International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Volume 8 Issue 2
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Financial security & livelihood for older adults: a multidimensional psycho-social theoretical framework for Kerala’s aging population

Author(s) Ms. Jumana S
Country India
Abstract As India undergoes a significant demographic shift, Kerala stands at the forefront with nearly 25% of its population projected to be aged 60 or older by 2036. This study, titled "Financial Security & Livelihood for Older Adults: A Multidimensional Psycho-Social Theoretical Framework for Kerala’s Aging Population," develops an integrative intervention model to address the systemic financial vulnerabilities of the elderly. Utilizing a theoretical research design and synthesizing state-level data, the study identifies a critical "care gap" and economic precarity, with an average monthly income of only INR 3,250 among the elderly, of whom only 25% report financial adequacy. The resulting framework moves beyond simple welfare to a five-pronged strategy: (1) fostering psychological capital through mastery experiences; (2) reinventing social contracts via formalized intergenerational reciprocity; (3) reforming pension structures through inflation indexing; (4) monetizing "Knowledge Capital" by linking traditional expertise to modern markets; and (5) implementing age-inclusive microfinance models. By leveraging Kerala’s decentralized governance and high literacy, the framework redefines aging from a state of dependency to one of agency and dignified inclusion, offering a scalable model for social innovation in aging societies.
Keywords Financial Security, Livelihood, Older Adults, Microfinance Model, Intergenerational Support, Age-Inclusive, Social Security System, Kerala Model.
Field Sociology > Economics
Published In Volume 8, Issue 2, March-April 2026
Published On 2026-04-16
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E-ISSN 2582-2160
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