Singapore's old-age support ratio, the number of working adults supporting a senior, has nearly halved over the past decade, raising concerns about labour force participation and the need for foreign workers.
Singapore's old-age support ratio, the number of working adults able to financially support a senior, has nearly halved in the past decade. The Manpower Ministry highlighted the need to remain open to a foreign workforce due to a lower labor force participation rate for the third year in a row. In 2014, there were six residents aged 20 to 64 for every elderly person aged 65 and over. This year's ratio has almost halved to 3.5.
The Ministry of Manpower projects this ratio to fall further to less than three by 2030. However, if foreign workers are included, there would be five working adults supporting an elderly person
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