Start building infrastructure for eldercare

I agree with Mr Edmund Khoo Kim Hock on medical companies' initial public offerings' impact on costs and future pricing of healthcare ("Fears over medical IPOs' impact on costs are real"; Nov 22).

By 2030, one in four people in Singapore will be aged 65 and above ("Growing old: Should you be worried?"; Nov 6). With such a rapidly ageing population, our nation is left with about a decade for the actual construction and completion of more hospitals, nursing homes, rehabilitation centres, retirement homes and specialised centres for geriatric care.

Most retirees and those planning for retirement are currently unsure if their retirement funds will be sufficient to pay for their future healthcare needs.

We should allocate more economic resources to start building the needed infrastructure to provide security and comfort for the ageing population.

Singaporean families are getting smaller and if we take into consideration the low replacement rate and the aging population, these factors will also create an enormous social drag on the younger generation.

The young will be torn between helping to look after the elderly or pursuing their careers locally or abroad, or relocating to wherever the employment opportunities are.

Sum Kam Weng