In 2024, there were approximately ****** single-person elderly households in Singapore. This figure has been increasing in the past ten years, as Singapore faces the challenge of an aging population. By 2050, it was projected that more than ** percent of the Singaporean resident population would be aged 65 years and above.

In 2024, residents aged 65 years and above made up 18 percent of the total resident population in Singapore. Singapore is currently one of the most rapidly aging 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 well below the 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.

In 2024, there were around 754,000 residents aged 65 years and above in Singapore. Singapore is currently one of the most rapidly aging societies in Asia, along with Japan.

In 2023, residents aged 65 years and above made up *** percent of the total employed resident population in Singapore. Improvements in healthcare and the standard of living over the years have contributed to an increase in life expectancy in Singapore. As a consequence, Singapore is currently one of the most rapidly aging societies, including an aging workforce, in Asia. Aging workforce The minimum retirement age in Singapore is currently set at 62 years old. Even so, **** percent of residents aged 65 years old were still employed or seeking employment. For many Singaporeans, retirement brings with it an increased economic burden. There is no system of state-funded pensions, and retirees depend largely on their savings. However, a survey on current working age Singaporeans found that few were financially prepared for retirement. Increased financial dependency on elderly breadwinners An increasingly elderly population has also led to the trend of increasing number of households who depend on elderly breadwinners, almost tripling since 2000. The number of elderly single-person households have also increased. To mitigate the economic burden on the elderly, the Singapore government has launched several upskilling programs to ensure that the elderly remain competitive in the workforce. However, beyond extending their employability, few other social safety nets are currently available to ensure a comfortable retirement for the elderly, regardless of income level.

Singapore SG: Age Dependency Ratio: % of Working-Age Population data was reported at 38.703 % in 2017. This records an increase from the previous number of 37.984 % for 2016. Singapore SG: Age Dependency Ratio: % of Working-Age Population data is updated yearly, averaging 40.855 % from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 87.574 % in 1963 and a record low of 35.796 % in 2010. Singapore SG: Age Dependency Ratio: % of Working-Age Population data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank.WDI: Population and Urbanization Statistics. Age dependency ratio is the ratio of dependents--people younger than 15 or older than 64--to the working-age population--those ages 15-64. Data are shown as the proportion of dependents per 100 working-age population.; ; World Bank staff estimates based on age distributions of United Nations Population Division's World Population Prospects: 2017 Revision.; Weighted average; Relevance to gender indicator: this indicator implies the dependency burden that the working-age population bears in relation to children and the elderly. Many times single or widowed women who are the sole caregiver of a household have a high dependency ratio.

Background/Aims: Neighborhood socioeconomic status (SES) can affect cognitive function. We assessed cognitive function and cognitive impairment among community-dwelling elderly in a multi-ethnic urban low-SES Asian neighborhood and compared them with a higher-SES neighborhood. Methods: The study population involved all residents aged ≥60 years in two housing estates comprising owner-occupied housing (higher SES) and rental flats (low SES) in Singapore in 2012. Cognitive impairment was defined as

As of June 2024, there were approximately 320,490 residents between the ages of 30 to 34 years old in Singapore, making it the largest age group among its resident population. This reflects the increasingly aging population of Singapore, a significant demographical shift that will have long-lasting socio-economic repercussions. Living longer… The improvements in health care and quality of life has led to Singapore having one of the highest life expectancies in the world. Coupled with one of the lowest fertility rate globally, Singapore society faces a crisis of aging. The average age of its resident population is projected to increase to just under 51 years old by 2050. …and working longer The prospect of an aging population is worrying for a country whose most important resource is its people. The current retirement age of 62 would no longer be tenable when close to half the population is expected to be aged 65 years or older by 2050. There is already a trend of elderly workers re-entering the workforce, be it to keep themselves occupied or to support themselves financially. The share of the population who would be working well into old age looks set to increase in the future, as a majority of Singaporeans have indicated that they were not financially prepared for old age.Singapore is well-known for its emphasis on career and shunning welfare policies; however, there is an urgent need to rethink and overhaul its social security and medical care systems to weather the silver tsunami that is set to engulf the island state.

According to a survey conducted by Rakuten Insight in December 2023, around ** percent of Singapore consumers aged 55 years and older who had adopted sustainable consumption practices stated that they reduced the usage of single-use plastic, such as plastic shopping bags, plastic straws, or take-away cups. The same survey found that around ** percent of Singaporean respondents adopted sustainable consumption practices when purchasing goods.