A “silver tsunami” lies in Singapore’s future, as almost a third the people in the city-state will be over 65 years old in a few decades.
According to a report by the Economist Intelligence Unit (EIU) commissioned by Manulife Asset Management, the pensioner population in most countries in the Association of Southeast Asian Nations (ASEAN) will triple in less than 40 years.
Entitled “Saving up: The changing shape of retirement fund
ing in a greying ASEAN”, the report revealed that the ageing phenomenon is worst in Singapore. Almost 32 per cent of residents will be over 65 years old in 2050, as compared to 9 per cent in 2010. It will be by far the highest percentage among member nations. Full story