An overview across three generational packages: Pioneer Generation, Merdeka Generation, and Young Seniors

• Main Authors: STRAUGHAN, Paulin T., TAN, Yi Wen, NGU, Rachel, TIEW, Zidane, LIM, Wensi
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2023
• Subjects: Older adults; social policy; population characteristics; Singapore; Asian Studies; Demography, Population, and Ecology; Family, Life Course, and Society; Gerontology; Social Policy
• Online Access: https://ink.library.smu.edu.sg/rosa_reports/21; https://ink.library.smu.edu.sg/context/rosa_reports/article/1020/viewcontent/Singapore_s_Three_Generational_Packages_Research_Brief.pdf
• Institution: Singapore Management University

In Singapore, there has been a concerted effort to implement diverse programs and initiatives to cater to the needs of the ageing demographic. In Singapore, it is expected that those aged 65 and above will make up 27% of the population by 2030 (Soh et al., 2020). It is also crucial to acknowledge that within this ageing population, each cohort follows a distinct life trajectory (Hooyman & Kiyak, 2010). For instance, older generations in Singapore may have navigated through uniqueevents like World War II, profoundly impacting their life trajectories. Meanwhile, newer generations are likely to experience remarkable economic growth alongside increased living standards over time. In response, the government has introduced tailored packages for the unique needs of these groups. It is therefore important to assess the health and economic characteristics of each generational group in accordance with these tailored schemes. This allows policy makers to have a general sense of retirement adequacy across groups, which may aid them in their policy decisions.