1. Done By: Kerry Cao Caleb Foo Lim Zhong Hui Wong Qin Jiang

2. Introduction Singaporeans aged 60 years and older are expected to rise by ~250% Singapore would soon have an aging population

3. Potential Problems Increase in responsibility Lack of Working Class members to support the elderly Less money spent for other things Made worse by reduction in collected taxes Overall increase of government annual spending on elderly- related policies Increase in taxes Dissatisfaction Overall decrease of government revenue from taxes

4. Actions taken Committee on Ageing Issues (CAI) Propose policy recommendations for an ageing population Meet emerging needs of an ageing population Central Provident Fund (CPF) Helps build up assets and savings in preparation for old age Provides a steady stream of income for life, starting at 65. MediSave, MediShield, Medifund Supplements CPF Protection for illnesses and pay for medical expenses

5. Actions taken ElderShield Provides basic financial protection to elderly who need long term care Provides a monthly cash payout to help pay the out-of- pocket expenses The Child Birth Policies Very successful

6. Implementation Allows older persons to live as part of the family and community Comprehensive range of housing options Good support care services Elder-Friendly Housing Housing: upgrading of lifts Transportation: wheelchair-accessible or installation of lifts Safe and unhindered travel passage Barrier-Free Society

7. Implementation Quality of life is maintained Vibrant private sector: services catering to different needs of the seniors Dynamic people sector: eldercare services within community Holistic Affordable Healthcare and Eldercare Strong relationships within their families Friends from different community groups and activities Active Lifestyles And Well-Being Government- Subsidised Positive towards ageing seniors

8. Implementation Official retirement age is 62 Singapore Government is legislating to: require employers to offer re-employment to workers for until 65 not necessarily the same job or pay Retrain older workers and upgrade their skills >50 pay years old = lower CPF contribution rates Workfare Income Supplement Working

9. Evaluation Good governance Protection and subsidies for the elderly Measures taken are somewhat effective does not actually solve the root of the problem Help to clear some problems Policy making Careful foresight and future-planning for its people display good response to Singapore's situation and its people's welfare

10. End