Financial insufficiency prevalent in elders: Report

The survey, which was carried out in multiple Indian States, said that about 32 per cent of the elderly or their spouses have an annual income of less than Rs 50,000 and only 29 per cent of them have access to social security schemes like old age pension and PF.

Hyderabad: A report on the present condition of the elderly in India, brought out by HelpAge India and released on the occasion of World Elder Abuse Awareness Day revealed financial insufficiency amongst elders, with one in every three elders not having any income in the past one year, more amongst women (38 per cent) than men (27 per cent).

The survey, which was carried out in multiple Indian States, said that about 32 per cent of the elderly or their spouses have an annual income of less than Rs 50,000 and only 29 per cent of them have access to social security schemes like old age pension and PF.

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The national report, titled ‘Ageing in India: Exploring Preparedness & Response to Care Challenges’, conducted a survey covering 10 Indian States, including 20 tier I and II cities, and 5,169 elders and 1,333 caregivers.

“There is an urgent need to develop a comprehensive long term care (LTC) framework on provision and financing for elders in India,” Rohit Prasad, CEO, HelpAge India, in a press release said. The report can be accessed at helpageindia.org.