Policy Brief: the social capital pension - beyond financial aspects of retirement

Introduction

High quality social relationships are vital for our health and well-being. Having supportive and inclusive relationships, that is, being socially connected, protects older adults from the detrimental health effects of social isolation and the feeling of loneliness[1]. Social isolation is an objective lack of social interaction and social connections, whereas loneliness is a subjective feeling that arises when our social relationship needs are not being met[2-4]. Social isolation or loneliness in older adults could increase the risk of developing dementia by 50%[5], the risk of incident coronary artery disease or stroke by 30%[6,7], and the risk of all-cause mortality by 26%[8]. Although the association between the two phenomena is complex, both social isolation and loneliness are predictors of negative health outcomes later in life, including premature mortality, depression, and cognitive decline[9-11]. Depression and cognitive decline in turn often have a negative influence on an older individual’s ability to care for themselves[12-14].

In the Netherlands, about 39% of the households are one person households, with the majority being 60 and older[15]. Although living alone does not necessarily mean that someone lacks social contacts and feel lonely, that does increase the likelihood of social isolation or feelings of loneliness[1,16]. Nevertheless, figures from 2022 show that more than 30% of those who were 55 and older feels somewhat lonely or very lonely[17]. The same figures also indicate that more than 40% of them reported that they miss having wider social networks [17, 18].

Table 1: Loneliness, personal characteristics[17]

The current policy for elderly care is for seniors to “Age in Place”. With this policy, seniors are expected to live at home independently for as long as possible, and if necessary, seek support from formal and informal caregivers[19]. That means that, like the Social Support Act (Wet maatschappelijke ondersteuning), seniors who need help or support are expected to call on their social networks in the first instance[20]. Thus, in order to “Age in Place” successfully, seniors must be able to take care of themselves, and willing and able to seek help when the need arises[21, 22]. If someone is unwilling or unable to ask for help because they do not want to be a burden to others or if they have no one to turn to, it could leave that person struggling on their own[22]. This in turn leads to or exacerbates a sense of loneliness and social isolation, and further affect their physical health.

Studies have shown that the composition, size, and density of an individual’s social changes after retirement[23]. Specifically, ties with family members strengthen whereas ties with friends and colleagues weakens[24]. The size and intensity of relationships are also likely to reduce, which could accelerate cognitive aging[23, 25, 26]. Since the current policy is based on self-reliance[27], including relying on one’s social network, there is a need to educate citizens about the benefits and importance of social connectedness. Older adults should be reminded to invest in their social capital while they are still actively participating in society. Furthermore, greater attention needs to be given to vulnerable groups like older adults with a migrant background or mental health problems like anxiety and depression. These older adults are more likely to experience loneliness and social isolation because they tend to have smaller or weaker social networks before they retire[28, 29, 30, 31], and would need more support with increasing their social connectedness.

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In 2018, the Dutch government started the program “Together Against Loneliness” to reduce loneliness in the elderly[38]. After the COVID-19 pandemic, they widened the program to include people of all ages. For the period between 2022 to 2025, the Dutch government’s policy on loneliness is to create public awareness, provide funds to social initiatives, and encourage municipalities to make continuous effort to tackle loneliness at a local level. The cabinet is also investing in research on loneliness39. A budget of €40 million has been set aside for the period of 2022 and 2025.

The current program against loneliness will end in 2025. Now that public awareness about loneliness has been created, the focus should shift to empowering individuals to establish and maintain social connections, and if necessary, improve their social competence. Employers should also play a more active role.

As mentioned above, the composition, size, and density of an individual’s social changes after retirement[23], whereby the size and intensity of relationships are likely to reduce owing to fewer friends, colleagues, and other non-family contacts in their social network[25]. These could increase the chance of someone becoming social isolated and feeling lonely. Furthermore, many older adults in the Netherlands said that they feel lonely and would like to have wider social networks[17,18]. Social isolation and loneliness in older adults are associated with poorer health outcomes[1], and people with weak social connection are less willing and less able to seek help[21, 22]. Aging in place requires seniors to know when to ask for help, and if they are not able to, the people in their social network could help them do that[22]. If seniors are expected to be self-reliant for as long as possible, we should help them prepare. Many older adults prepare for their retirement financially with the help of their employers, but little attention is paid to their social capital after retirement. The proposal here is to create public awareness of the importance of building up social capital in preparation of retirement.

This policy aims to prepare the older individual for retirement by reminding them about the importance of social connectedness, and helping them build up social capital, i.e., strengthen their social network. In addition, to continue active participation in society, and to keep contributing with their skills and talents. Other major stakeholders include employers, the unemployment office (UWV), municipalities, healthcare insurers, training organizations and social advocacy organizations like Pharos.

Policy recommendations:

Encouraging older adults to invest in their social network, by

-????????? making them aware of the health benefits of social contact through public education

-????????? when someone turn 60, they would receive a letter or email from the municipality about “social pension”. They would receive a reminder at age 65 and at retirement age.

-????????? helping them to maintain or build up their social network through friendship courses and community program that promote social interaction and match them to social activities and volunteer work.

-????????? leveraging and bundling existing resources like community centers and other meeting places, public libraries, places of worship, etc.

-????????? improving and making better use of existing programs that prevent loneliness.

-????????? setting up a social connectedness budget for relevant citizen initiatives

-????????? tax rebate for employers who have programs that help transition their employees into retirement

-????????? UWV and municipalities to provide programs for older adults on unemployment and disability.

-????????? Primary healthcare providers to help disseminate information about social connectedness programs.

-????????? Religious groups and migrant advocacy groups to provide social connectedness programs.

Specification of success criteria:

To gauge the success of this policy, the following parameters will be measured:

-????????? Number of older adults participating in social connectedness programs, like friendship courses.

-????????? Number of employers providing transition programs for employees near retirement age.

-????????? Less social isolation and feeling of loneliness among seniors (measured by public surveys)

Conclusion

Retirement is a life changing event. We have always been told to invest financially for our retirement, but rarely are we reminded about the importance of building up our social capital for our golden years. With the elderly care policy of Aging In Place, and living independently with the help from informal and formal caregivers for as long as possible, people nearing retirement age should be prepared for this scenario. The “social” pension policy aims to help them do that. Together with employers, government agencies, municipalities, and other stakeholders, we hope that this policy would help create a society where seniors feel connected to others and are willing and able to seek help when needed. Most of all, help seniors extend their healthspan and enjoy their golden years. ?

References

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