Seniors Need Retirement Income Without Burdening Their Children: KALSIS
Many seniors in Malaysia need steady income to fund retirement and health care while remaining independent in their own homes, rather than burdening their children. KALSIS proposes allowing them to unlock their properties’ value while retaining the right to live in them for life.
KALSIS advocates for mechanisms allowing Malaysian seniors to access property value for retirement income, reducing financial reliance on adult children. This approach aims to support independent living and address the gap between current savings and rising healthcare costs.
KALSIS proposes letting seniors unlock property value while retaining lifetime residency rights to fund retirement.
UM survey data shows 55% of older Malaysians depend on children for an average of RM526 monthly support.
EPF estimates indicate a single senior in the Klang Valley requires RM2,690 monthly for a reasonable standard of living.
Summarised automatically by AI from the original article by CodeBlue. AI can make mistakes, so check the original for details.
PETALING JAYA, Nov 4 — Seniors should have more ways to finance their retirement and health care needs instead of relying primarily on their adult children, says KALSIS founder and chief executive officer Jonathan Teoh.
With people living longer, medical costs rising, and retirement savings often insufficient, Teoh said families face an increasingly difficult financial burden as older parents may require support for 20 or more years after retirement.
“Adult children comprising the sandwich generation may find it difficult to fund their parents’ living expenses whilst shouldering the cost burden of raising their own families,” Teoh said at a forum last October 31 on ageing with dignity at Assunta Hospital’s Tun Tan Cheng Lock College of Nursing.
Read the full story on CodeBlueYou've read the opening, about 117 of 783 words. The full piece is published by CodeBlue.
AI summary Keratoconus is a progressive eye condition where the cornea thins and bulges, causing vision issues that glasses cannot correct. It often develops in youth and may go undiagnosed…
AI summary The Malaysian Pediatric Association criticizes the Poisons Board's decision to support removing nicotine vapes from the Poisons List, arguing that legalizing these products…
AI summary AMAM and FPMPAM warn that a proposed nicotine exemption risks public health and children's addiction, citing a previous court ruling against similar measures.
