3A's perspective, we would like to see the percentage for financial planning increase quite somewhat. But the fact that they included a balanced diet and exercise regularly shows there is a growing trend - or at least we hope so - that people are beginning to take responsibility for their lives.'

 

Those who are engaged in social networks and family bonding tended to have a better sense of well being. While Mr Ee is encouraged, C3A plans to do more on the financial planning side, 'because really, at the end of the day, if you don't have savings, a lot of other things are not going to turn out well'.

 

C3A is working with financial institutions to come up with financial literacy initiatives for a wide range of people. The focus will be on how to stretch the dollar, rather than how to invest, says C3A chief executive Henry Quake.

 

The survey findings were recorded in the 2008 Study on Public Perception and Attitudes towards Ageing and Seniors. The sample size was selected from the National Database of Dwellings maintained by the Department of Statistics. About 2,000 people were interviewed at their homes. Focus group discussions were also conducted as part of the study.

 

More than 50 per cent of respondents said they will work past retirement age. The perceived value of seniors was also high, with 91 per cent of those aged 50 and under saying seniors have valuable life experience to share.

 

Seniors, however, are less inclined to think positively about themselves. Only 60 per cent of them agreed that seniors are active, while 56 per cent said seniors are not weak and ill.

 

Generally, the survey also found that people want to build strong inter-generational relationships and are willing to care for seniors in the family.