Preparing for an ageing population

20,966 views

Published on

Published in: News & Politics, Technology
1 Comment
10 Likes
Statistics
Notes
No Downloads
Views
Total views
20,966
On SlideShare
0
From Embeds
0
Number of Embeds
27
Actions
Shares
0
Downloads
370
Comments
1
Likes
10
Embeds 0
No embeds

No notes for slide

Preparing for an ageing population

  1. 1. Preparing for An Ageing Population<br />
  2. 2. Reasons for ageing population<br /><ul><li>Post-war baby boom
  3. 3. Declining birth rate
  4. 4. Longer lifespans</li></ul>Reasons for decline in birth rate:<br /><ul><li>Success of govt policies
  5. 5. Social factors
  6. 6. Economic factors</li></ul>Impact of ageing population:<br /><ul><li>Strain on working population
  7. 7. Reduction in competitiveness
  8. 8. Increased demand for healthcare </li></ul> & social services<br /><ul><li>Smaller security forces</li></ul>Impact of decline in birth rate<br /><ul><li>Unattractive to MNCs
  9. 9. Defence
  10. 10. Ageing population</li></li></ul><li><ul><li>A country is said to have an ageing population when more than 14% of its population is aged 65 years and above.
  11. 11. In Singapore’s case, by 2030, this figure is estimated to reach 796,000 or 18.9% of total population = ageing population.</li></li></ul><li>Reasons for Ageing Population<br />1) Post-war baby boom: these Singaporeans will be 65 and above by 2030<br />
  12. 12. Reasons for Ageing Population<br />2) Declining birth rates: <br /><ul><li>Proportion of young people is shrinking, while proportion of senior citizens is increasing</li></li></ul><li>Reasons for Ageing Population<br />3) Singaporeans are living longer than before<br /><ul><li>Improved health and nutrition</li></li></ul><li>How will this affect Singapore?<br />
  13. 13. Reasons for ageing population<br /><ul><li>Post-war baby boom
  14. 14. Declining birth rate
  15. 15. Longer lifespans</li></ul>Reasons for decline in population:<br /><ul><li>Success of govt policies
  16. 16. Social factors
  17. 17. Economic factors</li></ul>Impact of ageing population:<br /><ul><li>Strain on working population
  18. 18. Reduction in competitiveness
  19. 19. Increased demand for healthcare </li></ul> & social services<br /><ul><li>Smaller security forces</li></ul>Impact of decline in population:<br /><ul><li>Unattractive to MNCs
  20. 20. Defence
  21. 21. Ageing population</li></li></ul><li>How will an ageing population affect Singapore?<br />Demand for more healthcare and social services<br />Smaller security forces<br />Reduction in competitiveness<br />Strain on working population<br />
  22. 22. How will an ageing population affect Singapore?<br />Demand for more healthcare and social services<br /><ul><li>More prone to age-related illnesses
  23. 23. need more healthcare services
  24. 24. Fewer children to depend on to take care of needs and expenses</li></li></ul><li>How will an ageing population affect Singapore?<br />Demand for more healthcare and social services<br /><ul><li>More money spent on building elderly-friendly facilities</li></li></ul><li>Studio Apartments<br />Lift Upgrading<br />
  25. 25. How will an ageing population affect Singapore?<br />Demand for more healthcare and social services<br /><ul><li>Increase in demand for community-based services (day care, nursing, befriender service)
  26. 26. Demand for trained welfare staff</li></ul>More resources spent on meeting these needs, less funds for development of the nation<br />
  27. 27. How will an ageing population affect Singapore?<br />Smaller security forces<br /><ul><li>Fewer babies  fewer men to serve in the army
  28. 28. Weakens the strength of our defence and makes us more vulnerable</li></li></ul><li>How will an ageing population affect Singapore?<br />Strain on working population<br /><ul><li>Government gets revenue from taxes paid by working population
  29. 29. Fewer babies born  smaller working population</li></ul>For example, the number of working people supporting one senior citizen will drop from 9.8 in 2000 to 3.5 in 2030.<br />
  30. 30. How will an ageing population affect Singapore?<br />Strain on working population<br /><ul><li>Government gets revenue from taxes paid by working population
  31. 31. Fewer babies born  smaller working population</li></ul>Each working person has to pay more taxes to provide what the senior citizens need  Great financial burden<br />
  32. 32. How will an ageing population affect Singapore?<br />Reduction in competitiveness<br /><ul><li>Increase taxation will increase the financial burden of the working people
  33. 33. Some choose to migrate
  34. 34. Reduce the size of Singapore’s workforce
  35. 35. Ageing workforce</li></ul>How does it affect our economy?<br />Labour shortage & Lower productivity  less competitive workforce & attractive to foreign companies<br />
  36. 36. Reasons for ageing population<br /><ul><li>Post-war baby boom
  37. 37. Declining birth rate
  38. 38. Longer lifespans</li></ul>Reasons for decline in population:<br /><ul><li>Success of govt policies
  39. 39. Social factors
  40. 40. Economic factors</li></ul>Impact of ageing population:<br /><ul><li>Strain on working population
  41. 41. Reduction in competitiveness
  42. 42. Increased demand for healthcare </li></ul> & social services<br /><ul><li>Smaller security forces</li></ul>Impact of decline in population:<br /><ul><li>Unattractive to MNCs
  43. 43. Defence
  44. 44. Ageing population</li></li></ul><li>Meeting the Challenges of an Ageing Population<br /><ul><li>Senior citizens as assets to the society
  45. 45. “Many Helping Hands” approach
  46. 46. Individual responsibility
  47. 47. Family support
  48. 48. Community help
  49. 49. Government support</li></li></ul><li>Senior Citizens as Assets to the Society<br />
  50. 50. <ul><li>Reemployment Act (effective 2012)
  51. 51. Reemploy workers beyond age of 62
  52. 52. Official retirement age raised to 65
  53. 53. MOM actively preparing companies for this shfit</li></li></ul><li>
  54. 54. Source G: A cartoonist’s illustration, titled “No retirement age in Singapore”, 28 July 2010.<br />What is the author trying to say through this cartoon?<br />
  55. 55. Senior Citizens as Assets to the Society<br />Ensure they remain contributing members of the society<br /><ul><li>Have valuable skills, knowledge, talent and working experience
  56. 56. Add value to public and private organizations
  57. 57. Boost family life</li></li></ul><li>Individual <br />Responsibility<br />Community <br />Help<br />Many Helping Hands <br />Approach<br />Government <br />Support<br />Family <br />Support<br />
  58. 58. Many Helping Hands Approach<br /><ul><li>Everyone has a part to play in helping the nation prepare for an ageing population
  59. 59. Shared responsibility  government’s burden is eased
  60. 60. Resources saved can be used to meet other needs</li></li></ul><li>Many Helping Hands Approach: Individual Responsibility<br />Healthy lifestyle<br />Financial planning<br />
  61. 61. Many Helping Hands Approach: Individual Responsibility<br />Healthy lifestyle<br /><ul><li>Watching diet
  62. 62. Exercise regularly</li></li></ul><li>Many Helping Hands Approach: Individual Responsibility<br />Financial planning<br /><ul><li>Plan early and be financially prepared (retirement planning)</li></li></ul><li>Many Helping Hands Approach: Family support<br /><ul><li>Promote strong and stable families
  63. 63. Provide emotional and financial support</li></li></ul><li>Many Helping Hands Approach: Family support (examples)<br /><ul><li>Senior Citizens’ Week
  64. 64. Encourages elderly to stay active in family and community
  65. 65. Promotes positive attitude towards ageing and aged
  66. 66. Grandparents’ Day
  67. 67. Bring families together to show appreciation for elderly</li></li></ul><li>Many Helping Hands Approach: Community help<br /><ul><li>Provide social and emotional support
  68. 68. Provide healthcare and social services
  69. 69. Encourage them to remain physically, mentally and socially active
  70. 70. Govt provides subsidies to VWO to run community-based services
  71. 71. Free health checks
  72. 72. Recreational activities</li></li></ul><li>Many Helping Hands Approach: Community help<br /><ul><li>E.g. Home Nursing Foundation for Elders
  73. 73. Involves members of the community (students, housewives, retirees etc)</li></li></ul><li>Many Helping Hands Approach: Government Support<br />Tribunal for the Maintenance of Parents<br />Tax relief<br />Central Provident Fund<br />(CPF)<br />Public Housing Schemes<br />
  74. 74. Many Helping Hands Approach: Government support<br />Tribunal for the Maintenance of Parents<br /><ul><li>Parents can get the court’s help to seek financial support from children who are capable, but not supporting them
  75. 75. Parents must be incapable of supporting themselves, and over 60 years old</li></li></ul><li>Many Helping Hands Approach: Government support<br />Tax Relief<br /><ul><li>Taking care of elderly parents, grandparents
  76. 76. Contributing to these dependents’ CPF retirement schemes
  77. 77. Grandparents taking care of grandchildren while parents work</li></li></ul><li>Many Helping Hands Approach: Government support<br />Central Provident Fund<br /><ul><li>Special Acct: Retirement, emergency & investment
  78. 78. MedisaveAcct: medical expenses
  79. 79. Retirement Acct (at age 55)
  80. 80. 55 yrs: can withdraw savings
  81. 81. 62 yrs: receive monthly sum from retirement accnt</li></ul>They will then have enough money for medical and daily expenses & be self-reliant<br />
  82. 82. Source G<br />Study Source G.<br />What does Source Q tell you about the impact of the CPF scheme on the lives of the elderly in Singapore?<br />
  83. 83. Many Helping Hands Approach: Government support<br />Public Housing Schemes<br /><ul><li>First-time buyers of government flats can get housing grant if they buy a flat in the area where their parents live</li></li></ul><li>Reasons for ageing population<br /><ul><li>Post-war baby boom
  84. 84. Declining birth rate
  85. 85. Longer lifespans</li></ul>Reasons for decline in birth rate:<br /><ul><li>Success of govt policies
  86. 86. Social factors
  87. 87. Economic factors</li></ul>Impact of ageing population:<br /><ul><li>Strain on working population
  88. 88. Reduction in competitiveness
  89. 89. Increased demand for healthcare </li></ul> & social services<br /><ul><li>Smaller security forces</li></ul>Impact of decline in birth rate<br /><ul><li>Unattractive to MNCs
  90. 90. Defence
  91. 91. Ageing population</li>

×