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Sunday, 16 August 2026 Reading Room
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World

General : SARA To Continue Despite Country Facing Current Global Economic Challenges - Amir Hamzah

TAWAU, Aug 16 (Bernama) -- Efforts to provide assistance to the people through the Basic Rahmah Contribution (SARA) programme remain the government's priority in preparing the 2027 Budget despite the current challenging global economic environment, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

bernama.com ·

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When basic pension increases by 1%, support from children decreases by 0.16%. This shows that basic pension plays a role in replacing private support. According to a research report 'The Impact of Basic Pension on Private Support for the Elderly' by professor Song, Yong-woo of Chung-Ang University on 21st, As basic pension amount increases, private support from children decreases. A 1% increase in basic pension leads to a 0.16% decrease in private support. The report analyzed the case of elderly people who receive basic pension and those who do not. The report used data from a survey on 9,183 individuals aged 65 and older, conducted by Korea Institute of Population and Social Security Research in 2017. The report found that basic pension does not simply fill the gap in private support but plays a role in replacing private support. The report also found that basic pension has a positive effect on subjective well-being of the elderly. The report suggested that basic pension should be designed to reflect increases in housing expenses and living costs for the elderly. The report also suggested that basic pension should be designed to encourage the elderly to work.

·hani.co.kr

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