Singapore will be a ‘super-aged’ society in just 15 years. There will be slower economic growth over the next 20 years in both developed and emerging market economies, as working-age populations shrink and household savings rates decline.
Singapore is one of the countries that expects the speediest aging, as growth in working-age population will slow from a robust 48.1% in 2000-15 to a mere 3.8% in 2015-30.
The largest decline in growth is expected in China, Hong Kong, Korea, and Singapore. In 2015 the year alone, over 60% of Moody’s-rated countries will be aging, with more than 7% of their population aged 65 or over. By 2020, super-aged societies (populations with more than 20% elderly) will increase to 13 globally from three today (i.e., Italy, Germany and Japan). By 2030, 34 countries will be super-aged, including Singapore. See source.
While it is indeed laudable that the authorities are setting aside large amount of funds to recreate community life for the elderly from pioneer generation to sliver packages, one of the key things that Hereigns can duplicate as a healthcare equipment provider is to provide accessible equipment that is affordable, which itself comes with the emotional and social support that comes with being in the constant companionship of others who care.
So while we might be working towards a standard of care for our elderly in terms of “hardware” we also realised we need more professional healthcare, social and community workers are needed to provide the expertise to run these services.
More importantly, there is a need to provide the human interaction that the elderly needs, apart from the domestic help who is the care giver or the nursing aide in the institution. As Singapore works towards re-creating a community place for our elderly, many more volunteers are needed to come alongside the elderly as they journey the last leg of their lives on earth.
With such demand in mind, we aim to continue to develop the community and strongly encourage Singaporeans alike to step up their caregiving volunteerism. Take a step back from the rat race, befriend an elderly person whether at your home or at an institution, your presence and smile will not only link the elderly person to the outside world instantly, but will give him hope as he looks forward to that precious time of interaction when you next drop by. If you need help with equipment at an afforable price, do drop us a call. Hereigns is here afterall, which is to serve the growing community.