Singapore may suffer the most among Asia countries from an aging population; this is due to the relatively low birth rate and high-quality health care which helps people live longer. The average age for people in Singapore is 37.8 and the total fertility rate is 1.07 children per woman. This means that there would be a decrease in the number of people in the workforce who are economically productive, hence, a weaker economy.
After Singapore independence in 1965, the population of the country increased rapidly that would threaten the success of Singapore as at that time there was not enough housing or jobs for its people. Thus, the government came out with “Stop at Two” Policy to help control the rapid population growth. The policy was so successful that the population started to decline as many couples saw the benefit of in having a smaller family so as to sustain a better standard of living. However, if this continues by 2030, one in five people would be over 65 years old.
What measures are taken?
The “Stop at Two” policy was so successful that it would become a social problem. Thus, the government then came out with “Three or More If You Can Afford” Policy, the government also gave couples many benefits and rebates for those having a fourth child. The policy was a success as after the policy was implemented, there was an increased in birth rate.
It is important that the government take extra measures in taking care of its people health so that they would have a longer lifespan. Singapore generally has an efficient and widespread system of healthcare. It is ranked 6th out of 191 countries and top in Asia for the health system. The government ensures affordability, largely through compulsory saving and price controls.
It is also important to ensure that the health care is affordable so that the poor could afford to pay the medical fee. By doing so, it also allows Singaporean to save up for rainy days.
The government made a compulsory saving for all Singaporeans which is through their Central Provident Fund (CPF) whereby all Singaporean has to set aside a part of their monthly income, accumulating until retirement when the savings can be withdrawn. The government also introduced Medisave which allows CPF members to use their CPF saving for hospitalization expenses for themselves or their dependents.
The government also built several polyclinics all around the neighborhood area in Singapore as there is government subsidy, the consultation fee and medical fee are cheaper than private sectors.
Room of improvements
Even though the healthcare system in Singapore is good and efficient but there are also flaws, such as the Medisave only covers part of expenses and also do not cover some of the illness. The waiting time polyclinics always take up to 1 to 2 hours which is time consuming.
The government could also offer more rebates for couples so that couples would be confident in having children, knowing that they need not worry so much about the family financial position.
The "Stop at Two" Campaign
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