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Friday, February 03, 2017

Companies cash in on silver dollar

Click HERE

Old people living longer is not just about burden to the young; they can also continue to contribute to much-needed manpower in the case of Singapore. Note: retirement age will be extended to 67 yo with the implementation of the re-employment act this year.
This article gives us another idea as to the benefit of an ageing population with old people living longer....They can be a potential market to be tapped where they play the role of the consumers instead of workers. The term is 'silver dollar industry.'
"The market is huge: In Singapore alone, one in four Singaporeans will be at least 65 years old by 2030, up from one in eight now."

For the qn below, note that longer life expectancy can also refer to reduced infant mortality rate, esp in developing nations where babies are known to die before they can even grow up....In the context of developing nations, this can be good news as it means an additional pair of hands to help out in the farm and support the family.

Qn: Longer life expectancy creates more problems than benefits. Discuss. (Cam. 2016)