Elderly
Content
China Modelled after SG’s will registry, China will registry opened in March free to help elderly decide how their assets are dealt with after death. More legal disputes over inheritance especially properties which risen in value. Richer families have uglier family spats The findings of ChinaHealth and retirement longitudinal study of Peking University indicate that only 38% of the old people in China share the same roof with their offspring China introduced a new law “the protection of the rights and the interests of elderly people” which demands that adult children visit their parents often as well as offer emotional support Number of old people in China: 185 million to 478
US The latest report, in the Journal of the American Medical Association, suggests that seniors with this positive bias (old age is a time of wisdom, selfrealisation & satisfaction) are 44% more likely to fully recover from a bout of disability
SG A survey in 2010 commissioned by the National Family Council, found that Singaporeans still held onto family values like filial piety. 7 out of 10 of the 1500 people surveyed said that aged parents should be living with them. Older respondents appeared to have a firmer sense of reality and said that they preferred living on their own Age discrimination Special Employment Credit: wage subsidy given to employers for rehiring them Workforce Training Support Scheme: subsidises progs for workers aged 35 and older who earn $1,900 a month. 20% of all workers aged over 50 taking the training Retirement & Re-employment Act (RRA), 2012: statutory minimum retirement age is 62 but employers now required to off reemployment to those eligible up to age 65. For PMEs who lose their jobs before retirement, often in 40s-50s, RRA does not apply. Thus affected by age discrimination in recruitment. Credit card/banking area: banks turning down applications for credit cards for people aged over 55. Monetary Authority
Scandinavian/DCs in a German article, published in 2013 in the Psychology & Aging Journal, older people who were cautious & had lower expectations for a satisfying future live longer and healthier lives than those less cautious Study in UK: 7/10 elderly say that they are rarely if ever consulted about services which affect their lives. 2/3 believes that society sees them as a burden. 6/10 say they never use services specifically designed for elderly & feel younger than they are & do not see age as important The suicide rates among South Koreas who are 65 or older ballooned from 35.5 to 81.9 per 100,000 people from 2001 to 2010
million in 2053 which is 35% of total pop compared to world average of 20%
of SG (MAS) issued statement that people over age 55 must meet criteria for annual income/net personal assets to do so Driving area: insurance companies do not want to renew insurances of those over 65 although traffic police allows people over age 65 to continue driving as long as they pass a medical check-up once every 3 years Recent survey by AXA found that the average Singaporean saw old age starting at 67 whereas Americans think it starts at 77 Public Service Division’s (PSD) policy shift in rehiring junior civil servants at age 62 without a pay cut Silver Spring is a social enterprise targeted at helping senior citizens finds reemployment. Its 6 staff is above 50. First private enterprise authorised by the Workforce Development Agency (WDA) to run a job placement centre Singapore Silver Pages (www.silverpages.com) provides the public with useful eldercare information and resources Each retired person will be supported by just 2.1 working adults by 2030, down from current 5.9 and 13.5 in 1970
People over age 65 are 4 times more likely to be hospitalised and the number of people in that age group expected to triple. People aged above 65 is 2.5% in 1965 but it is expected to be 18.4% of pop in 2030
US The latest report, in the Journal of the American Medical Association, suggests that seniors with this positive bias (old age is a time of wisdom, selfrealisation & satisfaction) are 44% more likely to fully recover from a bout of disability
SG A survey in 2010 commissioned by the National Family Council, found that Singaporeans still held onto family values like filial piety. 7 out of 10 of the 1500 people surveyed said that aged parents should be living with them. Older respondents appeared to have a firmer sense of reality and said that they preferred living on their own Age discrimination Special Employment Credit: wage subsidy given to employers for rehiring them Workforce Training Support Scheme: subsidises progs for workers aged 35 and older who earn $1,900 a month. 20% of all workers aged over 50 taking the training Retirement & Re-employment Act (RRA), 2012: statutory minimum retirement age is 62 but employers now required to off reemployment to those eligible up to age 65. For PMEs who lose their jobs before retirement, often in 40s-50s, RRA does not apply. Thus affected by age discrimination in recruitment. Credit card/banking area: banks turning down applications for credit cards for people aged over 55. Monetary Authority
Scandinavian/DCs in a German article, published in 2013 in the Psychology & Aging Journal, older people who were cautious & had lower expectations for a satisfying future live longer and healthier lives than those less cautious Study in UK: 7/10 elderly say that they are rarely if ever consulted about services which affect their lives. 2/3 believes that society sees them as a burden. 6/10 say they never use services specifically designed for elderly & feel younger than they are & do not see age as important The suicide rates among South Koreas who are 65 or older ballooned from 35.5 to 81.9 per 100,000 people from 2001 to 2010
million in 2053 which is 35% of total pop compared to world average of 20%
of SG (MAS) issued statement that people over age 55 must meet criteria for annual income/net personal assets to do so Driving area: insurance companies do not want to renew insurances of those over 65 although traffic police allows people over age 65 to continue driving as long as they pass a medical check-up once every 3 years Recent survey by AXA found that the average Singaporean saw old age starting at 67 whereas Americans think it starts at 77 Public Service Division’s (PSD) policy shift in rehiring junior civil servants at age 62 without a pay cut Silver Spring is a social enterprise targeted at helping senior citizens finds reemployment. Its 6 staff is above 50. First private enterprise authorised by the Workforce Development Agency (WDA) to run a job placement centre Singapore Silver Pages (www.silverpages.com) provides the public with useful eldercare information and resources Each retired person will be supported by just 2.1 working adults by 2030, down from current 5.9 and 13.5 in 1970
People over age 65 are 4 times more likely to be hospitalised and the number of people in that age group expected to triple. People aged above 65 is 2.5% in 1965 but it is expected to be 18.4% of pop in 2030
