Fast-ageing Singapore, fewer to support aged; Trend worries experts
Experts fear this will exert pressure on economy, society and governance
Singaporeans are living longer and not having enough babies to replace themselves, meaning the swiftly ageing population has fewer working citizens supporting the growing pool of elderly.
These worrying trends, which emerged from the latest population figures released yesterday, can exert significant pressure on Singapore's economy, society and governance in future, said experts. They added that those working may have to toil longer and pay more taxes, and the Government will need to invest more in elder-friendly facilities.
These will be in demand by a growing number of Singaporeans, with those aged 65 and above forming 11.7 per cent of the citizen population this year, up from 7.8 per cent in 2002.
This year's Population in Brief report also showed that the old-age support ratio - which is the number of citizens in the working age band of 20 to 64 needed to support one older citizen - is decreasing rapidly.