Larger and cheaper labour
market available in China
Small consumer market
Defense
Fewer men for NS
Weak defense force
Open to
external threats
Ageing population
Effects
More resources needed to
take care of elderly
Healthcare: hospitals, clinics
Facilities: lifts, wheelchair ramps
Social services: homes for the aged
Strain on working
population
Nota:
Workforce has to pay increased taxes
Solutions
"Many Helping Hands" approach
Individual
Maintain healthy lifestyle
Nota:
- Watching diet and eating healthy
- Exercising regularly
Plan early for old age
Nota:
- Attend talks on financial planning
- Read up on retirement options
Family
Senior Citizens' Week
Nota:
- Held in November
- Encourages elderly to stay active in their families and communities
- Promotes a positive attitude towards ageing and the aged
Grandparents' Week
Nota:
- Held in November
- Show appreciation for the elderly
Community
Subsidies for voluntary
welfare organizations
Nota:
- Home Nursing Foundation for Elders
- Encourage community members to help look after senior citizens
Provide social and
emotional support
Nota:
- Free health checks
- Organise recreational activities
Government
Tax relief
Nota:
Tax relief can be claimed for:
- taking care of elderly family members
- contributing to CPF accounts of elderly family members
- grandparents who look after grandchildren
Tribunal for the
Maintenance of Parents
Nota:
Elderly over 60 and unable to support themselves can get help to claim financial support from their children
CPF
Nota:
- Special Account: retirement, emergency and investment
- Medisave Account: medical fees
- Retirement Account: save money for old age
Public housing schemes
Nota:
Housing grants for buying flats near to parents
Senior citizens as assets
Jobs for senior citizens
How to encourage
population growth?
Graduate Mothers Scheme
Who?
BY PM Lee Kuan Yew
FOR female graduates
When?
Started 1984
Withdrawn 1985
Unpopular among people
What?
Parents with high level of education were
thought to produce smarter children
Female graduates encouraged to have children
so new workforce will be more educated
Three or More if You can Afford it
When?
Started 1987
What?
Encourage families who can
afford it to have more children
Nota:
Prevent social problems that arise when families cannot cope financially
Increase birth rate to 2.1
How?
Allow use of Medisave to cover
delivery charges of first 3 children
Result?
Limited success
Having children in SG still too expensive
Nota:
- Hiring of foreign helpers
- Childcare / school fees
- Tuition fees
Medisave not enough as medical care is costly
SGeans prefer to spend money on
themselves rather than start a family
Birth rate fell to 1.24 in 2004
Other pro-family measures
Equalised family benefits
Nota:
Both parents can claim medical
benefits for children from their companies
Grandparent caregiver relief
Nota:
$3000 tax relief for grandparents who take care of grandchildren
5-day work week for Civil Service
Nota:
To promote work-life balance
Extended maternity leave
Nota:
From 8 to 12 weeks
Attracting foreign talent
What?
Attract foreign talent to
boost quality of workforce