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Societal Aging and its Impact on Singapore

Author

Listed:
  • Cynthia Chen
  • Julian Lim
  • Abhijit Visaria
  • Angelique Chan

Abstract

Societal aging is arguably one of our most critical demographic challenges, and Singapore is aging at a much faster rate compared to other countries. Population aging could negatively affect older adults, contribute to an increase in healthcare expenditure and increase caregivers' financial and emotional burden. This chapter provides an overview of the well-being and health and social care needs of older adults in Singapore. Formulating social and public policies that enhance the health span, extend productive life years, support caregivers, and improve community health and social care services are crucial elements to help older adults age successfully. We analyze how aging affects health, financial security, and well-being, exploring correlations between disability levels and these factors. We then discuss policies the Singapore government has implemented or will implement to help older adults age successfully. Lastly, we provide an overview of formal and informal care provided in Singapore, including assessing the overall cost of LTC in Singapore.

Suggested Citation

  • Cynthia Chen & Julian Lim & Abhijit Visaria & Angelique Chan, 2023. "Societal Aging and its Impact on Singapore," NBER Working Papers 31958, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:31958
    Note: AG
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    JEL classification:

    • I1 - Health, Education, and Welfare - - Health

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