Singapore firms who don’t tap their older workers are missing out on a goldmine

SPEAKING in Parliament in February 2026, Deputy Prime Minister Gan Kim Yong delved into the implications of Singapore’s total fertility rate hitting a historic low of 0.87, down from 1.24 just 10 years before.

His message was stark: Without intervention, the citizen population could begin shrinking by the early 2040s. Even currently, more than four in five employers already report difficulty finding skilled talent, twice the proportion in 2019.

Meanwhile, Singapore is ageing rapidly. One in five citizens is already 65 or older; by 2026, 21 per cent or more will have crossed this threshold, which is a demographic marker of “super-aged” society. (*see amendment note)