In view of the baby boomer generation that is on the verge of retirement, and declining birthrates in developed societies, an ageing population is a problem that will continue to worsen. The elderly are growing in numbers; countries need to decide how to keep them dynamically involved in society so as to fulfill the basic promise of leaving no one behind.
For a country as small as Singapore, keeping the elderly active in society remains all the more paramount, for people remain our main resource that drives continued economic and social growth.
* Singapore has been refining its legislation so as to integrate the elderly more effectively in society as well as to enhance their financial security. * In 2005, The Tripartite Committee on Employability of Older Workers was set up to raise the skills and provide opportunities for the elderly → in response to the ageing population and especially since the elderly are now all the more necessary to alleviate the manpower shortage faced in Singapore * Job fairs offered by Silver Care Employment programme/Spcial Employment Credit → rewards employers for hiring older workers. Japan:
* By 2055, pensioners are expected to make up 50% of the population, compounding the financial deficit and the burden carried by the younger population. * Japanese are culturally more inclined to work well into their elderly years, for they have an aversion to being singled out; a health insurance scheme for over-75s, issued in 2008 was seen as a ‘hurry up and die scheme’ and was met with heavy criticisms. Japanese value independence and dignity more than anything else while Singaporeans greatly rely on the government to push out legislation and opportunities to that effect.
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