Financial transfer and the well-being of older adults: Insights from LASI

Varsha P. Nagargoje, International Institute for Population Sciences (IIPS)

This study explores the impact of intergenerational financial transfers on the well-being of older adults in India, emphasizing the multidimensional nature of well-being, including physical, mental, social, and economic aspects. The study uses the chi square test on data from the LASI wave-1, which comprises 31,320 people who are 60 years of age or older. The Financial independence is revealed as crucial for the overall well-being of older adults. The findings reveal that older adults with the ability to make financial contributions, especially through indirect means, experience higher decision-making power, mental health, and life satisfaction, particularly in urban areas. These results underscore the importance of financial empowerment and socioeconomic factors in enhancing the overall well-being of older adults.

Keywords: Older Adults and Intergenerational Relations, Families, Unions and Households, Population Ageing, Population Policies

See paper.