While India's ageing population increases, an alarming trend is reflected—over 53 per cent of urban elders financially rely on their families. The India Intergenerational Bonds Report 2025, published by HelpAge India, reported that 53 per cent of urban elderly respondents are partially or entirely dependent on others for money. Dependence tends to result in loss of autonomy over decisions and generates emotional strain.
Independence Associated With Dignity During Old Age
The study, which surveyed 5,798 respondents across 10 cities, reports a strong correlation between economic independence and perceptions of respect and worth among seniors. Seniors who earn or control their own funds are likely to feel engaged in family decisions and more dignified.
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"Elders will say, 'We are told about the plan, not asked'," the report observes, highlighting how being dependent can result in being left out of significant household decisions. Elders who are not dependent on anyone for money, either in the form of pensions, employment, or savings, report enhanced emotional well-being and a greater purpose in life.
Women And The Oldest Age Group More Vulnerable
Financial dependence is different among people. The report concludes that female and people aged 80 and over are most vulnerable. Around 68 per cent of the fully dependent seniors depend on children or kin for all expenditures. For elder women, 18 per cent are fully dependent, in contrast to 11 per cent of men. Higher age, illiteracy, and poor health are most important factors that restrict their economic independence.
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Education Is A Big Factor
Elders who received some formal education were more likely to be financially independent. Of the 63 per cent of elders with a diploma or graduate education, 63 per cent said they were independent, while only 22 per cent with no formal education stated being independent.
Youth Underestimate Their Financial Role
The report also identifies a discrepancy between what the elders encounter and what younger relatives perceive. While 55 per cent of seniors report that their children assist with ATM withdrawals and 40 per cent with health insurance, just 23 per cent and 18 per cent of young people, respectively, report providing such assistance. This indicates that a good number of youth might not know the amount of assistance that they already provide and how crucial the assistance is to their seniors.
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This disparity in understanding influences the way families prepare for the future. Without open discussions about money, assistance can be provided without organisation, causing stress for both generations.
Retirement Planning More Crucial Than Ever
With the growth in nuclear families and increased life expectancy, retirement planning became a necessity. The report reveals that financial independence enables the elderly to live more comfortably and with greater confidence. It also lightens their emotional load and enables them to feel more in control of their lives.
Creating a retirement corpus by way of savings, pension programs, or other sources of income can reduce the likelihood of dependency in old age. Medical cover is also crucial since 74 per cent of the elderly reported needing assistance with mobility and transportation, and 70 per cent needed assistance with managing money.
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With almost one out of every five Indians likely to be 60 and above by 2050, how to age independently and with confidence would depend on the financial decisions one made in youth. The families also need to begin being more honest with each other about money and resource support so that elderly people do not feel left behind.
