Abstract
Securing social security among older people amid the pandemic of Covid-19 is concerning. Insufficient savings from pension retirements has posed a challenge to older persons for life continual. Plus, the older persons and patients with comorbidities are at a high risk of suffering severe forms of the Covid-19 pandemic and even mortality. The novel Covid-19 has hit hardest our economy. This has unfolded fear, especially among the older persons, considering their limitation to sustain more savings amid Covid-19. Besides, the social care and pension system in our country are also staggering, which should be put into the main consideration by our government. Hence, it ponders the question to the readers “to what extend the implementation of pension scheme in our country has secured the financial savings among older persons. Attempting to answer this question, this paper aims to examine the underlying gaps in the implementation of pension retirement in our country and drawing the best practices from other countries like Japan, Singapore and others.
Highlights
The novel Covid-19 has been declared as a global pandemic by World Health Organisation (WHO) on 11 March 2020, which was initially spotted at Wuhan City last December 2019
A quantitative study conducted by Ali et al (2020) in Malaysia has shown that majority of 51% of retiree has emphasized of the need to improve the current pension system in our country, in a way to improve the quality of life of older persons
The findings revealed that the majority of the respondents were found less satisfied with low benefits from the pension system, especially those with low pay jobs
Summary
The novel Covid-19 has been declared as a global pandemic by World Health Organisation (WHO) on 11 March 2020, which was initially spotted at Wuhan City last December 2019. Older persons and patients with comorbidities are at a high risk of suffering severe forms of Covid-19 pandemic and even mortality. Older persons are among the most affected group, considering their limitation to sustain their financial sources, health and welfare during pandemic Covid-19. Relying upon adult children during the pandemic Covid-19 would be burdensome, as many working people were affected by losing the job, business discontinuation and financial constraints. This has called for inseparable attention from various parties to safeguard the rights and needs of older persons
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