Chosen aims to alleviate poverty and empower vulnerable children by giving them the power to choose

PETALING JAYA, MALAYSIA – Media OutReach – 8 July 2021 – Malaysians are invited to participate and be chosen by children from vulnerable communities starting today until 26 July 2021 in an inaugural child sponsorship campaign titled Chosen by international humanitarian organisation, World Vision Malaysia.

World Vision’s Chosen campaign empowers children to take the first step in changing their future. For the first time ever, children have the opportunity to choose their sponsor. Pictured above, children showing photos of their sponsor they chose for themselves.

World Vision Malaysia CEO Mr. Daniel Boey said Chosen is World Vision’s new invitation to child sponsorship that puts the power to choose in a child’s hands. For the first time in World Vision’s 70-year history, the child will choose their sponsor!

The campaign will kick off with a community in Cambodia where since the first case of COVID-19 was identified, children have been deprived from their childhood and live in fear for their well-being.

A monthly sponsorship of RM65 will bring clean water, nutrition, education, basic healthcare, protection and hope to the sponsored child and their community. Sponsors can foster a relationship with the child through letters and photos due to the one-donor-one-child policy.

A father of two, Mr. Boey added: “Many children wait years to be chosen by sponsors. As a father, I can’t imagine how that could feel for the child, let alone the family. When we give children the choice to choose their sponsor, we give them the opportunity to choose who they want to accompany them on their journey out of poverty. More than that, we empower them to participate in a decision that will impact their life, sending the message that we care about what they think. We hope that this will spark the power to choose what their future can be.”

He said his team at World Vision Malaysia have been monitoring and adjusting programmes to respond to the global COVID-19 situation. “Children will select their sponsors at a choosing event (with all COVID-19 safe practices in place) on 5 and 6 August, and we will reveal the matches to the sponsors in the weeks after. We thank all Malaysians ahead for joining us in protecting and empowering the world’s most vulnerable children and their communities.”

Helping one little girl with US$5 in his pocket, founder Bob Pierce started World Vision in 1950 and its Child Sponsorship Programme focuses on improving the physical, emotional, spiritual, and social well-being of the most vulnerable children. In Cambodia, World Vision has implemented relief and development programmes to benefit vulnerable children since the early 1970s.

Around the world, the program has brought so much joy and hope to families. Six-year-old Kelmer from Guatemala, chose Justin Hollander’s family to be his sponsors.

“Their daughter is very pretty. She looks like she likes to have conversations and likes to play,” he says. “The parents are very pretty. They look like they like to give hugs. And that they like to play.”

There are five people in Kelmer’s family. Mother, father, 9-year-old, 6-year-old, 8-month-old. Kelmer is in preschool. He loves to learn. When he grows up, he wants to be a teacher. His mother, Yesica, says that sometimes the children get sick, but she can’t afford to take them to the nearby centre. Yesica says that Kelmer choosing was “his decision all the way. He felt really good.” He told her that when he saw all the pictures, “I just wanted to grab that one.”

Kelmer likes to play soccer and marbles. He says, “If they (sponsors) came here, I would like to play football with them. I would like to send pretty words. I am happy for your visit. Te quiero.”

Earlier this year, some children in a local community were invited to choose their sponsors as shown in this video: https://youtu.be/a562CDbVccY.

Visit https://bit.ly/WorldVision-Chosen or email admin@worldvision.com.my to be chosen by a child and help make a difference!

#WorldVisionMalaysia

60% of Singaporeans face an uncertain future by not prioritising their retirement planning

SINGAPORE – Media OutReach – 7 July 2021 – AIA Singapore today unveiled that young families in Singapore have deprioritised planning for their retirement because they are spending at least 2.5 times more of their monthly expenses on their children’s needs rather than taking charge of their own retirement planning. Parents spend almost 20%[1] of their income on their children but less than 7% on their own retirement planning. 70% also said they intend to either maintain or increase the amount of income allocated to their children’s expenses.

The average RQ score for Singaporeans is 55%, and 40% of surveyed Singaporeans scored below 50 – an indication that retirement preparedness has room for improvement.

In two studies[2] conducted among 1,000 and more members of the general population of Singapore in January 2021 and June 2021 respectively, the leading life insurer identified three factors driving these financial priorities among young families:

• A lack of financial understanding has led to the over-reliance on bank savings. For 92% of Singaporeans, bank deposits are the most popular savings instruments, while 21% supplement their bank savings with investment tools. Nearly 1 in 3 Singaporeans’ savings was negatively impacted in 2020. Singaporeans use at least 3 tools to manage their savings, with a median amount of between S$251-S$500 set aside monthly for retirement.
• Savings priorities tend to be more short term focusing on family needs and emergency spending instead of longer term goals like retirement. In terms of savings goals, emergency spending is the top priority (64%), followed by ensuring financial security for the family (56%). Among young families with kids, 76% intend to leave an inheritance for their children, but only half have started planning for it.
• The nest egg required to maintain a desired retirement lifestyle is increasingly expanding, but most are underestimating the amount needed. Singaporeans have one of the longest life expectancies in the world at 84.8 years[3]. On average, Singaporeans plan to retire at 60 years old, which will require at least 25 years of retirement income. Close to half of respondents want to maintain their current lifestyle after retirement, but more than two-thirds (66%) underestimate the actual retirement amount needed by S$967 per month. Among families with children, the underestimated amount is slightly higher at S$1,020 per month.

As a simple rule of thumb, monthly income is recommended to be spilt using 50/30/20 rule[4]. Allocate the first 50% of one’s take-home income pay on necessities such as housing, food, and transport. The remaining half should be split up between 20% for long-term savings and investments and with 30% for “wants” like hobbies and travel. However, research shows that Singaporeans are 13% below the target for their retirement planning.

Ms. Melita Teo, Chief Customer and Digital Officer, AIA Singapore, said, “Retirement planning is an essential part of securing our longer term financial security, not just for parents, but for the entire family, so everyone can look forward to a brighter future with peace of mind.”

“We recognise this is not an easy balancing act, especially amid growing financial insecurity as a result of COVID-19. Many also fear becoming a burden on their children later on in life. As part of AIA’s brand promise of enabling Singaporeans to live healthier, longer, better lives, we want to help people better manage their financial priorities when preparing for their golden years. We are committed to continuously innovating our suite of customisable solutions with the goal of ensuring that a golden retirement is within reach for Singaporeans, no matter the circumstances,” added Ms. Teo.

From pre-pandemic to endemic COVID-19: The shortfall between expectations and reality of retirement is widening

In March 2020, the AIA Retirement Quotient (RQ) survey[5] showed that 54% of Singaporeans were 14-years short when it comes to adequately planning for their retirement, when compared to the national average life expectancy of 84.8 years old. While most Singaporeans have started planning for their retirement, 70% felt underprepared.

Today, retirement goals have taken a backseat. COVID-19 uncertainties further necessitated the shifting of savings allocation towards their children and shorter-term needs such as emergency funds instead of themselves.

No doubt a result of COVID-19 uncertainties as well as changing attitudes towards retirement, the retirement goals consumers are setting today have also become more modest. Most of these goals are still pegged almost exclusively to financial health and do not consider other aspects of wellness.

While the pandemic had accelerated the need to save more, Singaporeans’ focus, however, has been on short-term savings for their emergency and family needs, with little regard for their retirement, even though they are expecting an increase in their monthly expenditure during retirement. Their mindset still remains, which is worrying as they are still setting aside the same S$251 to S$500 median value for their retirement each month, while expecting to maintain their current lifestyle when they retire, while not forgetting the inflation rate which would affect how much your retirement dollars will really be worth in the future.

“Achieving our desired retirement is not limited to being financially prepared, Singaporeans need to look beyond just their finances if they intend to truly enjoy their golden years. To help them on this journey, besides continuing to study the gaps in Singaporean’s retirement readiness, we have also developed a tool to help Singaporeans take a more holistic approach to retirement. By considering all aspects of retirement preparedness, we are empowering our customers to let their aspirations drive the structure of their retirement plans, rather than allowing their current finances dictate their future,” added Ms. Teo.

A holistic approach to retirement preparedness

Retirement is an issue of national importance in Singapore, home to one of the most rapidly ageing populations in the world[8]. It is estimated that by 2030, one in four people will be aged over 65 years old, and by 2050, the number is expected to increase to almost one in two[9]. Despite the urgency of the situation, many of the retirement products available on the market only cater to financial and health preparedness and do not account for the emotional, mental, and social aspects of retirement.

AIA Singapore in partnership with Ipsos developed a Retirement Quotient (RQ) – an indicator to measure Singaporeans’ retirement readiness and guide them on a more holistic retirement planning journey. The RQ is made up of four distinct pillars to guide Singaporeans to achieve their golden retirement: financial preparedness, health preparedness, social support, and trust in institutions.

Financial Preparedness

Financial preparedness remains the biggest but far from the only determinant of retirement preparedness. Financial preparedness is determined by the following attributes: having in place a clear financial plan that allows one to achieve their desired retirement lifestyle, and being confident in having made sufficient financial preparations to accumulate enough wealth to account for retirement.

Social Support

While the vast majority of Singaporeans opt to confide in a partner or spouse about their plans for retirement, one in five Singaporeans do not share their retirement plans with anyone. RQ respondents who scored poorly in the social support pillar tended to receive low scores throughout. The second largest pillar of retirement preparedness, the positive impact of social support indicates that retirement is not just a personal decision and that having deeper conversations with loved ones, whether they be family, dependents, or friends, contributes significantly to retirement preparedness.

Health Preparedness

Good health alone cannot drive retirement preparedness, but it enhances individual retirement preparedness when coupled with robust financial planning. In terms of health, 59% of Singaporeans said that reducing the risk of illnesses was the primary motivator to keeping fit as opposed to enjoying their later years (41%). Of the 59%, married couples and families cited wanting to avoid financially burdening their loved ones as the reason, while others were keen to avoid depleting their nest eggs on additional healthcare costs.

Trust in Institutions

While trust comprised the smallest pillar, low scorers for this section tend to be the least prepared for retirement, are not financially-savvy, and have little access to professional advice from established financial institutions including banks and insurers.

Conclusion

While parents prioritise their children, almost 70% of young parents with children do not want to burden them and other family members and friends financially during retirement. However, the irony is that those who are facing a shortfall in their retirement planning might have to rely on their children for retirement eventually. Hence, as parents prepare their children and give them the best for their bright future, they should also consider proper retirement planning for themselves to avoid burdening their children during their golden years.

Understanding the gaps ahead of one’s golden years and having a trusted partner are crucial elements in attaining a well-rounded retirement. AIA Singapore is committed to journeying with Singaporeans to help them be financially prepared by offering a comprehensive suite of innovative products and tools, while also inspiring them to lead healthier lifestyles. AIA Singapore’s aim is to ensure everyone can have the financial freedom to live their desired retirement and be in pink of health to enjoy their golden years with their family.

For more information on AIA’s comprehensive retirement proposition, please visit: https://www.aia.com.sg/retirement

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei, Macau SAR and New Zealand, and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$326 billion as of 31 December 2020.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 38 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).

#AIA

Europe’s first self-cleaning robot mop & vacuum that washes the mopping pads automatically

BERLIN, GERMANY – Media OutReach – 7 July 2021 – yeedi, a robot vacuum brand committed to delivering intelligent floor-cleaning technology for people in pursuit of high efficiency, brings yeedi mop station to European customers. This 2-in-1 robot mop and vacuum features a revolutionary self-cleaning station to wash and damp the mopping pads automatically for a truly hands-free mopping experience. Designed with 2 spin mopping pads, rotates at 180r/min with a 10N force to the floor, customers can expect effective mopping performance.

“Enough water, sufficient pressure to the floor, and an always-clean mop are three basics to ensure an ideal mopping result. But few robot mops on the market managed to meet these 3 preconditions.” Said Gary, Li, General Manager of yeedi, “Dedicated to delivering a reliable robot mop to our customers, yeedi mop station is engineered with the basic logics of mopping making it possible for our users to experience a thorough and truly hands-free floor cleaning.”

Hands-Free Mopping with Built-In Washing Machine for the Mops

yeedi’s self-cleaning station works as a built-in washing machine for the mops. Unlike other robots on the market with mini water tank, it features separate clean and waste water tanks (3500ml each) for systematic water disposal. When the mops get dirty and dry, the robot will return to the base station for mop washing & damping and resume cleaning right where it left off. After cleaning is done, the built-in fan takes over to dry the mops in case of odor generation and mildew breeding.

Effective and Reliable Mopping Performance

yeedi mop station features an intelligent mopping system to mimic hand mopping. The 2 spin mopping pads rotating at a speed of 180r/min are pressed tightly against the floor by a 10N downward pressure. In this case, stains can be loosened and removed easily. The built-in carpet detection sensor smartly steers the robot away from carpet when mopping to avoid contaminating your carpet.

Wet and Dry Clean at the Same Time with Hybrid Design

yeedi mop station is versatile. It mops and vacuums simultaneously during cleaning. Boasting a 2500Pa strong suction power, yeedi sucks up pet hair, crumbles and dirt hidden deep in the crevices. It learns your home layout precisely and plans efficient cleaning paths with the help of the Visual Mapping technology.

Affordability

Priced at €649, yeedi mop station will be available in the beginning of August. As a launching offer, the first 300 purchases of yeedi’s subscribers can get an over €100 worth of early-bird perk.

Grab the early-bird perks here:

Germany:

https://de.yeedi.com/pages/yeedi-mop-station-landing

Other European Countries:

https://eu.yeedi.com/pages/yeedi-mop-station-landing

About yeedi

yeedi is an up-and-coming robot vacuums supplier launched in 2019. We gathered a group of robotic and housekeeping experts who are passionate about life and keen to innovations to bring quality smart products with modern design and practical features to customers all over the world.

#yeedi