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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Asian families struggle to support children, parents AFP - Wednesday, August 4 Send IM Story Print Asian families struggle to support children, parents SINGAPORE (AFP) - – More Asian families are struggling under the pressure of simultaneously supporting their children and ageing parents, a study released Wednesday said. Longer lifespans and women bearing children at a later age have increased the number of Asia's so-called "sandwich generation," said the study by the Economist Intelligence Unit (EIU). "Across the region, many members of the sandwich generation are squeezed by the financial burden of caring for multiple generations and are concerned that their future living standards will decline," it said. One in five working-age Asians is now a member of this group, said the EIU study, sponsored by investment product and services provider Fidelity International. Members of this cohort are typically aged between 30 and 45, married and support one or two children and two parents or parents-in-law, and their size varies across the region, according to the study. In China, 37 percent of the working-age population cares for both children and elderly parents, while in Japan and Australia the figure is only six percent. Due to financial pressure, members of this group are working harder, saving less and taking fewer risks with their money, the study said. "More than one-third... have had to work harder to cover family expenses since becoming 'sandwiched', about half have reduced their savings and investments and nearly two-thirds are more cautious with their existing investments than they would otherwise be," it added. More than a third -- 36 percent -- of them say they are "struggling to cope" with the demands of supporting both children and ageing parents, with the number higher in Hong Kong at 53 percent. Filial piety, however, remained strong, with 78 percent agreeing it was their responsibility to care for their aged parents, according to the study, entitled "Feeling the Squeeze: Asia's Sandwich Generation." While children's education is a major expense, providing healthcare for elderly parents is an additional burden especially in countries with weak social security systems, the study said. EIU said it interviewed 700 respondents in Australia, China, Hong Kong, Japan, Singapore, South Korea and Taiwan who are supporting both children and elderly parents. They interviews were carried out in March and April this year. Recommend Send IM Story Print Related Articles Three children die in latest China school attack Reuters - 1 hour 12 minutes ago Suicide attack kills a top Pakistan police chief AFP - 1 hour 54 minutes ago Devastating Pakistan floods now threaten food crisis Reuters - 2 hours 35 minutes ago Sehwag battles for India after Samaraweera ton AFP - 2 hours 40 minutes ago At least three dead in knife attack on China school AFP - Thursday, August 5 News Search Top Stories Israel cuts down trees that caused Lebanon clashes British bank Lloyds returns to profit in first half Wimbledon finalist Zvonareva triumphs at WTA tennis Isner ousts Thiemo de Bakker in Washington tennis Societe General sees second-quarter profits triple More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Elite US cyber team courts hackers to fight terrorists US obesity growing 'faster than anyone imagined' Spanish resort city readies to host Michelle Obama, daughter Fearful Americans save more as recovery slows Schumacher says 'sorry' for Barrichello move More Most Viewed » Parachuting donkey shocks Russian beachgoers Argentine students crack three-decade-old murder mystery World's first full face transplant man appears on TV Paris Hilton caught with cannabis in handbag Calcium supplements linked to heart attacks: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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