Living Standards in One-Person Households of the Elderly Population

Abstract

The number of one-person households of the elderly continues to rise in developed countries. The study assesses the standard of living in this type of households. The aim of this study is to explore the standard of living of single older adults (60+) in Poland by focusing on the relationship between demographic and socio-economic factors as well as their objective financial situation and subjective satisfaction on their financial and consumption standards. To evaluate the standard of living in one-person households run by people aged 60 and over, the aggregate (composite) indicator was designed, based on the Economic Living Standard Index method. The key issues relating to multifaceted aspects of sustainable development are both the level and the quality of life. It can be concluded that the elderly people running one-person households constitute a group that is heterogeneous due to their different socio-economic and demographic characteristics, which in turn affect their various living standards. The highest standard of living can be noticed in the households run by white-collar workers, self-employed persons and well educated persons. The lowest standard of living can be observed in the households run by groups of people including farmers, people having income from social sources (without pensions), living on supplementary welfare allowance and persons with lower education level (secondary, primary or less). Remedial measures should be taken for these social groups. The key factors determining the standard of living in one-person households of the elderly are socioeconomic status and education level.