Singapore is preparing for a fundamental shift in how it views ageing, moving away from the concept of an ageing population toward the creation of a “longevity society.” During the launch of the Singapore Management University’s (SMU) Longevity Societies and Economies Institute (LSEI) on April 14, Ms Indranee Rajah, Minister in the Prime Minister’s Office, emphasized the necessitate to redesign work, communities, and support systems.
Redefining the Life Cycle
Minister Indranee Rajah, who also serves as Second Minister for Finance and National Development, stated that the traditional three-stage model of education, work, and retirement may no longer be viable. Instead, lives could involve multiple, overlapping phases of learning, working, caregiving, and contribution.
For instance, individuals may step away from their careers to care for young children or elderly parents before returning to the workforce. This shift is necessary to ensure citizens remain active, purposeful, and connected as lifespans extend.
The Role of the LSEI
The newly launched LSEI will study ageing through economic and societal lenses. Its primary focus is to translate research into actionable strategies for workforce transformation, retirement systems, and financial security to help the nation harness the opportunities of longevity.
The institute has already established joint research partnerships with five key stakeholders: Workforce Singapore, the Agency for Integrated Care, Singlife, St Luke’s ElderCare, and Lions Befrienders.
Addressing Demographic Pressures
The urgency for this redesign is driven by rapidly changing demographics. Currently, one in five Singaporeans is aged 65 and above, a figure expected to rise to one in four by 2030. In approximately 15 years, one in every three seniors is expected to be 80 or older.
Professor Paulin Straughan, director of the Centre for Research on Successful Ageing (ROSA) and interim co-director of LSEI, noted that Singapore must move away from the assumption that systems from the last 60 years will continue to work. She stressed the importance of curating pathways for healthy seniors to remain productive.
Targeted Interventions and Future Scope
Initial research from LSEI indicates that while both genders remain socially active after retirement, retired men may be at a higher risk of feeling a reduced sense of meaningful contribution. Such findings could lead to more targeted policy and community interventions.
As the institute evolves, it may explore new financing and business models, strengthen regulatory frameworks, and address governance issues including cybersecurity, privacy, and societal acceptance.
Frequently Asked Questions
What is the difference between an ageing population and a longevity society?
According to Minister Indranee Rajah, preparing for a longevity society involves redesigning societies and rethinking the organisation of work and support systems to allow people to remain active and purposeful, rather than simply managing an older population.
What are the projected demographic changes for Singapore by 2030?
By 2030, the proportion of Singaporeans aged 65 and above is expected to increase from the current one in five to one in four.
Which organisations are partnering with the LSEI for research?
The LSEI has partnered with Workforce Singapore, Singlife, the Agency for Integrated Care, St Luke’s ElderCare, and Lions Befrienders.
How should societies adapt to ensure that health and productivity are maintained well beyond the traditional retirement age?
