Care Burden Gap: 60% Of Malaysian Women Say Dual Caregiving Is Taking A Toll On Careers And Self-Care, Says Sun Life Survey

  Women in Malaysia are increasingly managing household finances, but many say the growing responsibility of caring for children and ageing parents is coming at a personal and professional cost. New survey from Sun Life titled ‘Women’s Wealth in Focus’ found that over 60% of Malaysian women say dual caregiving responsibilities impact both their careers and their ability to prioritise self-care, highlighting a ‘triple penalty’ that can undermine long-term financial security and wellbeing.

 

Nearly three‑quarters (80%) of women surveyed across Malaysia say caregiving responsibilities are a barrier to improving financial security. The impact extends beyond finances: 68% say care duties limit self‑care, while 66% cite impacts on career progression, creating a ‘triple penalty’ with near- and long-term impacts.

 

Caregiving pressures are forcing many women to tighten budgets and deprioritise their own needs. The most common sacrifices include cutting leisure and travel spending (76%), delaying retirement savings (34%), and limiting investment opportunities (33%).

 

Intergenerational expectations are also sharpening the long‑term challenge. About nine in 10 expect to support their parents’ elderly care, 19% say they saving at least 10% of their income to prepare for this potential eventuality. These findings highlight the urgent need for stronger support systems and financial planning solutions.

 

Irina Lim, Chief Operating Officer of Sun Life Malaysia, said, “Our survey shows many Malaysian women are carrying a double caregiving load while also managing household finances. That pressure can set back their health, careers and long-term financial security. At Sun Life Malaysia, we want to make it easier for women and families to plan ahead – with the right protection, practical guidance and support to stay resilient today and build a more secure future.”

 

Women lead household finances while balancing caregiving responsibilities

 

Across Malaysia, many women are budgeting, planning, and making critical financial decisions for family, often while carrying the bulk of caregiving responsibilities. Half (44%) assume sole responsibility for managing daily expenses, while four in 10 (42%) take sole charge of long-term investments and finances. Even when decisions are shared, six in 10 (52%) report they have final authority, rising to 83% among female breadwinners.

 

For many women, managing family finances is deeply connected to ensuring their families’ wellbeing. Six in 10 (59%) of women cite strong responsibility toward family members, and 44% are willing to sacrifice their own financial security to protect their family’s welfare. This commitment also influences their financial priorities: married women report greater concern than their spouses about saving and investing (69%) and leaving an inheritance (50%).

 

Health costs continue to hurt financial security

 

Healthcare costs remain a significant barrier to women’s financial security. Six in 10 respondents cite high healthcare costs among their top three obstacles, making it the most frequently cited challenge for the second year in a row.

 

The financial impact is compounded by caregiving responsibilities, which often create hidden health risks. 62% in 10 women have foregone medical treatment to prioritise support for children or elderly relatives, taking on greater personal risk to put their families first.

 

Financial progress is visible, but risk persists

 

Women today are more financially secure than their mothers, reflecting strong generational progress and greater economic participation. 59% say they are better off financially than their mothers were at the same age.

 

Yet preparedness for financial shocks remains limited. Only 10% feel very prepared for an unexpected financial event, while nearly nine in 10 (89%) married women say their families would be financially impacted if their spouse were unable to work due to medical reasons.

 

Day-to-day management is strong, with 79% of respondents paying bills on time, but longer-term planning is less consistent. Just 25% regularly review insurance coverage, and only 13% seek professional advice before making financial decisions, pointing to an ongoing support gap.

 

Engagement with professional advice remains limited

 

Despite carrying high levels of financial responsibility, few women access professional advice. Only 8% of women surveyed currently work with a financial advisor, though mothers are more likely to have sought advice (28%) compared to women without children (21%).

 

Perceptions of the industry remain a barrier to seeking advice: seven in 10 women (72%) believe the sector is male-dominated, and one in three (34%) who don’t have access to advice, or have not yet sought it, say this deters them from seeking help. Yet demand is clear – 45% of women express a preference for content focused on achieving a “worry-free retirement.”

 

The key findings for Malaysia are available here ​pdf icon Infographic_SLM Women's Wealth.pdf