Wastage

Wastage of unemployed elderlys in capital of capital of Singapore. A refer problem faced now in Singapore is an maturement population (AG). By 2020. One in three Singapore residents will be > 50 years old. At the aforesaid(prenominal) time, as life expectancy improves someone retiring at 62 can expect to live for 20 years. olibanum we should make use of these elderlys to maintain competiveness Singapores small and open economy. and not let these experient valuable assets go to waste having a high pct of them being economically inactive(retired or not looking for jobs). hypertext transfer protocol://app1.mcys.gov.sg/Portals/0/Summary/research/State%20of%20the%20Elderly_Release%202.pdf Impacts -Government dependency on foreign rifleers to fill the manpower.(1.19million)(1/3) http://www.mom.gov.sg/statistics-publications/national-labour-market-information/statistics/Pages/labourforce.aspx -Higher dependency ratio. Smaller exertforce to support elderly, higher income tax required to support increase request for healthcare. - - Smaller % of workers supporting a greater government issue of people not in the labour force. Increase in the dependency ratio. More people claiming benefits such as nominate pensions and less people working and paying income taxes. - Those in work will have to pay higher taxes.

This could create disincentives to work and for firms to invest, therefore there could be a fall in productivity growth. To increase productivity, older workers in particular need to improve their workability first. Workability refers to how well a persons health, skills and experience yoke the demands of his job. http://business.asiaone.com/Business/News/Office/Story/A1Story20100208-197496.html ? the govt recognises the advantage for old people ? to share their experiences with the junior workforce ? and help society ? while preparing for retiremnet ? its to modify them to stay active in the community ? while not fetching on too taxing jobs 5,076,700 . In the area of employment, the shortage of young workers will... If you want to get a full essay, tack it on our website: Orderessay

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