For those who provide companionship to their elderly relative, two in five do so almost every day.
The survey also found that only 21 percent planned to cut back on spending on their wards because of the current financial crisis.
As a result of the current trends, some caregivers here may be too caught up in meeting financial responsibilities to save for their retirement, said the foundation’s chief executive Tan Bee Wan.
“This trend could propel Singapore into a vicious circle in which we potentially have another generation of elderly who are not prepared financially, emotionally or physically, for their own retirement,” she said.
Singapore’s total population reached 4.84 million in 2008. The proportion of residents aged 65 years and above increased to 8.7 percent in 2008.
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