The Institute of Policy Studies (IPS) held its annual flagship Singapore Perspectives (SP) conference on 22 January 2018. The theme of SP2018 was "Together" and it considered Singapore's demographic challenges and opportunities as a global city-state without natural resources. Kicking off SP2018, IPS Director Janadas Devan framed the demographic scenarios to be discussed in the conference in the context of Singapore being a city-state. Noting the bifurcation of Singapore's identity between the global and the local, he cautioned against the possibility of emerging divisions in Singapore, along age, class, or racial lines and emphasied the role of politics and policy in keeping us together. The Institute of Policy Studies (IPS) © 2018
This presentation seeks to elucidate the opportunities for further demographic dividends and policy adjustments and innovations, to ensure that Singapore remains an open and vibrant city-state with a productive population, and a stable, cohesive and inclusive society. The Institute of Policy Studies (IPS) © 2018
Acknowledging the inevitable process of ageing and Singapore's ageing phenomenon, DPM Teo highlighted in his speech the importance of ageing with vigour. He also added that owing to the strong foundations laid down by our pioneers, Singaporeans are now better prepared for ageing compared to many other countries. Notwithstanding, Singaporeans need to remain committed at the individual, familial, communal, occupational, and national levels to stay prepared for ageing. The Institute of Policy Studies (IPS) © 2018
The First panel of the conference will consider the economic consequences of an older workforce and ask who is to bear the costs associated with longer life and a spectrum of care needs among the aged. We examine, specifically, the human capital and economic development policies necessary to enable businesses and workers to harness longevity dividends, as well as alternative paradigms for fostering a dynamic economy. How can we strengthen social risk-pooling schemes to make for secure and equitable lives that soften the hard edge of being a competitive, meritocratic society through the life course of ordinary Singaporeans? What is the role of immigration in this picture? How can we couple economic dynamism with successful and productive ageing? The Institute of Policy Studies (IPS) © 2018
Panel two considered the possible fault lines that could emerge in an ageing society, in areas such as taxation, immigration and jobs. Panellists also urged society to consider the economic potential of the silver industry and discussed whether we should aspire to be an "age-less" society - where age is irrelevant - or an "age-friendly" society - where we confront and address issues that come with an ageing society. It is often assumed that there will be a contest for political, cultural and social space amongst different segments of the population, especially between the young and the old, localand foreign-born, in the context of a small, open economy confronted the challenges of sustaining economic growth and dynamism. This panel delves into the political, social and, cultural dimensions of Singapore's evolving population structure and how this may give rise to age-based political or social divides. The speakers will consider the political, social and community dimensions of balancing the needs of different generations in a manner that ensures sustainability not just in the fiscal or economic sense, but also the whole of our diverse society in this small, yet global city-state. Key questions include the likelihood of age-based political divides to arise as our population ages, whether income and wealth inequalities transmitted across generations will fracture the community, and the continued viability of the family as the first line of social support. Will Global City Singapore be "no country for old men", or will it be a city-state for all ages? To whom will Singapore belong, if the citizens of Singapore do not replace themselves?. The Institute of Policy Studies (IPS) © 2018
Singapore Perspectives 2018 "Together" Panel Three: Singaporeans Living Longer - Asset or Liability?
Singapore is one of the most rapidly ageing societies in the world. It is often said that "demography is destiny", and most narratives and discourse around population ageing typically frame the issues pessimistically, referring to the elderly as dependent and a burden to society. Are there alternative, more positive trajectories for Singapore's demographic story? What needs to be updated in our social care, social security and retirement funding systems to enable Singaporeans to live longer lives successfully? This panel assesses our current social and economic institutions and policies with an eye on how they may be adapted to help us harness the upside of Singapore's longevity revolution. The Institute of Policy Studies (IPS) © 2018
Conference "Singapore Perspectives 2018 "Together". The Institute of Policy Studies (IPS) will hold its annual flagship Singapore Perspectives (SP) conference on 22 January 2018. In harmony with this year's theme of 'Together', Finance Minister Heng Swee Keat emphasised how various issues such as healthcare, ageing and finance come intertwined, the need to approach these issues "in a more cross-disciplinary way", and the importance of various organisations, both private and public, to come together to devise policy solutions.. The Institute of Policy Studies (IPS) © 2018