Future cohorts of seniors will have more resources to retire on

Improvements in education, incomes will make this possible despite the ageing population and smaller family sizes: Govt

About four in five of the elderly relied on adult children as their income source as of 2011, a dependence that may be increasingly unsustainable given demographic trends. PHOTO: ST FILE
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A major source of financial support for retiring Singaporeans - their family members - is coming under strain, due to the ageing population and smaller family sizes, says the Government.

That notwithstanding, future cohorts of seniors will still have more resources to retire on due to improvements in education and incomes over the years.

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A version of this article appeared in the print edition of The Straits Times on July 08, 2019, with the headline Future cohorts of seniors will have more resources to retire on. Subscribe