AGEING POPULATION IN SINGAPORE

Why is an ageing population detrimental?

• Demand for more healthcare & social services• Gov has to spend more money to look after the elderly• Build more hospitals, give more subsidies for healthcare bills, hire

more people to work in nursing homes

• Reduction in competitiveness• Less younger people in the workforce, not attractive to companies

as older workers cost more

• Strain on working population• Workforce pays more taxes to support the elderly’s needs

• Smaller security forces• Less suitable people to defend the nation as older people aren’t as

fit as younger ones

How does the government cope?

• Senior citizens as assets to society• ‘Many Helping Hands’ approach

• Individual• Healthy lifestyle• Financial planning

• Family• Community• Government

• Tax relief• Public housing scheme• CPF• Tribunal for Maintenance of Parents

Why ‘Many Helping Hands Approach’?

• Sharing responsibility of taking care of the elderly• Reduce government’s burden less taxes• Resources can be used for other areas