A study has revealed even well off elderly in India remain vulnerable. (Representational Image)
Despite being well off, the aged in India continue to suffer from medical, social and financial problems, according to a new study.
The nationwide survey, conducted by Delhi based Agewell Foundation, analysed the financial status of seniors in India while assessing various aspects related to net-worth value, financial needs and rights of the elderly.
The foundation interviewed a random sample of 15000 people over the age of 60 years, and found that for a large number of those surveyed their net-worth increased primarily due to an increase in real estate prices over the past two decades.
"46.4 per cent elderly respondents claimed that their net-worth increased remarkably in their old age, but they continue to suffer due to lack of elderly sensitive schemes," the foundation said.
The study also found that with high net-worth, those surveyed also had higher purchasing power, but they could not use it according to their discretion, with younger family members often manipulating their decisions.
"In spite of a major role and active participation of older persons in a country's economy, they are still ignored as consumers in comparison to younger people," the foundation said.
Among the major findings of the survey is the fact that older people continued to suffer, both medically and socially, because of lack of government schemes designed for them.
Another finding of the survey reveals that more than half of those surveyed continued to suffer from financial problems in their old age. Nearly two-thirds of those surveyed were dependent on others for their day-to-day maintenance.
"65 per cent of older persons undergo financial crisis and they are totally dependent on others for all their financial requirements. Most of them are not in a position to earn their livelihood. Their savings, if any, are not enough to meet their day to day, particularly the medical expenses," the study concluded.