Page 103 - KCMAGAZINE 20230717

Besides that, elderlies that are still working are not necessarily poor. Many
continue in their line of work to find meaning in life, a sense of belonging or to avoid

depending on their children. Take Japan, for example, where many old people still work
due to acute labour shortages and higher life expectancies.

That being said, it is undeniable that poverty is a looming threat to senior citizens
and it worsens as they get older. According to a 2019 research conducted in OECD
countries, the poverty rate among the “younger old” is 11.6% while the poverty rate
among the “older old” is 16.2%. Clearly, income poverty at old age is a serious issue that
has yet to be tackled in first-world countries, let alone a developing country like ours.

This begs the question, how does one fall into poverty at old age? The three

sources of retirement income provide valuable insight into this complex question.
are experiencing the fourth stage of population growth

(low stationary). This demographic stage is characterised First of all, the state. It can support older people financially via different schemes
by low birth and death rate, coupled with an ageing and agencies. In Malaysia, the government provides monetary assistance for senior
population. citizens such as Bantuan Keluarga Malaysia (BKM) and monthly cash aid, which is

initiated by state governments. Besides that, there are also other medical and health

However, a large elderly population does not benefits built into our heavily subsidised public healthcare system.
correlate with higher levels of old age poverty. In 2015, the
population aged 65 years and above in Norway reached However, these schemes can hardly provide a decent quality of life in the face of

almost 16%. Despite that, Norway boasts the second inflation. To make matters worse, illiterate seniors might find the red tape too difficult to
lowest old-age poverty rate in Scandinavia, standing manoeuvre through, preferring to work instead of applying for help.
at only 1.8%. The truth is, old age poverty varies from

region to region and depends heavily on government
policy such as pension coverage and regional wealth, In terms of social care, this vulnerable age group is further let down by the social
instead of demographics. care crisis. What’s more, the social infrastructure for older people is close to non-existent
Photos by Chang Qian Hung
99 100