Twilight years poverty: Rethinking retirement for our senior citizens

Quick Summary:

The stark reality of poverty among Filipino senior citizens serves as a sobering reminder that for many, retirement is a distant dream rather than a well-deserved respite.

A recent study by the Asian Development Bank (ADB) reveals a troubling trend: as individuals age, particularly those lacking adequate social protection, they face increasing financial insecurity, rendering them highly susceptible to poverty.(Read the BusinessMirror story, "Elderly in the workforce: The bittersweet reality of reaching 60s,” October 10, 2024).

Lawrence Dacuycuy, chair of the Social Science Division at the National Research Council of the Philippines, highlights a crucial factor: insufficient resources for retirement.

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Article Details

Author / Journalist: BusinessMirror

Category: BusinessStartups

Markets: Philippines

Topics: Percent Retirement Financial Poverty Years Citizens Senior Labor Filipinos Seniors Reality

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-13 @ 12:06:48 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 629 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23019150

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 68 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 10 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #37

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