wow, it is very scary to grow old in sg if you have no
money!
Elderly
Growing old
In hot-paced Singapore where welfarism is a dirty word, the
lowly-skilled aged could head for tougher times.
By Seah Chiang Nee, littlespeck.com
Mar 4, 2007
DESPITE economic prosperity, more and more elderly Singaporeans
past retirement age are working as cleaners or toilet attendants,
instead of playing with grandchildren.
That they are opting to work past 62 years of age is not surprising
and, in fact, could be a plus point. After all, Singapores life
expectancy is 81.7 years, the worlds third highest, even ahead of
Japan (81.25 years).
But what is not savvy about it is they are doing the sort of menial
work once done by unskilled foreign workers. Some 35.7% are
cleaners or related work, where incomes are low.
Its not that the elderly dont want to retire, many simply cannot
afford to, said Rick Lim in a letter.
He was responding to a government backbencher who had asked why the
senior citizens could not just retire early and enjoy life, and he
wondered if their expectations of life were too high.
Lim wrote: Are the senior citizens working as cleaners because
they are saving to purchase a condominium or a luxury car, or is it
because they need to feed themselves and their families?
This is the other face of prospering Singapore, which has one of
the worlds fastest ageing populations.
Recently, a student from China who was interviewed said that he
found it strange to see so many cleaners were elderly, compared to
poorer China where they would be enjoying their retirement.
Blame it on globalisation, insufficient safety net or poor
education when they were young (probably all together) but it has
made old age synonymous rightly or wrongly with poverty and
hardship.
This is why some Singaporeans who are 45 or older are not looking
forward to the prospect of living in one of the worlds richest
nations in 20 years time.
The reason? By then they will be joining the unappealing ranks of
the citys greying population (aged 65 or more) even as the city
moves upwards.
Minister Mentor Lee Kuan Yew painted the exciting scenario recently
of a fast-developing Singapore moving into the upper half of the
First World. We can do this in the next 10-20 years.
Even today growing old is not a good thing. Many employers consider
45-year-olds as over the hill, preferring to replace them with
younger, cheaper workers.
(Making things worse is the large influx of foreign workers who are
ready to accept lower salaries.)
The majority of aged workers are lowly skilled and make up the bulk
of Singapores struggling class. In recent years, their income has
either stagnated or declined, while the rich got richer.
This affects their ability to save for retirement, despite their
mandatory Central Provident Funds.
Only 27% of Singaporeans between 25 and 75 said that they have
sufficient funds to retire, compared with 61% of Thais and 47% of
Malaysians, according to an insurance company survey.
Today one in 12 Singaporeans are 65 or older; by 2030, this will
become one in five.
Like elsewhere, this age group has more than a higher rate of
homeless and poor, the depressed, and the desperately sick. Many
are becoming victims of cheating or crime; suicide rates are
high.
In a post-mortem of the 2006 election, leaders of the ruling
Peoples Action Party attributed its large 9% drop in popularity to
older votes.
If it is true, it doesnt augur well for its future because this
base of senior citizens is growing very quickly.
The decision to increase its 5% Goods and Services tax (GST) to 7%
will be an added blow to Singaporeans, especially the elderly
low-income or retirees group.
To mitigate the impact, the government is offering GST credits of
up to S$1,000 (RM2,296) to all over 21 years old, that will be
apportioned according to income and home value.
In addition, the 2007 Budget also gave Singaporeans a bonus of up
to S$1,000 to all Singaporeans who make S$100,000 (229,600) or
less, with those over 55 getting the lions share.
Two-thirds will be in cash and the rest in Medisave for
healthcare.
But it is jobs that remain the bugbear for the seniors because many
employers are reluctant to employ or keep people over 50.
Lee Seck Kay says that government efforts to keep elderly people
gainfully employed are failing, citing a friend who was retrenched
from a foreign oil company.
When he applied to a local one, he was told that at 55 he was too
old. They were looking for someone below 48, he added.
Citizens over 55 are given discounts for public transport and
entertainment places (non-peak hours), far short of what the public
wants.
These Singaporeans have spent a lifetime working hard to build
Singapore up, whether as coolies or managers, and should be looked
after during their sunset years, many believe.
Singapore is one of the most expensive places in Asia to retire in,
observes a grandmother of two. The old should be enjoying their
time, not working as cleaners.
Singapore has the worlds highest rate of public home ownership. It
may be establishing a new trend of downgrading, owners selling
their flats for smaller ones to free up cash for retirement.
A newspaper reader, Lee Chin Wai, notices that official figures
show potential up-graders (the opposite) still outnumbering
down-graders by three to one.
If one rules out migration, this ratio could drop to one-to-one by
2017.
A retiree suggested the government dip into its reserves to pay
each Singaporean over 65 a monthly S$200-S$300 (RM459-RM689) for
the rest of his life so that he can enjoy his sunset years an
unlikely event.
