A fifth of Malaysians expect government to take care of them in old age

The 2017 Prudential Relationship Index shows the dire straits of most Malaysians when it comes to retirement living, with 59% worrying they may not have enough money.

KUALA LUMPUR: About 21% of urban Malaysians polled said they expect the government to take care of them in old age.

According to the 2017 Prudential Relationship Index (PRI), only 31% expect their children to support them in their old age, and 25% of parents worry about becoming a burden to their children in their old age

About 59% of the 516 people polled in Kuala Lumpur and Selangor worry that they will not have enough money when they retire, including for medical expenses.

They said they were especially concerned about their ability to meet their old age needs because of the consistent increase in the cost of living.

According to the PRI, 43% of Malaysians expect to be working into their senior years, but 15% worry about whether they can keep working when they get older.

As much as 87% said they expected to rely on their personal savings and assets in their old age and were trying their best to save.

Also, 36% said they were worried about whether they would remain mentally agile in their old age.

The PRI involved interviews with 4,600 respondents in Malaysia, Cambodia, China, Hong Kong, Indonesia, the Philippines, Singapore, Thailand, and Vietnam . -FMT