Gen Zs are particularly concerned about maintaining their independence and avoiding social isolation in old age, according to a study sponsored by Prudential Singapore (Prudential").
The study, titled “Healthspan barometer: evaluating public perspectives on healthy ageing in Singapore”, written by Economist Impact, indicates that Gen Zs’ top physical health concerns are: inability to perform day-to-day tasks (35%); inability to afford necessary healthcare services or medical treatments (33%); and having one or more chronic conditions (31%). Their top mental health concerns are: feeling isolated from the community and society (34%); cognitive decline or memory problems (32%); and developing depression and/or anxiety (27%).
Yet, nearly 40% of Gen Zs focus on reducing or managing work-related stress. This highlights the younger generation's emphasis on work-life harmony and maintaining a balanced lifestyle as they enter the workforce.
Furthermore, even as Singaporeans are leading healthier lives, most Gen Zs lack confidence in maintaining physical health in old age (68%),
Gen Z is the least confident generation when it comes to maintaining physical health, followed by Baby Boomers (67%), Millennials (57%), then Gen X (56%). Mental health in old age was a concern that cut across age groups and was shared by half of Gen Z, Millennials and Gen X surveyed.
The study surveyed 1,014 Singapore residents aged 20 to 70 years old to understand their attitudes towards achieving a long healthspan. The respondents surveyed are across the four age groups: Gen Zs (born 1997 - 2006), Millennials (born 1981 - 1996), Gen X (born 1965 - 1980), and Baby Boomers (1945 – 1964).
Healthspan is the period of one's life spent in relatively good health, without chronic illnesses and age-related disabilities. The average life expectancy in Singapore is 84 years old, while the average healthspan is 74.
Highlighting the importance of healthspan, Dr Sidharth Kachroo, chief health officer, Prudential Singapore, said, "When we enhance our healthspan, we increase the number of healthy years in our life, not just add years to life. With nearly seven in 10 Gen Zs not confident about maintaining their physical health in old age and about half not confident about maintaining their mental health, starting preventive health measures early is crucial. By prioritising well-being at a young age, we can increase our chances of a long and healthy life."
Dr Kachroo added, "Equally as important as addressing physical and mental health concerns is putting in place a robust financial plan to cover future healthcare costs. This proactive, comprehensive approach can help one to maintain independence and pay for healthcare needs in old age."
For the full Healthspan Barometer study, please click on this link.