The financial vulnerability of individuals with diabetes

Deborah J. Schofield; Richard Percival; Megan E. Passey; Rupendra N. Shrestha; Emily J. Callander; Simon J. Kelly

doi:10.1177/1474651410385864

The financial vulnerability of individuals with diabetes

Deborah J. Schofield, Richard Percival, Megan E. Passey, Rupendra N. Shrestha, Emily J. Callander, Simon J. Kelly

Research output: Contribution to journal › Article › Research › peer-review

27 Citations (Scopus)

Abstract

To quantify the impact of early retirement due to diabetes on the level and type of savings among those aged 45-64 years in Australia, the output dataset of the microsimulation model, Health&WealthMOD was analysed. Compared with those who are in full-time employment with no health condition, those who have retired early due to diabetes have significantly lower odds of owning any wealth (odds ratio 0.03, 95% confidence interval 0.00-0.30). Among those with any accumulated wealth, the value of this wealth is 90% less for people who are out of the labour force due to diabetes relative to those in full-time employment, after adjusting for age, sex and education (p=0.037). Retiring from the labour force early due to diabetes is likely to cause large financial stress in the future as not only have retired individuals lost an income stream from paid employment, but they also have little or no savings to draw upon.

Original language	English
Pages (from-to)	300-304
Number of pages	5
Journal	The British Journal of Diabetes and Vascular Disease
Volume	10
Issue number	6
DOIs	https://doi.org/10.1177/1474651410385864
Publication status	Published - Nov 2010
Externally published	Yes

Keywords

diabetes
early retirement
economic impacts
savings

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1177/1474651410385864

Cite this

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abstract = "To quantify the impact of early retirement due to diabetes on the level and type of savings among those aged 45-64 years in Australia, the output dataset of the microsimulation model, Health&WealthMOD was analysed. Compared with those who are in full-time employment with no health condition, those who have retired early due to diabetes have significantly lower odds of owning any wealth (odds ratio 0.03, 95% confidence interval 0.00-0.30). Among those with any accumulated wealth, the value of this wealth is 90% less for people who are out of the labour force due to diabetes relative to those in full-time employment, after adjusting for age, sex and education (p=0.037). Retiring from the labour force early due to diabetes is likely to cause large financial stress in the future as not only have retired individuals lost an income stream from paid employment, but they also have little or no savings to draw upon.",

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AU - Percival, Richard

AU - Passey, Megan E.

AU - Shrestha, Rupendra N.

AU - Callander, Emily J.

AU - Kelly, Simon J.

PY - 2010/11

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KW - early retirement

KW - economic impacts

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The financial vulnerability of individuals with diabetes

Abstract

Keywords

UN SDGs

Access to Document

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