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What to do with an aging society . What does an aging society ultimately mean?

It wasn’t too long ago, according to the UN report World Population to 2300, it was the 1950s in fact, when the average age of a person in Singapore was 20 years.

You can imagine what it must have been to be elderly back then. On the one hand, you would be one of the few people living over the age of 65 so you would be very well respected, so greatly honored. On the other hand, without advances in health and technology and with minimal social welfare policies and less affluence, old age must have been a double-edge sword! Rotting teeth, aching backs, foot disorders, disability, dependency, poverty.

While Singapore may fare better than its counterparts in avoidance and preparation, it still will be near impossible to escape the negative economic impact of an aging population.

Singapore currently has a population of 300,000 Singaporeans aged over 65 (9% of Singaporean population); by 2030 this figure is estimated to be three times more (900,000).