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

Institute for Governance & Policy Analysis

Research output: Contribution to journal › Article › 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	British Journal of Diabetes and Vascular Disease
Volume	10
Issue number	6
DOIs	https://doi.org/10.1177/1474651410385864
Publication status	Published - 21 Dec 2010

UN SDGs

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

Access to Document

10.1177/1474651410385864

Cite this

@article{115f9fa5ae8e4d53a521773c69435ca7,

title = "The financial vulnerability of individuals with diabetes",

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.",

keywords = "diabetes, early retirement, economic impacts, savings",

author = "Schofield, {Deborah J.} and Richard Percival and Passey, {Megan E.} and Shrestha, {Rupendra N.} and Callander, {Emily J.} and Kelly, {Simon J.}",

year = "2010",

month = dec,

day = "21",

doi = "10.1177/1474651410385864",

language = "English",

volume = "10",

pages = "300--304",

journal = "British Journal of Diabetes and Vascular Disease",

issn = "1474-6514",

publisher = "SAGE Publications Ltd",

number = "6",

}

TY - JOUR

T1 - The financial vulnerability of individuals with diabetes

AU - Schofield, Deborah J.

AU - Percival, Richard

AU - Passey, Megan E.

AU - Shrestha, Rupendra N.

AU - Callander, Emily J.

AU - Kelly, Simon J.

PY - 2010/12/21

Y1 - 2010/12/21

N2 - 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.

AB - 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.

KW - diabetes

KW - early retirement

KW - economic impacts

KW - savings

UR - http://www.scopus.com/inward/record.url?scp=79751513338&partnerID=8YFLogxK

U2 - 10.1177/1474651410385864

DO - 10.1177/1474651410385864

M3 - Article

AN - SCOPUS:79751513338

SN - 1474-6514

VL - 10

SP - 300

EP - 304

JO - British Journal of Diabetes and Vascular Disease

JF - British Journal of Diabetes and Vascular Disease

IS - 6

ER -

The financial vulnerability of individuals with diabetes

Abstract

UN SDGs

Access to Document

Other files and links

Fingerprint

Cite this