Monday, 2 February 2015

Life in 2020

Life in 2020 due to aging population

 I feel that in the 2020, the number of elderlys will increase and the number of young people will decrease. This is because, nowadays, people on singapore tend to prefer a smaller family, which can lead to couples having less and less children. Hence, this may lead to an aging population. The number of  people in the workforce will decrease, hence, retirement ages will increase as there will be a lack of workers to increase the economic of singapore. The productivity and economic growth will also decrease since there are less workers. The young people will have to work harder to support the elderlys and more facilities must be built to support to the elderlys. More hospitals must be built to support the elderlys who have weaker bones in general and they are more prone to injuries unlike the young people. Young people will also have the pay higher taxes since there are less people paying taxes. The work load on the young people will be much heavier as there are more elderlys than the working population.

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