Windfall for Singapore’s elderly population

Generous budget: With the second-fastest ageing population in the world after South Korea, Singapore is growing more reliant on older residents staying in the workforce. — Reuters

SINGAPORE: Singapore’s elderly are primed to benefit from a generous budget to be unveiled next week, analysts say, as the government prioritises the needs of a fast-ageing population ahead of an election expected as soon as this year.

As pressure grows on more of the elderly to stay in the workforce beyond retirement age, the low-tax finance hub is set to try and assuage rising social angst over the welfare of a generation born near the end of British colonial rule when Singapore was a basic port town.