'Sandwich generation' most impacted by COVID-19 crisis: Prudential
They are the 35- to 54-year-old adults caring for both parents and children.
Findings from Prudential Singapore's study Re-imagining 100: The pandemic's impact on longevity revealed that 51% of Singaporeans aged between 35 and 54 years experienced a deterioration in their financial wellbeing since the onset of the pandemic. It also shows 45% of these adults also recorded higher stress levels.
"The sandwich generation was already struggling with supporting their ageing parents and growing children. The economic uncertainties created by the COVID-19 pandemic has led to considerable financial stress and intensified the pressure faced by this group of Singaporeans. As a consequence, their health, both mental and physical, has also suffered in the past year," CEO Dennis Tan said.
The study, part of Prudential's Ready for 100 longevity research programme, also examined the pandemic's impact on Singaporeans' preparedness for longer lives. Currently, the country has one of the highest life expectancies in the world at 83.9 years.