About half of the baby-boom generation is just maintaining their livelihood (53.6%).
These baby boomers have no means other than a pension to prepare them for retirement; and with a high dependency ratio on private pension, their income in later years is insecure.
The lack of preparation for later years is attributed to the prolonged burden to provide support for their children.
There is a need for policy measures to support baby boomers to plan their life after retirement, especially in terms of priority given to job creation, removing policy blind spots for those who may be eligible for entitlements, development of professionals, and building of public-private partnership.