Reasons for promoting population growth in the 1980s. Ageing population

Similar documents
HEALTH, WEALTH & RELATIONSHIPS SPOTLIGHT ON OLDER WOMEN PROF RHEMA VAITHIANATHAN - CREA

Benefits for Singapore Citizens & Permanent Residents Education Subsidies & Scheme

Issues linked to Settlement and population. The UK s ageing population; a contemporary geographical issue

Chapter 2: Twenty years of economy and society: Italy between the 1992 crisis and the current difficult economic situation

Aging in Singapore: Demographic transition and policy response

"Opportunities and Challenges of Demographic Change in Europe"

Health and Labor Force Participation among Older Singaporeans

Hong Kong Women Professionals & Entrepreneurs Association (HKWPEA) Public Affairs Committee

AFFORDABLE CARE ACT. And the Aging Population Jan Figart, MS & Laura Ross-White, MSW. A Sign of the Times: Health Trends and Ethics

Retirement and Social Security

Benefits offerings for a multigenerational workforce

Financial pressures to snowball for New Centenarians generation

Quality of Life and Inclusive Growth: The Case of Singapore. Assoc Prof Hui Weng Tat Lee Kuan Yew School of Public Policy 16 August 2010

Insights from Asian Indian Families Executive Summary

Increasing the Employment of Women through Flexible Work Arrangements

The benefits of an ageing population

FROM HIRING TO FIRING

Birth Age

LONG TERM CARE INSURANCE

14. Singapore s Social Safety Net and Human Service Provisions

Farmers Health Insurance

WORK-LIFE-BALANCE ECONOMY TUULI SALONEN, SOCIAL POLICY SPECIALIST

Answering Higher essay questions (paper 1)

Canada Report. The Future of Retirement Healthy new beginnings

I Overview of the System and the Basic Statistics [1] General Welfare and Labour

27. Retirement 2: Understanding Social Security

Voters Views on Paid Family + Medical Leave

HOTREC position on a Directive on Work-Life Balance

50+ in Europe Summary of initial results

Understanding The Benefits

STATUS OF OLDER WOMEN IN SINGAPORE A REPORT BY THE TSAO FOUNDATION AND WINGS FOR THE 68 TH SESSION OF THE UNITED NATIONS (UN) COMMITTEE ON CEDAW

STATUS OF OLDER WOMEN IN SINGAPORE A REPORT BY THE TSAO FOUNDATION AND WINGS FOR THE 68 TH SESSION OF THE UNITED NATIONS (UN) COMMITTEE ON CEDAW

REAL PLANS FOR REAL PEOPLE BLUEPRINT FOR THE MIDDLE CLASS

Pension / Welfare. Chapter 7

GREECE Overview of the system

Social Security Programs Throughout the World: The Americas, 2007

Social Security and Medicare: A Survey of Benefits

I3: The Emergence of Healthcare as a Global Issue

Health Care Reform: Chapter Three. The U.S. Senate and America s Healthy Future Act

Life and protection insurance explained

Supporting Older People Labour s plan for an age-friendly society

December Perkins Staff Section

Is your pension tax efficient?

A3.01: INCOME TAX AND NI

They grew up in a booming economy. They were offered unprecedented

Legal & General Critical Illness Cover

NY Laws and Maternal Health: Your Role in Implementing the NY Paid Family Leave Act Barbara A. Dennison, M.D.

kaiser medicaid commission on and the uninsured How Will Health Reform Impact Young Adults? By Karyn Schwartz and Tanya Schwartz Executive Summary

Health Care Reform Information for Employees. Your options under health care reform

The Report of Transnational Survey Concerning on Expectations and Visions of Elderly Care Among People Ranging in Age from 50 to 59 Years

Aldridge Financial Consultants January 12, 2013

State of the Elderly in Singapore

CHAPTER 4. OLD-AGE PENSIONS

Coping with Population Aging In China

IOPS Member country or territory pension system profile: ALBANIA

STUDY OF HEALTH, RETIREMENT AND AGING

Fig. 1 Forms of employment desired by casual employees

Overview of Life Insurance Industry in Japan

Work-Family Balance. overview of policies in Asia

Age, Demographics and Employment

What does it mean to you?

A flexible benefit plan that offers exclusive advantages to your key executives.

BRIDGING THE PROTECTION GAP IN SINGAPORE FAQs for public Protection Gap Study 2017

2014 budget summary. Introduction 2 Superannuation 2

Financial Perspectives on Aging and Retirement Across the Generations

MONEY MATTERS CASE STUDIES

Your Guide to Life Insurance

Life insurance. Serious and critical illness insurance

Pension Reform in Japan at the Turn of the Century. Noriyuki Takayama 1. Changes in the social security pension system have thus far been made

TALKING POINTS ISSUES RELATING TO STATUS, FINANCIAL PERFORMANCE AND OTHER CORPORATE ISSUES

Child Care Expenses Deduction for 2017

Information About Child Care Expenses

CHAPTER.5 PENSION, SOCIAL SECURITY SCHEMES AND THE ELDERLY

Toward Active Participation of Women as the Core of Growth Strategies. From the White Paper on Gender Equality Summary

Critical Illness Cover

Policy Reponses to Low Fertility and Population Aging in Korea

The importance of renewal, Peter Wrede

Explaining your pension. Harmsworth Pension Scheme

Explanation of MHLW Karuta

PART FOUR OTHER BENEFITS

Proposal for a DECISION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL. on the European Year for Active Ageing (2012) (text with EEA relevance)

Pension Choice? Career and retirement options for the NHS

Protecting your family, your assets and yourself with long-term care planning

Changes in the Japanese Pension System

Social security. in the BRICS

Florida Demographic In-Depth Analysis

CZECH REPUBLIC Overview of the system

Recent development of the Bulgarian pension system

INEQUALITIES IN ACCESS TO PAID MATERNITY & PATERNITY LEAVE & FLEXIBLE WORK

SAGA. GUIDE TO PENSION REFORM By Paul Lewis MAGAZINE AUGUST 2006 SAGA 1

Summary An issue in the development of the new health care reform plan is the effect on small business. One concern is the effect of a pay or play man

You are 24 years old and divorced

Social insurance. All you need to know about social security/

Individual Health Insurance Marketplace FAQs Purdue Pre-65 Retiree

Fieldwork: September 2008 Publication: October 2008

Pension Reform in Germany

English summary. 1 Social protection in Finland and the role of the Social Insurance Institu tion (Kela)

The Aging Economy. Canadians are living longer. The greying of the Canadian population. Improving with Age

for Kiplinger s Personal Finance readers Asked Questions about Long-Term Care Planning The time to prepare is now

Dependent Care Flexible Spending Account Frequently Asked Questions

Transcription:

Reasons for promoting population growth in the 1980s Ageing population fewer babies born fewer young people in the populationnumber of older people would become proportionately larger ageing population more resources would have to be used to take care of the increasing number of senior citizens each young people would have to bear a greater share of responsibility to take care of the elderly With population growth, there will be more young people to work to provide the resources required by the increasing number of citizens. reduce the average burden for the young people to care for the elderly. Lack of attractiveness to multinational companies lower birth rate = smaller population smaller talent pool multinational corporations (MNCs) find it difficult & more expensive to recruit Singaporeans compared to the huge labour markets in countries such as China smaller consumers market = Singapore less attractive as multinational companies find it more difficult to sell their goods in Singapore. Must ensure Singapore has sufficient manpower and talent to meet the needs of the MNCs attract more MNCs to operate in Singapore and help Singapore s development. Need for defence manpower Declining birth rate = fewer men to recruit for National services would weaken Singapore s defence, as manpower is needed for our defence force and to operate military equipment more difficult to defend Singapore if other countries are attacking it makes Singapore unsafe have a negative impact on Singapore s development This ensures that there would be more men to recruit for National Service make Singapore secure and facilitate Singapore s development. Declining birth rate from the 1980s 1980s, fertility rate = 1.82 children per women number of babies born fell below the replacement value (due to the success of the family planning policy in reducing the birth rate) Increased cost of living + late marriages also contributed to the declining birth rate However, at the same period, more jobs were created and larger workforce was present Manpower needed for national defence.

Ensure that Singapore has sufficient people to meet the growing manpower needs for our industries and defence necessary to maintain Singapore s growth and security. Strategies to promote population in the 1980s Three or more if you can afford it campaign Introduced in 1987 aimed at encouraging parents to have three or more children if they could afford it government helps relief the financial burden of having more children: - allowing the use of Medisave to pay for the delivery charges of the first three children lowered cost of having children encourage more financiallyabled parents to have three or more children. promoted this scheme through the use of posters and advertisements government hopes that parents are more convinced of having bigger families Graduate Mother Scheme In the 1980s, more graduates were marrying later and bearing fewer children. Based on research, it was felt that the education level of parents had a direct impact on the performance of their children in school. 1984, the Graduate Mother Scheme was introduced To encourage graduates to have more children: - priority in primary school registration is given to children from families where the mother has an acceptable university degree or approved professional qualifications. - enhanced child relief for better-educated women for up to three children. measures were meant to make it easier for graduate parents to raise children However, this scheme sparked off debate and unhappiness among Singaporeans. The less-educated felt that the policy neglected them. Pro-family measures equalised medical benefits = both parents are entitled to make medical claims for their children from their employers - Previously, only the father can make such claims. maternity leaves are also extended from 12 weeks to 16 weeks to allow mother additional time to rest and to take care of their children introduces the 5-days work week for civil servants to have better work life balance Will lessen the burden of having more children, by ensuring that Singaporeans have more time and resources to raise their children encourage Singaporeans to bear more children.

Attracting foreign talent government relaxed its immigration policy to attract foreign talent with skills that Singapore required. - Easier entry into Singapore - subsidized housing - attractive educations package for children were offered to foreign talent who were willing to work in Singapore. government hopes that these individuals would develop an attachment to our country take up permanent residence or citizenships increase our population growth, especially if foreigners also give birth to the next generation boost the quality of our limited manpower + increase our population Strategies to cope with ageing population Individuals/Self-reliance encouraged to attend pre-retirement talks to learn how to plan for old age cover a few aspects of old age planning like health education and financial planning elderly are also encouraged to have regular medical check-up for detection of diseases like high blood pressure, diabetes, hypertension and heart diseases. elderly are also encouraged to lead an active and healthy lifestyle by incorporating physical activities into their daily lives and learning how to read food labels to select healthier food help the aged maintain good health reduce the need for medical treatment individuals can save on medical expenses reduce their dependency on the government and the younger generation Government support CPF central provident fund (CPF) = compulsory savings scheme for all employees compulsory that all employees contribute about 20% of their income into the CPF every month + employers will have to also contribute between 10 to 20% of the employee s income into the CPF account. The CPF saving in the special account are set aside for retirement and emergency purposes workers also contribute 6 to 8% of their salary into Medisave account whereby this money can be used for medical expenses This scheme forces people to start saving for their old age once they start working and since CPF members can only withdraw their savings when they are 55 years old

ensures that most if the ageing population have a substantial sum of money to depend on when they retire reduce the dependency on the government for funds lessen the burden on the younger generations RETIREMENT SAVINGS FROM CPF compulsory that all CPF members leave a minimum sum in the retirement account retirees will get a monthly sum from this account from age 62 onwards ensures that all retirees still keep a sum of money for future use after they have retired and that they still have a sum of money every month to support themselves cope with the ageing population by making sure that the old have some money to support themselves after retirement PARENTS RIGHT TO SEEK FINANCIAL SUPPORT FROM CHILDREN introduced tribunal for the maintenance of parents Parents who are incapable of supporting themselves can get the court s help to seek financial support from children who are capable of supporting them serves as a body to help the aged ask for help if they are incapable of supporting themselves and this also makes the children responsible for taking care of the old TAX RELIEF FOR COUPLES CARING FOR PARENTS Taxpayers can claim an income deduction for taking care of the elderly parents, grandparent and great grandparent can claim an income tax deduction if they contribute to their own or their elderly dependent s CPF accounts Children staying with their parent can claim up to $5000 of income tax reduction encourage children to stay with their parents and take care of the elderly members in the family and such tax relief also helps lessen the financial burden of the younger generations, thus helping to cope with the ageing populations.

FINANCIAL INCENTIVE FOR STAYING NEAR PARENTS First time buyers of government flats can get a housing grant of $40 000 if they buy a flat in the area where their parents live. aims to encourage children to stay near their parents so that they can visit their parents more frequently and also facilitate taking care of their parents Family Support show care and concern for the elderly must understand the physical and emotional change that occurs when a person grows old and be patient with the elderly can make the elderly feel wanted by giving them a part to play in the family like asking them for their opinions and asking for assistance in taking care of their children ensuring that their houses is safe for senior citizens like putting support hand bars in toilets can spend more time with the elderly and by strengthening family bonds and meeting the physical and emotional needs of these elderly, families can play a part in ensuring that elderly are well taken-care of reducing the dependence in the government Community help Voluntary welfare organizations run community-based services for senior citizens Example- home nursing foundation for elderly. - involves members of the community such as housewives, students and retirees to help look after the need of the senior citizens. offer free health check and organize recreational activities for senior citizens elderly would be encouraged to check their health to prevent serious disease from affecting their health Prevention is better than cure reduce the number of elderly be afflicted with serious illness requiring huge medical expenses. Recreational activities also help senior citizens to be physically, mentally and socially active happier and healthier reducing the burden of taking care of physical and emotional problem