For single senior citizens, the minimum budget deemed necessary for a decent living is €2,551 per month, as outlined in the publication by STATEC. The budget is designed to cover essential needs such as a healthy diet, adequate hygiene, and active participation in society.
The study breaks down the expenses for a senior couple, with the food basket valued at €500 and the ‘social life’ basket at €579. It stresses the importance of an active lifestyle for the physical and mental well-being of the elderly, drawing on scientific research supporting this claim.
Health costs for a healthy couple are estimated to be less than €50, specifically €47. This allocation accounts for common illnesses, such as flu and colds, as well as age-related health concerns like joint, dental, or vision problems.
Comparatively, the multimedia basket, covering expenses related to technology and entertainment, amounts to €142, while the personal hygiene budget stands at €110. Notably, housing expenses account for nearly half of the budget, assuming the elderly couple are renting on the private market.
Interestingly, the study reveals that the budget for senior citizens does not significantly differ from that of individuals still active in the labour market. According to Anne Franziskus, the head of qualitative research at STATEC, their needs undergo minimal changes during retirement.
