Summary: With increasing life expectancy and low birth rates, Singapore faces the prospect of a shrinking and ageing population and workforce. More elderly people close to retirement age today are keen to explore new work opportunities or carry on with their careers. Most want to keep their minds engaged and continue having a source of income. People have to take proactive steps to build a comprehensive savings plan for their future financial needs so that they can look forward to a better retirement.
Opinion: I feel that the issue off ageing population can become a very difficult problem if not handled properly with adequate measures. With more retirees, there will be more people with financial difficulties, and the government have to do more and spend more to help them. Therefore, now while most of them are still working, the government should do more to help these people save up and prepare for their retirement. This can be done by orgainising workshops, courses and seminars about financial planning and retirement plans.
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