June 12, 2012

Proportion of Singaporeans over 65 will triple by 2050.


Source: Jakarta Post
By mid-century, nearly a third of Singaporeans will be aged over 65, the highest proportion among ASEAN countries, a new study has found.
A report published by Manulife Asset Management said that by 2050, 32 percent of the population here will be above 65. In 2010, the figure was 9 percent.
But it said that the problem will affect the entire region. The percentage of retirees in ASEAN countries will almost double in less than 20 years, and treble over 40 years.
Looking ahead, the Economist Intelligence Unit – which carried out the study for Manulife – expects strong growth for the combined life insurance assets of households in the six largest ASEAN markets.


Life insurance reserves in Singapore are expected to increase from US$12.3 billion in 2010 to $18.8 billion in 2016. Households' equity assets are also expected to grow from $542.8 billion in 2010 to $861.7 billion in 2016.

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