In a commentary, SMU Associate Director Jiaming Ju from the Centre for Research on the Economics of Ageing (CREA) noted that while the elderly are often seen as a burden, statistics show that today’s seniors are healthier and will stay in the workforce longer. She therefore urged for fresh policies for the future.

The findings by the ongoing Singapore Life Panel, the world’s largest high-frequency longitudinal study on the ageing population, conducted by CREA, indicated that half of men and a third of women are still working full-time at 62 and another quarter are in part-time, flexible work or self-employment. More than 60 per cent of 62-year-olds are still self-reliant and actively contributing to society, with 40 per cent of Singaporeans still free of any chronic health condition and 94 per cent are free of any difficulty with daily living activities. CREA has found that incoming generations expect to continue working later in life. According to Ms Ju, there is a need for careful calculation and mapping of long-term healthcare financing and the need to examine the potential pressure on the fiscal health of a country.