Gen Z is the least confident generation when it comes to maintaining physical health with 68% lacking confidence in maintaining physical health in old age, a study by Prudential and Economist Impact found.
This was followed by baby boomers (67%), millennials (57%) and Gen X (56%).
The study, Healthspan Barometer: evaluating public perspectives on healthy ageing in Singapore, which surveyed 1,014 Singapore residents aged 20 to 70, was released on Nov 25.
The study found that the top physical health concerns for Gen Zs were not being able to perform daily tasks (35%), inability to afford necessary healthcare services or medical treatments (33%) and having one or more chronic conditions (31%).
Additionally, the top mental health concerns for Gen Zs were feeling isolated from the community and society (34%), cognitive decline or memory problems (32%) and developing depression and, or anxiety (27%).
Mental health in old age was a concern for all age groups, with 45% of respondents lacking confidence in maintaining their mental health in old age.
When asked about worries about future funding gaps, 41% of respondents identified not being able to afford medical bills and nursing as costs for long-term health conditions or injuries as a concern.
Other worries included exhausting their savings due to unexpected health issues (41%), not being able to afford basic living expenses (32%) and not being able to afford their desired retirement lifestyle (30%).
With regards to how they financially support healthcare needs as they age, 61% of respondents indicated that they will tap into their Central Provident Fund (CPF), while 59% will use cash savings. Another 53% said they will rely on their insurance plans.
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A mere 18% were planning to rely on their spouses for financial support while 14% had plans to rely on their children.
Almost 40% of Gen Zs focus on reducing or managing work-related stress, highlighting their emphasis on work-life harmony and maintain a balanced lifestyle.
With regards to defining healthy ageing, 43% of respondents believe it involves being physically active, while 35% associate it with being free from chronic illness and maintain cognitive function.
The top factors identified as drivers of overall health management were adequate sleep and rest (55%), a balanced and nutritious diet (46%) and regular physical activity (45%).
Dr Sidharth Kachroo, chief health officer at Prudential Singapore K6S , says: “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 for a long and healthy life,” Kachroo adds.
