Elderly population as share of resident population Singapore 1970-2019
In 2019, residents aged 65 years and above made up 14.4 percent of the total resident population in Singapore. Singapore is currently one of the most rapidly ageing societies in Asia, along with Japan.
The elderly in Singapore
Improvements in healthcare and the standard of living over the years have contributed to an increase in life expectancy in Singapore. This was reflected in the decreasing death rate of elderly residents over the decades. The increase in the share of the elderly population was further compounded by a decreasing total fertility rate, which was at 1.14 in 2019, well below 2.1 needed for a balanced population. By 2050, the elderly population in Singapore was forecasted to be a third of its total population.
Economic burden of an aging society
Singapore thus faces significant economic challenges due to an increasingly elderly population. The number of elderly dependents to the working age population had been steadily increasing. As Singaporeans face the prospect of living longer, more and more elderly had chosen to return to work after retirement. Singapore society still places the responsibility of caring for the elderly on younger family members. However, the burden of care is expected to increase with the years, and whether this model is sustainable remains to be seen.
The elderly in Singapore
Improvements in healthcare and the standard of living over the years have contributed to an increase in life expectancy in Singapore. This was reflected in the decreasing death rate of elderly residents over the decades. The increase in the share of the elderly population was further compounded by a decreasing total fertility rate, which was at 1.14 in 2019, well below 2.1 needed for a balanced population. By 2050, the elderly population in Singapore was forecasted to be a third of its total population.
Economic burden of an aging society
Singapore thus faces significant economic challenges due to an increasingly elderly population. The number of elderly dependents to the working age population had been steadily increasing. As Singaporeans face the prospect of living longer, more and more elderly had chosen to return to work after retirement. Singapore society still places the responsibility of caring for the elderly on younger family members. However, the burden of care is expected to increase with the years, and whether this model is sustainable remains to be seen.
