Dear Editor,
I am writing to express my view on what the government and citizens can do to prepare for a happy and secure retired life.
In Hong Kong, the elderly suicide rate is two to three times higher than that in the younger age group. The suicide rate per 10,000 among those who are above 65 years old is 29.9 while the rate is 11.3 among those who are less than 65.It is very sad to know elders pass away in such an astonishing way. They should be kicking somewhere on a beach after contributing to society all life- long.
The society should mobilize to give the retired ones an enjoyable life.
The retired ones are often depressed for negative events in life e.g. more pain and physical illness or lack of money. Also, they are bored after retirement.
To prepare for a happy retired life, citizens can remain healthy. Retirement can be a long race. Getting in shape, eating well and watching one’s weight can make one feel good and staying active. Moreover, citizens can also make life plans concerning the non- financing aspect of retirement living. We can consider what we want to feel and what our lives will be.
For example, there are those who planned well for retirement and have no desire on need to earn money. They still feel they can make a contribution to society and thus seek out volunteer opportunities. Volunteering gives seniors a chance to use the skills they spend so much time cultivating. Picking a hobby can also keep people busy and merry. Loving one specific thing can stop one from developing Alzheimer’s disease.
On the other hand, the government should always keep the line of communication opens. Many old and retired people will hide their depression because they do not want to be seen as weak, crazy or suffering from dementia. So, social education should be provided to social workers to spot out depression or suicidal symptoms. Once they find those who match the symptoms via community out reach, they can transfer the needy to some clinics. The clinics should be posted with psychiatrists, social workers .The needy can be treated according to their needs by various means, e.g. counselling, drug treatment.
In addition, social nurses can phone the elderly once a while. This can give them a sense of respect and concern. Also, nurses can know their emotional status, appetite and quality of sleep. Thus the elders can be taken care of more intensively.
As technology advances, the survival rate and life expectancy increase. So is the medical cost that matters. According to the Census and Statistics Department, there is medical inflation of 5% annually since 1990. This is extremely important to secure retired life and present savings to prevent eroded in case of a medical mishap.
The government bears the greatest responsibility in this aspect. The government can continue to subsidize the medical cost of the general public at the same degree as today. Knowing the government will be their financial supporter, the public will be more confident to face retired life.
To the citizen, regular investment in investment-linked insurance plans can build nest egg for retirement. Some plans only take 10 years to pay up. This provides more flexibility and helps most people to manage money better before retirement. They may also provide a stream of guaranteed income in retirement or an annuity. In this case, health-care financing is ideally done with a mix of health-care insurance products plus regular savings in a plan that keeps up with the pace of inflation.
To conclude, a happy and secure retired life can be achieved by the joint effect of the government and the citizens.
Yours faithfully,
Chris Wong