financial security and planning mid-life planning quality of life

Longevity impact on retirement planning

Thanks for reading! In this newsletter, I try to breakdown longevity impact on planning, and how decisions you make today can have a compounding return on your future life.

Now, let’s dive in!

Retirement planning, and missing pieces

Retirement plans put a smile on everybody’s face. For many that can afford to stop working, it is the culmination of family and work responsibilities, and the start of a new journey. It may result from the natural end of a career (60 to 65 years) or through a planned event (early retirement, etc). Each individual and family plans differently and have a set of different priorities. Some people look forward to it with a fresh set of plans, others intend to spend more time with their family and friends, and some others prefer to take it easy. Without going into nuances, Aegon’s 2015 Retirement Readiness survey points to Indians having a very positive perception of retirement, and a majority are comfortable with their retirement plans.

Over the last decade, one can notice the professionalisation of retirement planning, thanks to more financial products and services, and rise in SEBI registered financial advisers, and this has allowed for investments in market-linked returns adjusted to risk profiles. These options through conventional institutions and new digital platforms, aided by rise in economic opportunities, could be reasons for such optimism among the young. Traditional media and aggregator platforms continue to cover this space through various articles, insights and tools.

A large proportion of older adults in India continue to co-habit homes with their families, and manage their expenses with returns from fixed instruments (FDs, senior citizen schemes, etc) or through pensions and rental income, where available. They have very little wiggle room when it comes to deviation from their planned finances.

With average lifespans rising by almost 10 years in two decades, the impact on longevity on such plans are largely underestimated. While most (retirement) planning calculations work on simple inputs – age of retirement, life expectancy, inflation, expected rate of return, current savings, future expenses, etc, – they also tend to look at life after retirement as a stable set of years with an incremental rise in household/family spend.

Today, it is not difficult to find a bunch of retirement calculators with such simplistic assumptions. The question is, what are they missing?

Health spending, medical debt and out-of-pocket expenditure

According to the LASI study, it is estimated that by 2030, 45% of India’s health burden will be borne by the older population. Low levels of public spending (particularly in geriatric care), longer lifespans, rise in chronic conditions (cardiovascular diseases, hypertension, diabetes etc.) and multiple co-morbidities will further push the cost of healthcare for very many of us.

In 2019-20 alone, 5.5 crore Indians were pushed to poverty by medical debt, which can be attributed to many factors including lack of insurance coverage, limited coverage, high cost of care, medical inflation, etc. The out-of-pocket (OOP) expenditure on health care depends on many factors; household income, type of illness, age, sex, type of health facility and quality of care. OOP expenditure on health stands at a worrying 60-65 percent, the highest in the world. While private sector dominance in healthcare provision in urban India (out-patient care, hospitalization, etc) is well known, lack of serious healthcare/medical regulation is unlikely to bring such expenses down in the near future.

According to this study, the monthly per capita expenditure (MPCE) of elderly households is higher than that of non-elderly households possibly due to higher health spending of elderly households compared to non-elderly households (3 times more).

Impact of medical debt and OOP expenditure can be particularly acute in elderly households and households with elders given their sources of revenue are limited and/or fixed.

Health insurance market, medical inflation and treatment costs

With only 137 million lives covered in FY20, India is also a largely underserved market for health insurance. As per the LASI study, only 18.2% of those aged 60 years have health insurance; it is at 23% for those in 45-59 age group; overall 21% of those aged above 45 years are covered by insurance.

This article highlights the market failure and unimpressive outcomes from opening up the health insurance market more than two decades ago, and the rise in cost of insurance premiums.

Retail health insurance has always followed an ‘age-band pricing’ approach where policyholders in a particular age band pay an identical premium and see their premium jump as they move bands, especially amongst higher age groups. Adding to this is the premium revision by insurers, usually in a block of two-four years to keep pace with medical inflation. These factors together can see premiums jump to as high as 50 percent on renewal leading to large risks of selective lapsing.

Deepti Bhaskaran, ORF Expert Speak

Premium revision linked to medical inflation and age-band pricing can have a particularly negative impact on insurance premiums of older adults. Furthermore, health insurance purchase is an onerous task for older adults without family or professional support. While exclusions for older adults have improved over the years, insurance sales, repurchases and claims processing continues to be a very messy operation, and infrequently regulated by IRDAI.

report by Mercer Marsh Benefits said forecasted medical trend rate will be 10 percent in India, while inflation will be at 5 percent. With respect to the diseases, respondents from Asia (including India) said that increased non-communicable diseases will increase employer-sponsored healthcare costs over the next 3 years. These diseases include heart disease, cancers, stroke, chronic respiratory diseases, diabetes, Alzheimer’s disease, mental illness and kidney diseases.

The cost of healthcare, and particularly medical treatment, has been rising in India, and has particularly accelerated due to the pandemic. Higher hospitalization charges due to covid-related protocols, additional procedures, etc. have been par for the course. It is estimated that the healthcare expenditure will rise two-fold, and form 11% of private consumption expenditure from the current 5% thus sucking away hard-earned rupees away from other expenditure items. While healthcare facilities and access to modern medicine have improved significantly, affordability continues to be a major challenge. For example, a major medical treatment expense can affect a well-planned retirement plan. An expert tracking the space advised purchase of health insurance early on (to avail differential pricing) and a medical treatment corpus as two ways to deal with such emergency situation. There are likely other options to be explored in the context of one’s support system. For example, Beshak’s Critical Illness Handbook provides a deep-dive into insurance options as an independent and unbiased voice of experts, and is thus highly recommended.


In conclusion…

Planning for retirement is different from planning for a better quality of life. Apart from sound financial health and early planning, it is also important to consider options associated with age-linked care assistance (home care services), short- and long-term medical care, alternate living/custodial arrangements, and other later life transitions. While there is no perfect algorithm that can help arrive at the right plan, it is also never too late to ponder over the question, be it 40 or 75!


Grandparenting: Caring or Caregiving?

Joint families, urbanisation and intergenerational communication

Thanks for reading! In this newsletter, we will look at new family groups and older adult development through the lens of grandparenting.

Now, let’s dive in!

Joint vs Nuclear Families: What are we missing in this debate?

In the 2011 census, the share of nuclear households was 52.1% — 12.97 crore nuclear out of 24.88 crore households. From 54.3% of the urban households of 2001, nuclear families have fallen to 52.3% of all urban households while they have seen a rise in rural areas. The 2011 census further introduced new categories of nuclear families, adding more complexity to the mix.

According to the government yardstick for classifying family size, a subnuclear family is a fragment of a nuclear family, such as a widow with unmarried children, or siblings living together. Supplemented nuclear families include a nuclear family’s members plus other relations, without spouses. Broken extended nuclear families comprise a head without a spouse with other relations, of whom only one has a spouse. A joint family can be of various compositions, including parents with married children.

According to the National Sample Survey data, the overall increase in nuclear households is at best modest. Moreover, the rise in the number of nuclear or fragmented households is actually a rising trend in rural areas (due to rural-urban migration, non-family employment and female employment) while similar shifts are lesser in urban areas, likely attributed to cost of housing. The need for childcare and the ability to provider better care for parents also helps reverse the trend and drives the rise in urban joint families. With increased lifespan, one can witness multi-generational households living in shrinking spaces and negotiated living arrangements in age un-friendly cities and older adults in rural areas living by themselves. While India on an average is urbanising much slower than other countries that have gone through similar demographic trajectories in the recent past (South Korea, China, etc), certain states and union territories are urbanizing much faster than the rest. This is as much a challenge with urban planning as it is about affordable housing in cities.

As per another study published early this year, the number of seniors living alone is highest in Tamil Nadu, and likely accelerated due to migration of young adults for education, marriage and business. The same survey also highlights that most elders prefer to move to smaller towns or move out of their houses when their children start their own families. Kerala, with the highest proportion of senior citizens, continues to see rise of old age homes in urban pockets, attributed to rapid urbanization and high levels of outward migration.

All of these factors, along with the acute impact of the pandemic on the elderly (restricted mobility, social isolation, anxiety, limited health access, etc), makes intergenerational communication an important factor in maintaining strong intergenerational relationships.

Grandparenting: Generativity vs Stagnation

Care for older adults is at the heart of most family conversations, and particularly more so during the pandemic.

The Swedish psychoanalyst Erik Erikson coined the term Generativity, in the 1950s, as part of his theory around human development set in 8 stages. In his book, the Eight Ages of Man, he demystifies the fashionable insistence on dramatizing the dependence of older generation on the younger one, and argues how mature adults also need guidance and encouragement from those before them to truly mature. Generativity is simple terms defined as the concern in establishing and guiding the next generation, and this quite likely is at the heart of grandparenthood.

“I wouldn’t say we were caregivers; we were just caring for them”

This line that I read in a blog post is likely how most Indian grandparents would define their role in taking care of their grandchildren.

Studies around grandparental caregiving, particularly around their physical and emotional health, are uncommon in India although grandparents contribute disproportionately towards child and family care. While the importance of the role of grandparents in the developmental phase of children is widely understood, the changing parenting styles and choices lead to more contemporary issues. From 24*7 grandparents in joint families, the role of many can now be described as supportive on-call grandparents.

Ageing parents who are economically self-sufficient are increasingly choosing to reside separately, and those that are grandparents among them, spend a considerable part of their post-work lives as (primary or secondary) caregivers for their grandchildren. During this phase, which can last from a few years to a decade, they turn to adaptive living arrangements that includes moving between multiple quarters. Such adaptive arrangements are also common among older adults splitting time between their home and that of their children. Many older adults also provide care for the oldest among them thus extending their role as caregivers.

Understanding the changes in family compositions can help understand the impact on the quality of life of older adults, and grandparenting is one such critical phase in older adult development and evolution. Given it completes a certain intrinsic desire, to be grandparents, it is also a time to reflect upon late-stage care and living arrangements for sustained wellbeing.

UNFPA/HelpAge Report

15th June is World Elder Abuse Awareness Day. Read the recent UNFPA sponsored report by HelpAge – Bearing the Brunt – about the impact of COVID-19 on Older People across low- and middle-income countries through data, case studies and individual stories.


Seniorcare Ageing Growth Engine (SAGE) is accepting applications

Government equity participation of upto Rs. 1 Crore in senior-focused startups

In this newsletter, I will provide an update on the startup fund (Seniorcare Ageing Growth Engine) launched by the Government of India. More public interest and less coverage or analysis.

Seniorcare Ageing Growth Engine (SAGE) is an Initiative for promoting aged-care products and services by Ministry of Social Justice and Empowerment (MoSJE), Government of India.

It will identify, evaluate, verify, aggregate, and deliver products / solutions / services directly to the stakeholders, giving them wide choice to select the products / solutions / services that would suit their requirements, thereby improving their quality of life. The Ministry would act as the facilitator in the process while ensuring that the products / solutions / services are made available to a large number of needy people.

Selected Companies would be supported by Government equity participation of upto Rs. 1 Crore and showcased on the platform, developed by MoSJE, thereby enabling wide outreach among the users.

Steps to fill SAGE Expression of Interest

  • Step 1 – Fill Company Registration Form
  • Step 2 – Company can log in to fill the application
  • Step 3 – Company may add more than one product / service (Expert Committee
  • Evaluation will be carried out on a product basis and not on a company basis)
  • Step 4 – Fill the Financial details of the Company
  • Step 5 – Fill Profile of professionals/employee details

This website is compatible with desktop only. (Registration through Mobile is not compatible)

Last date for Registration: 30 June 2021

Last date for Submission of Application: 10 July 2021

For any details related to submission. Please write to us on email: / Mobile No: +91 70601 33531

For more information, visit

Some relevant posts about this emerging market

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quality of life Uncategorized

What is the right ‘old age’?

Elderline, longevity, happy ageing and quality of life

Thanks for reading and subscribing to the Silver Angels Newsletter. I cover news focused on the Silver Economy, with a focus on research, media, entrepreneurship and impact. In this newsletter, I attempt to expand the language around ageing in the context of developments over the last three decades, and why retirement age doesn’t define old age.

Let’s dive in!

📣 Language of ageing

The wellbeing of senior citizens is part of the Constitution of India, under Article 41. India came up with its first ever policy centered around well-being of older persons in 1999, also declared the year of older persons by the UN. This policy laid out strategies to improve the quality of life of senior citizens through interventions in areas of financial security, healthcare and nutrition, shelter, continuous education, protection of life and property, and welfare of the programs to the most vulnerable among the older persons. In 2011, a national policy on senior citizens that integrated various services and benefits (pension, travel concession, etc.) to improve access and provisions for seniors was published. Drawing from active international efforts in the space, the policy advocated for dignified life for older adults through ageing-in-place services, financial support for assisted living facilities (old age homes), protection against abuse and neglect, and much more.’

The UN declared 2021-2030 as a decade for healthy ageing, defined as “the process of developing and maintaining the functional ability that enables wellbeing in older age”. It identified four areas for action – age-friendly environments, combatting ageism, integrated care, and long-term care – and this was followed by the WHO’s 2016 global strategy, which lays out an action plan to meet these goals centered around ageing and health. These and many other developments around the world have helped evolve the language around ageing over the past two decades– positive ageing, productive ageing, healthy ageing, happy ageing, active ageing, better ageing – into something more nuanced, relevant and futuristic.

One of the interesting aspects of studying ageing is the evolving language and context of usage, and how it impacts the way we frame a problem or an opportunity. The intergenerational changes further alter the perception around ageing, and strengthen the movement away from the binary of working and retired lives, which is largely a creation of formal workforce arrangements.

In the Indian context, a senior citizen is somebody over the age of 60 and thus acquires special rights under law, is eligible to avail certain entitlements and concessions, and gets credits in the Indian government tax system. A senior citizen dependent is also a tax-saver for a family, as highlighted in the article. Simply put, the definition of a senior citizen influences the financial and non-financial aspects of the elderly in India, and it is all the more relevant in the case of those dependent on the government for basic needs and protection. It is estimated that old age pension covered 28 million individuals across the country in 2019-20, the largest of the three major disbursements under the National Social Assistance Protection (NSAP).

🎈 Age in the context of longevity

Imagine this. The average lifespan of general population in India (longevity) has increased from 62 years in 2000 to almost 70 years in 2018. That is a rise of 8 additional years post the age of 60, termed as the cutoff age for senior citizen qualification!

In short what we have is a single standard cutoff age for a moving average for a population demographic with multiple indices around general wellbeing. You are more likely to see an active 75 year old Indian person raring to make her next youtube video than you did three decades ago.

Now, let us look at a few other countries.

Senior citizens in South Korea are those with a chronological age of 65 years while in the US, it could vary for different provisions and benefits. The federal health insurance (Medicare) kicks in at the age of 65 while getting policies around driving licenses vary from one state to the other, between 64 and 80. Taking a completely different view, Denmark categorizes people between 60 and 80 years into the third age group and those over 80 years into the fourth age group. The paper Think Tank – The 3rd Age from a reputed Danish think tank articulates 7 key challenges and 33 recommendations to develop what it terms as a good life for the third age group. A joint committe of the Japanese geriatrics and gerentology societies proposed to increase the age of elderly to 75 years and above considering those between 65 and 75 years continue to be active and feel uncomfortable being treated as elderly.

In short, there is no universal senior citizen and old age is not defined by one number.

⚡ Marketplace to improve Quality of Life?

It is well identified that a lot of factors contribute to increased life expectancy among general populations including sustained investment in health, education and so on. A developing and emerging country like India measures its progress over time by the improvement in access to basic and essential needs (food, shelter and clothing) of a larger population and improvement in overall standard of living (rights, life expectancy, safety, income equality, environment conditions, etc.). While standard of living comparisons help benchmark globally, they do not necessarily reveal the quality of life among those living longer.

It has been observed that subjective wellbeing is crucial for later life satisfaction and is an important determinant of quality of life. Aside from meeting basic needs, financial security, continuing participation in societal activities, better geriatric care, availability of supportive and assistive devices, better living arrangements and general life satisfaction play a crucial role in enhancing the quality of life among older adults.

Looking at the eldercare market from the perspective of quality of life improvements can help build a vibrant silver economy and a marketplace of reliable services spread across various needs. Affordability and access to such services are going to be key to ensure such improvements reach the next half billion.

Here are three such opportunity areas –

  1. The Alzheimer’s and Related Disorders Society of India (ARDSI)’s 2018 Dementia India Strategy Report estimates 14.3 million Indians with dementia by 2030 and the cost of care to touch 0.5% of the GDP. Given elderly are particularly vulnerable for dementia and other chronic conditions, this space needs better attention given its impact on the quality of life.
  2. In a previous article, I touched upon the transition from one-size-fits-all approach of old age homes to various formats of care and living arrangements, and in another article, about the growing ageing-in-place services in India. These efforts help improve the quality of life of older adults while presenting a clear opportunity for the future.
  3. While the shortage of doctors and nurses in India is well covered, the estimates around demand for caregivers for an ageing population is not fully understood. With global shortage of caregivers for elders, investments in this space can result in disproportionate improvements in quality of life. According to official estimates, Israel, a country of around 9 million, is home to 15000 Indians out of which 13500 are registered caregivers. While the Government, through industry partnerships, has developed certain standards for this industry, this is an area with immense opportunity to create jobs.

🖨 Mainstreamed

Articles from mainstream newspapers and magazines that touch upon the Silver Economy in India, and our short take.

Launch of Elderline by Government of India

The dedicated number 14567, along the lines of similar efforts in the past for children, is operational in UP, MP, Rajasthan, TN, Karnataka & Telengana through public-private partnerships. The service will be rolled out in other states over time and in the first three weeks, received 475 actionable calls seeking emotional support, information on pension, old age homes and other issues.

Eldercare while working from home, blog post in People Matters

“It is much more common and comfortable for people to talk about their children at work than it is to talk about aging and/or ill parents. So you cannot assume that your boss or peers know or understand your situation. Eldercare is also highly unpredictable and can therefore be highly disruptive to your workday. So tell your coworkers about your caregiving status and ask for their compassion during this time.”

These lines resonate across offices everywhere and drive the benefits programs in even the most progressive organizations, undermining the role of employees in the wellbeing of their parents/elders in the family.

Zero-sum game of caregiving by Rahul Desai in Firstpost

In this interesting personal journey, the author ventures into the world of caregiving through characters in three movies, and looks at his future self as possibly being one (or not) for his parents. I will also add the Netflix show, The Kominsky Method, to the mix of movies covered in the article – Solos, The Father, and Dick Johnson Is Dead.

Medical emergencies and lonelineness by Anubhuti Matta in Forbes

Emoha Eldercare, a Gurgaon-based eldercare company with 3500 members, launched a bike-based first responder to attend to accidents, perform CPR and offer first-aid. The company claims to have saved 40 lives through this service, and has also launched active ageing programs online to keep elders engaged.

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Old Age Homes to Branded Senior Care

Edition #14: Shifting the conversation around ageing, dignity and care.

Thanks for reading! The conventional ‘old-age home’ model is evolving into various senior living and care formats. In this newsletter, we look at key developments shaping this transition in the following two sections.



Now, let’s dive in!


The senior care ecosystem in India is undergoing a shift and so is the language around ageing and care. In this section, we look at how conventional ‘old age homes’ are likely to give way to regulated, branded, standarised and specialized formats of care.

HelpAge estimates that India has 1279 old age homes split between paid, free and mixed models, and also those that provide medical care and are exclusive to women.

Their 2019 report on homecare highlights the acute shortage of infrastructure, geriatric care facilities and trained manpower, and in particular number of beds per hospital at the district-level.

According to M H Dalal, Founder and Chairman of the Association of Senior Living in India (ASLI), the broader senior living market is split into eight different formats (illustration provided below). He also articulates the need for regulation to keep in mind the different formats of care as is the case in globally evolved markets, and that the same facility may offer more than one format.

In this LinkedIn post, Pankaj Mehrotra, a consultant on senior living and elder care services, identifies four broad formats and multiple sub-formats within the senior living space.

Our Take: The elder care and senior care market in largely urban areas, while still nascent, has the potential to in the next couple of years thanks likely to an enabling ecosystem. We could also see a rise in both government and private sector models (and likely PPP, similar to skill development) emerging in rural and peri-urban centres to fulfill the demand. States like Kerala with a larger proportion of older adults are already seeing a substantial increase in number of applications for old age homes.

In the short-term, the major challenges continue to be India’s low spend on senior citizen specific schemes and programs (estimated at 0.038% of GDP), lack of interest among philanthropy/CSR (vis-a-vis education, health, livelihood and other programs), limited research on ageing and data inadequecy, low awareness about ageing and implications of longer lifespans on society, and, limited availability of private and impact capital for market-driven models. With certain policy changes and enabling provisions, the government has shown its intention to reform this sector.

The Maintenance and Welfare of Parents and Senior Citizens (Amendment) Bill, 2019 in PRS India website

Our Take: The bill, introduced in the Parliament in 2019, replaces the term ‘old age homes’ with more suitable language (senior citizens care homesmulti-service day care centres) along with provisions for minimum standards for food, infrastructure, medical facilities, recreation, staff, safety and security, and other aspects. Similarly, the bill also introduces requirement of registration and basic standards for home care services,makes it mandatory for healthcare facilities (hospitals) to provide relevant facilities for senior citizens and codifies police protection at a station-level. Given the low number of such government run homes (482 in 2019), the bill allows for care homes to be setup by the central or state government, or any other organization. With the passing of the bill and subsequent notification of the Act, it will bring existing and new elder and senior care service providers under the ambit of the law while ensuring basic standards and safeguards.

India to require 9 lakh beds for elderly by 2027 against 97,000 by Chittaranjan Tembhekar in Times of India

Our Take: A 2018 report prepared by Tata Trusts, UNPF and Samarth estimated that India would need 9 lakh beds by 2017, three times the availability, extended across both care homes and living facilities to meet the demands of elders. Basis a sample set of 480+ old-age homes and 60+ senior-living developments in India cutting across geographies, size, cost, facilities, ownership and management, the study identified 5 key result areas (infrastructure, management of facilities, dignity and respect, safety and security and physical needs) and 28 performance metrics to ensure comprehensive, measurable and practical standards. These and other recommendations could play a key role in shaping both infra-led and ageing-in-place care for elders.

Retirement home guidelines are finally here by Meera Siva in The Hindu

Our Take: A Moneylife-HDFC study in 2019 found that around 65% of senior citizens living in such facilities did not sign a contractual agreement on the services and their rights, and 100% of them wanted to see regulation of retirement homes. Considering these inputs, the government, in 2019 recognized retirement homes as a separate asset class thus making such developments subject to the Real Estate (Regulation and Development) Act, 2016. Further, the government also published a well put laid out model guidelines for development and regulation of retirement care homes including service standards for various facilities (medical, fitness, security, etc). The report has an excellent comparative of the two payment options (lease/deposit, ownership) prevelant in senior housing models, advantages and their disadvantages.


Emerging models, new initiatives and best practices that influence or drive the Silver Economy.

Senior Housing search tool by Samarth

Goto and look for a senior living facility or old age home for you or your family. It is a easy-to-use tool and they advise users to make personal enquiries upon locating a facility.

Sukh Dukh Helpline by Pallium India in partnership with MIND India, Caregiver Saathi and Edjacklegs.


HUL and Portea partner to drive Mission Hope in Delhi and Bengaluru


All of us likely read about the unfortunate death of a 30-year old woman from Kerala, in Israel recently. Here are four stories picked up from mainstream newspapers and magazines, and the parts marked in yellow refer to her occupation in these articles.

This difference in reference also highlights the general lack of awareness of the differences between various jobs (domestic help, caretaker, caregiver, nursing attendant, etc) and activities involved in providing (elder) care.

Stay Safe.

Thoughts, feedback, questions?

Want to share your work or interesting articles? Feel free to reach out at any time via email:

Silver Angels is an independent platform tracking the Silver Economy in India. No advertising or sponsorship.


Rise in Teleconsultation and Digital Adoption Among Elders

Edition #13: Hybrid care models, active ageing programs and silver superstars

Thanks for reading! In this newsletter, we will focus on how elder care organizations and programs have adapted to the needs of elders as a result of the pandemic. It has three sections.




And a special section, Silver Super Stars! Now, let’s dive in!


Articles from mainstream newspapers and magazines that touch upon the Silver Economy in India, and our short take.

Reinventing healthcare delivery with telemedicine, by Practo and the Telemedicine Society of India (TSI)

Our Take: The report captures only those people that used Practo’s service between the first wave (March to Nov 2020), and noticed an over 500% rise in consultations among people over 50, making them a significant customer base. The same report also identified a rise in online mental health consultations and queries. You can also read this article about the potential role of telemedicine in the broader ehealth space, triggered by the Telemedicine Practice Guidelines issues by the Government in March 2020.

Training and help are now virtual for dementia caregivers by Swati Sanyal Tarafdar in the Hindu Business Line

Our Take: This article reaches out to caregivers of dementia patients, and how online videos and programs are substituting physical meetings. It also highlights a set of online resources from NIMHANS and Alzheimer’s and Related Disorders Society of India (ARDSI) and others, that may be useful for those seeking more information and training. A large part of the last newsletter was focused on caregiving and caregivers, in case that is of interest.

How this senior care organisation is catering to the physical and mental health of the elderly living at home by Anju Ann Mathew in YourStory

Our Take: Having been setup in 2013, Samvedna Senior Care, a women-led social enterprise in the NCR, today offers 360-degree holistic care management including dementia care. Apart from support in making medication available on time, Samvedna has seen a rise in teleconsultation and mental health support, and is building various programs to support elders and their families.


People and models that influence or drive the Silver Economy, and their journeys.

We highlight three interesting models that have emerged in the recent past.

Post Covid Rehab Program in Bangalore, by Kites Senior Care

Dedicated Covid Care Centre (CCC) in Gurgaon by Emoha Eldercare

Counselling Helpline by Samvedna Senior Care

Organizations like Elders FirstAge Ventures and Vardaan provide a range of services and care for elders. For example, Vardaan Senior Care offers both short- and long-term rehabilitation options for elders in their facility.


We highlight some active ageing programs – online learning, social clubs, discussion forums and much more – focused on older adults.

Silver Talkies is hosting this free online event on the secret of Japanese longevity. You can register by clicking here.

Silver Talkies is an online magazine and social engagement platform for 55+. For more information, visit

Seenage.Life is hosting this interesting session on living a medicine-free and disease-free life. You can register by clicking here.

Card image

Seenage Life is a platform for senior citizens to engage with each other, the community and businesses and enables them to lead productive and fulfilled lives. For more information, visit

GetSetUp India is hosting a course on Zoom for Beginners scheduled on May 10th may be quite useful for a lot of them to connect, interact and join online events.

GetSetUp India is an online community of seniors who want to keep learning, connecting and explore. For a day-wuse course schedule, visit

Seniors Today has a webinar section where one can access recorded sessions, largely around health & wellness.

Seniors Today will contain feature-length articles and columns on topics such as travel, entertainment, shopping, dining, health and wellness, and much more. For more information, visit


As a parting note, here is an amazing story by Zubeda Hamid in The Hindu on the rise in older adults in the media and entertainment industry

Saroja. Janaki. Naresh. Micky Singh. Dr Verma. Dinesh Mohan. SN Bhatt.

You know what is common among them all?

They are all professional actors and models in their own right, be it television commercials, movies or print ads. Some of them like Micky Singh, homemaker turned actor at 59, have explored new careers, while others, like Dr Raja Ravi Verma, doctor turned actor and singer at 60, have rekindled their life-long passion. For 78-year-old Janaki Jayaraman, an actor in commercial ads and somebody that lost her husband in 2010, this second career has also given her financial independence.

While silver generation as leads in advertising is (re)emerging, marketers are also capturing mindshare of this important segment for their purchasing power.

Age is just a number.

Stay Safe.

Thoughts, feedback, questions?

Want to share your work or interesting articles? Feel free to reach out at any time via email:

Silver Angels is an independent platform tracking the Silver Economy in India. No advertising or sponsorship.


The Elder+Care Market in India

Edition #12: Caregiving, Caregivers and the Sandwich Generation

Thanks for reading! In this newsletter, we will focus on various aspects of the eldercare economy, and in particular, the rise in caregiving triggered by the pandemic. This newsletter has three sections.




Now, let’s dive in!


Articles from mainstream newspapers and magazines that touch upon the Silver Economy in India, and our short take.

How Eldercare Market Is Evolving In 2021 by Aditya Rangroo & Smita Mehta in The Entrepreneur

Our Take: The (urban) eldercare market has broadly two kinds of customers – older adults and younger family members. Older adults are mostly 55 and above, and depending on their individualized needs, the support sought could be very basic (to support daily living needs) to one that is more holistic, integrated and specialized. Younger members are largely folks that have at least one older adult in the house or family that needs support.

  • Member subscriptions and custom plans are usually the way such services are offered by companies in this space.
    Fixed Plans: Flexible and transparent membership plans that offer a clear rate card and services. Examples are ElderAid in Bengaluru, Ahmedabad and Kochi, Alserv in Chennai, Emoha Eldercare in Delhi NCR (and pan-India), Anvayaa in Hyderabad (and multiple locations) and Samarth Eldercare in Delhi (and multiple locations). Additional services, where sought, are charged additionally provided they are able to deliver such services in the locations.
    Custom Plans: Larger organizations like PorteaCare24HCAH and Nightingale Eldercare provide toll free numbers to setup consultations as a way to structure more personalized plans given the range of services offered by them is fairly extensive.
  • The common delivery model is to assign a care manager/service executive to assist with customer needs, and layer it by integrating technology solutions (website, app, etc).
  • While some of the large organizations have in-house training and employees on roll, most of them use an extended network of care providers (hospitals, labs, grocery chains, etc) and skilled personnel (caregivers, house safety and repair technicians, etc) to deliver care.

Time to Care: Unpaid Care Work in India, Oxfam Report (India Supplement)

Our Take: Care work covers a broad-spectrum (including childcare, eldercare, familycare, etc) and much of it is unpaid or low wage, and exists in informal systems. Given that women are the majority primary caregivers across the care spectrum, there is a disproportional impact on the quality of their lives reinforcing gender inequality in care work. Oxfam’s India-specific supplement captures this reality, and also highlights how time forms a conceptual point of assessing impacts of unpaid care work and stresses the importance of capturing time-use data, which is not part of national statistical systems anymore. You may also refer to these articles for more insights.

Why India’s middle-aged are the new sandwich generation? by Chandrika Radhakrishnan in Silver Talkies

Our Take: The article focuses on the sandwich generation, and how middle-aged folks and mostly women are playing a dual role as primary caregivers, managing the needs of the young and the old in their families, in addition to their professional lives. The article highlights the importance of sharing the load of caregiving among other members of the family. You may also read this linked article on caregiver burnout on how continuous caregiving may also result in both physical and emotional strain on the caregivers.

Covid19: Increased demand for 24*7 caregivers by Subhankar Chowdhury in The Telegraph and Atal Vayo Abhyuday Yojana: Government to create pool of caregivers for elderly citizens in New Indian Express

Our Take: As mentioned, in the last newsletter, ageing-in-place services are seeing a fair bit of traction with existing players expanding to new locations and new organizations emerging in non-metropolitan areas, likely attributed to demand for such services due to the impact of the pandemic on elderly. Given rural areas account for over 70% of population over 60, programs by Government and non-profits will continue to fill this gap until business models evolve to cater to this largely underserved populations.

Companies help men get back to work after break by Namrata Singh in Times of India

Our Take: Beyond the clickbaity headline, it captures a more positive development among corporates to recognize the importance of care work through specialized programs. Deutsche Bank’s ‘Return to Work’, UBS India’s ‘Career Comeback Program’ and John Deere’s REAP programs have seen increased participation of women coming back to work after career breaks although the number of men is less than ten across these programs. This re-emphasizes the gender disparity inherent in all sections of society and the need for corporates to do much more to create equal opportunities and career pathways. On a much broader note, India’s female labour workforce participation rate has worryingly dropped over the past decade.


People that influence or drive the Silver Economy, and their journeys.

Bhavana Issar: Breaking barriers for Family Caregivers on the NASDAQ website. Bhavana is the founder of Caregiver Saathi™, a social enterprise that is building a unique model centred around the primary caregiver and the care-receiver/patient. You can read more about her journey and the challeges along the way.


Stories of startups, growth plans and new launches/initiatives.

This agetech startup from India wants to be synonymous with ‘khyaal’ or holistic care for the elderly by Tenzin Pema & Shreya Ganguly in Yourstory

SenCiCare a startup for senior citizens now in Rourkela in India CSR Network

🎃 Pill Box

While pill boxes today are not on the endangered species list, they are less common for one reason: People tend to forget to take, or forget whether they have already taken, their daily meds. Drug companies were quick to notice this and came up with pill counters and weekly “SMTWTFS” pill schedulers, which are good not only for patients but also for drug companies. A pill not taken is a pill not sold. And no one has ever bothered to make these plastic counters works of art.

This History of Pill Boxes:

Anybody up for a Pill Box Design Challenge?

Stay Safe.

Thoughts, feedback, questions?

Want to share your work? Feel free to reach out at any time via email:

Silver Angels is an independent platform tracking the Silver Economy in India. No advertising or sponsorship.


Senior Care Start-up Fund in India

Edition #11: Ageism, care infrastructure, entrepreneurship, advertising and jobs

Thanks for reading and subscribing to the Silver Angels Newsletter. I cover news focused on the Silver Economy spanning research, media, entrepreneurship and impact. This newsletter has three sections.


·         NOTICED

·         IMPACT

And an EXTRA! JOBS! section highlighting a few jobs in this emerging sector.

Now, let’s dive in!


In this section, we will present articles from mainstream newspapers and magazines that touch upon the Silver Economy in India, and our short take.

Senior Care Ageing Growth Engine (SAGE) start-up fund in India

Our Take: The Ministry of Social Justice and Empowerment, through an empowered expert committee, organized a consultation with prominent investors and practitioners in the eldercare space, on the 12th of April, 2021. The fund, estimated to be around INR 100 Crores initially, is the first-of-its kind in India, and has the potential to catalyze entrepreneurial activity and bring much needed capital and support. This initiative also opens up two potential opportunities – (a) more private capital for businesses with growth plans, and, (b) a supportive and enabling ecosystem that includes mentoring, incubation and business support for early-stage businesses.

It would also be interesting to see efforts towards creating and supporting older entrepreneuers, and if one were to go by inspirational stories from India, here is one about Captain C P Krishnan Nair starting Leela hotels in his 60s, and turning it into a world class luxury chain.

Making the world more elderly friendly by Harish Bijoor in the New Indian Express

Our Take: Harish Bijoor is a brand specialist and makes a case for India to be a leader in eldercare management, and goes on to propose an elderly audit on businesses, infrastructure and societal attitude (ageism) to address the deficiencies in the way we engage with the elderly. Branding specialists and advertisers can massively shift the narrative (and language) around older adults, and in particular elders, given the influence their work has on the general population. For example, this article by a communications consultant identifies advertising campaigns that have seniors as actors in them.

Senior Living is a Young Market by Rishi Ranjan Kala in Financial Express

Our Take: This article provides a glimpse into the opportunities in the senior living market with inputs from key players like Columbia Pacific, Antara, Ashiana and Anarock Consultants. For those that are not aware, the Association for Senior Living in India (ASLI) is an independent entity founded in 2011, to create a model for self-regulation and work with government to ensure minimum standards for operational excellence. With active regulation, guidelines and universal care standards, this sector can bring more high-quality players to meet the rising demand for senior, assisted and care facilities.

Care economy: Why India must recognise and invest in care work by Mitali Nikore in the Indian Express

Our Take: While the care economy is an all-encompassing definition of all types of care (childcare, eldercare, specialized care, etc.), the article refers to provisions in the American Jobs Plan towards investments (and not as expenditure) in developing a care economy infrastructure. The formalization of the care economy through systematic investments could not just result in more jobs but also more gender-inclusive growth given much of the care work (informal, semi-formal and formal) is performed by women.

Healthy ageing was never so attractive by Vibha Varshney in Down to Earth magazine

Our Take: The article touches upon the vaccination drive underway and the challenges faced by elderly, and why a door-to-door vaccination drive may be more effective.


In this section we will cover the people that influence or drive the Silver Economy, and their achievements.

Ambi Parameswaran, a senior marketing and advertising executive, is now a brand coach, author and thought leader. He was also one of the earliest to write about the silver generation, and the opportunities for brands and businesses to tap into this population segment.

Check out his conversation (audio-only) with Rutu Mody-Kamdar on HT Smartcast:

Also check out this article about brands using seniors as leads in their advertisements.


In the impact series, we will profile entrepreneurs, organizations, innovative solutions, and their impact.

Seniors Have Talent – Season 4 by Seniors Today, a digital community for seniors.

You can register here if you are over 60 years of age:

The first episode (Round 1, Group A) of ‘Seniors Today Seniors Have Talent Season 4’ will commence on May 9, 2021, and will be aired on Zoom and Facebook Live.


Some open positions in this sector.

  • Sales Manager at Elder Aid Wellness, LinkedIn.
  • Interior Designer at Aaji Care. For the new Elder Care Centre in Andheri, Mumbai. Reach out to Prasad Bhide on LinkedIn.
  • Sales and Marketing Specialist at Elders First, LinkedIn.

Thoughts, feedback, questions?

Want to share your work?

Feel free to reach out or share your work via email:

Disclaimer: Silver Angels is an independent platform tracking the Silver Economy in India. No advertising or sponsorship involved.


Ageing in Place services are gaining traction

Edition #10: Doubling down on vaccination drives to understand mental health and wellbeing of elderly

Thanks for reading and subscribing to the Silver Angels Newsletter. I cover news focused on the Silver Economy, with a focus on research, media, entrepreneurship and impact. This newsletter has three sections.


·         NOTICED

·         IMPACT

And an EXTRA! SOCIAL! Section. Now, let’s dive in!


In this section, we will present articles from mainstream newspapers and magazines that touch upon the Silver Economy in India, and our short take.

How Covid-19 has changed the lives of the elderly by Sandipan Roy in the Mint (HT)

Our Take: The Covid-19 pandemic has affected elderly disproportionately as it has created both social isolation and disconnectedness, and impacted their daily routines and mental health. The researchers of this longitutindal study by the Government of Tamil Nadu and J-PAL reached out to ~5000 adults over 55 years of age, to generate insights on the impact of the pandemic on the elderly, and observed that feelings of loneliness and depression rose between the months of April and July 2020. The vaccination drives, which bring the elderly out at least twice to a medical facility, is a good opportunity for eldercare organizations to directly engage with the elderly in understanding more substantive issues.

Market trends and challenges associated with senior care, an interview with Atul Jagadish of Alserv in the ET World.

Our Take: While a lot of focus in the eldercare space has been towards senior housing and other infra-related projects, older adults and their families today are more open to exploring secondary support systems for at-home or ageing-in-place. With Chennai as the pilot market, Alserv has identified five broad categories to focus in their efforts to provide holistic support for seniors.

Genesis Rehabilitation partners Healthcare at Home to boost eldercare services in the Mint (HT)

Our Take: The professionalization of home care services is expanding to include more clinical care services, including for specific ailments and conditions (stroke rehabilitation, diabetes, post-operative care, drug administration, etc), and this partnership promises more holistic care with a combination of virtual wellness and home care efforts.

Ashok Soota to invest ₹200 crore in research on ageing, neuro health in The Hindu

Our Take: Split equally for partner and in-house projects under the newly formed SKAN Trust, this is one of the largest grants in the broader ageing space in India. The other significant contribution being the Rs 220-crore research grant by Kris Gopalakrishnan, towards brain research and ageing-related studies. While both are research-centric, there continues to be limited philanthropic and impact capital available for #SilverEconomy entrepreneurs in India.

Technology, Ageing and Longevity by Sofiat Akinola of the World Economic Forum

Our Take: While the article provides a global outlook, it is insightful and touches upon some key areas where technology could play a positive role for seniors. Of particular interest was the idea of precision care, which combines the skill of caretakers and the power of data for the well-being of elderly citizens who need care. While technology use, and particularly data privacy, is a contentious topic, it cannot be wished away given the ubiquitousness of smart phones in all our lives.


In this section we will cover the people that drive the Silver Economy, and their achievements.

HelpAge India is the winner of the 2020 United Nations Population Award in the Institutional category, a prestigious global recognition for an organization that has been a pioneer in serving the elderly for over four decades now. The award was announced in Nov’ 2020.


In the impact series, we will profile entrepreneurs, organizations, innovative solutions, and their impact.

Elder First launches a senior co-living space in Gurgaon.


Social media engagement will play a critical role in learning, collaborating and building general awareness about the #SilverEconomy.

Check out this LinkedIn thread started by Ankur Gupta, JMD at Ashiana Housing, and responses on how we can differentiate senior living facilities from care homes.

You can also notice emergence of quick polls on social media, and while it helps to gain insights, you may want to be aware of the role of confirmation bias in such polls.

Thoughts, feedback, questions?

Want to share your work?

Feel free to reach out at any time via email:

Disclaimer: Silver Angels is an independent platform tracking the Silver Economy in India. No advertising or sponsorship involved.


Silver Angels Newsletter gets a facelift

Edition #9: Capturing news, events, celebrations from across India.

Welcome to April 2021! I am attempting a new format this week, with three sections.


·         NOTICED

·         IMPACT

And now, let’s dive in!


In this section we share articles from mainstream newspapers and magazines that touch upon the Silver Economy in India.

‘Second innings’: India’s new-age seniors splurge on themselves, drive growth of silver economy by Smitha Verma at the New Indian Express

Our Take: One of the most comprehensive coverage on the emerging #SilverEconomy, this article covers a lot of ground, from ventures in agetech to companionship services to care facilities and senior-friendly forums and e-commerce websites.

Old Money by Lhendup G Bhatia at the Open Magazine.

Our Take: An interesting take on how businesses, startups and advertisers are recognizing the purchasing power of a ‘largely ignored demography’, elders, particularly accelerated by the pandemic.

Exorbitant health insurance premiums take a toll on senior citizens by Mahavir Chopra in Money Control.

Our Take: The author, Mahavir Chopra, is also the founder of, an independent consumer awareness platform for insurance. His insights of being a senior executive and leader in the insurance space, are both insightful and enriching. Check out the new ratings feature on their website and they even have a forum for you to ask questions to experts.

Do the right thing by Neha Sinha in the Daily Pioneer.

Our Take: A dementia specialist and Founder-CEO of Epoch Elder Care, Neha Sinha brings a first-hand understanding of the eldercare space. In this article, she writes about the various formats of elder care facilities. A must read if you are looking at options for yourself or your family members.


In this section we will cover the people that drive the Silver Economy, and their achievements.

Kites Elder Care wins the Centre of Excellence Award for 2021 in the Deccan Herald Healing Hands initiative. As many as 44 doctors and hospitals were felicitated for their efforts to help Covid patients during the pandemic.

Elder Aid is a winner of the 2020 DBS Foundation Social Enterprise Grant Programme. Being one among 14 global winners, and one of only two Indian winners, it is a recognition of the perseverance of the team and the importance of this space.


In the impact series, we will profile entrepreneurs, organizations, innovative solutions, and their impact.

Aaji Care launches first-of-its-kind home geriatric counseling in Mumbai.

Thoughts, feedback, questions?

Want to share your work?

Feel free to reach out at any time via email:

Disclaimer: Silver Angels is an independent platform tracking the Silver Economy in India. No advertising or sponsorship involved.