BY 2030, one in four people living in Singapore will be aged 65 and up. 

Coupled with the nation’s declining birth rate – it hit an all-time low of 1.05 last year – it is projected that by 2030, each person aged 65 and up will be supported by just two-and-a-half working-age residents. Just three years ago, this ratio stood at 4.3.  

This demographic shift has profound implications on our economy, healthcare system and retirement adequacy. In preparation for this “silver tsunami”, a slew of measures and policies have been introduced, the most recent being the retirement needs support given to Singaporeans aged 50 and up through the Majulah Package.