SINGAPORE — Singaporeans born in the 1950s, dubbed the Merdeka Generation, as well as millennials agree that life is better for young people today than it was when the older group was in their youth, a new survey showed.

On the downside, young people today feel less financially secure and that they have less work-life balance than the Merdeka Generation did in their youth.

The findings of the inaugural survey, done by the Singapore National Co-operative Federation (SNCF), were released on Wednesday (Nov 20).

The survey looked at how millennials, aged 19 to 35, and those now aged 60 to 69 view various aspects of life as a young person — today versus the 1970s and 1980s when people of the Merdeka Generation were in that age bracket.

Besides financial worries, a majority of the millennials feel that they do not have enough time for family and friends compared with the older group.

KEY FINDINGS

1. Quality of life

• Millennials and the Merdeka Generation agreed that young people today have better lives.  

2. Financial security

• Fewer millennials feel that they can afford Singapore’s present cost of living than the Merdeka Generation felt about the cost of living when they were young.

• The majority of millennials have financial worries even though they are more confident of achieving financial stability and financial independence.

3. Work-life balance

• Fewer millennials feel that they are able to have a good work-life balance compared with the Merdeka Generation who felt that way when they were young.

4. Career aspirations

• Despite their worries over work-life balance, millennials are more secure over having a job and more confident of finding one that they like than the Merdeka Generation in their youth. Young people today, more than those of the older generation, have greater freedom to pursue any career they want.

5. Healthcare

• Among millennials, the perception that they can get "good healthcare" is three times better than when the Merdeka Generation were young.

6. Making an impact

• More millennials want to make a difference in society compared with the Merdeka Generation in the 1970s and 1980s

7. Family, friendship and dating

• An overwhelming majority of millennials want to spend more time with their family, markedly more than those in the Merdeka Generation who felt that way in their younger days.

• While millennials feel that they are better able to stay in touch with their friends compared with the Merdeka Generation, a somewhat smaller proportion get to meet their friends regularly.

WHAT DO THE SURVEY FINDINGS INDICATE?

• Ms Dolly Goh, chief executive officer of SNCF, said that contrary to misconceptions that young people are self-entitled, millennials are willing to make a positive impact in society. This is because they have more opportunities, having lived better lives.

• Associate Professor Tan Ern Ser from the National University of Singapore’s sociology department, said that there is a shift in values as society becomes more difficult and complex. People want to actively take part in the decision-making process that affects Singapore’s future. 

SURVEY METHODOLOGY

When was it conducted: May and June this year

Who were polled:

• 311 millennials aged between 19 and 35

• 200 individuals from the Merdeka Generation, that is, those born between 1950 and 1959, who were asked about their experiences when they were in their youth