Study shows large proportion of middle-aged providing financial support to both their parents and children

A new study shows that about half of middle-aged people in Ireland are providing financial support to their parents, while a similar number are still giving money to their children.

The research from the Irish Longitudinal Study on Ageing also reveals that only 3% of over 54s are actually receiving financial support from their offspring.

“What we found is that those over 54, more than half – 51% of them – are providing financial support to their living parents, and also 48% are providing financial support to their children,” said research director Christine McGarrigle.

“Only 3% receive any support for their children themselves.”

The Citizens' Assembly is factoring in this data, as it prepares to vote today on recommendations for the Government on how to deal with an ageing population.

Ms McGarrigle says a significant number of older people are also helping their elderly parents in other more practical ways.

"A quarter report that they had provided help with eating, dressing and bathing to their elderly parents in the last week," she said.

"In fact, on average it was about 4 x 23 hours a week, they also then provided help with other thing like household chores, transportation - and that was for an average of 13 hours a week."

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