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Singapore’s old-age support ratio nearly halves in 10 years, but foreign workforce provides buffer: MOM
https://www.businesstimes.com.sg/singapo...buffer-mom

Analysis of "Singapore’s old-age support ratio nearly halves in 10 years, but foreign workforce provides buffer: MOM"
 
Title: Singapore’s old-age support ratio nearly halves in 10 years, but foreign workforce provides buffer: MOM
 
Source: The Business Times, published on November 28, 2024
 
Author: Not explicitly mentioned
 
Theme: The article discusses the declining old-age support ratio in Singapore and how the growing foreign workforce helps to alleviate the pressure on the resident workforce.
 
Core Points:
 
- Declining Old-Age Support Ratio: Singapore's old-age support ratio has nearly halved in the past decade, dropping from 6 residents aged 20 to 64 for every resident aged 65 and above in 2014 to 3.5 in 2024. This trend is expected to continue, reaching 2.7 by 2030.

- Foreign Workforce as a Buffer: The inclusion of foreign workers significantly improves the old-age support ratio, raising it to 5.2 in 2024. This is presented as a positive factor, relieving economic pressure from the aging population.

- Government's Approach: The government plans to support seniors who wish to remain in the workforce while also emphasizing the need for a "practical and pragmatic" approach, including welcoming foreign workers.

- Focus on Quality Foreign Workers: The Ministry of Manpower (MOM) aims to bring in "quality foreign workers" who complement, rather than replace, the local workforce.

- Ageing Workforce Impact: Singapore's aging population has already impacted labor participation, with the overall labor force participation rate declining for three consecutive years.

- Seniors Working Longer: Despite the overall decline, more seniors are working longer, with the largest increase in labor force participation observed among those aged 65 to 74.

- Youth Participation Decline: The participation rate of youths aged 20 to 24 years declined over the decade, attributed to more pursuing further studies and delaying entry into the workforce.

- Government Support for Workforce Longevity: The government is supporting companies to extend the longevity of the workforce through reskilling, training, career conversion pathways, and grants for productivity enhancement or job redesign.

- Flexible Work Arrangements: Tripartite guidelines on flexible work arrangements will come into effect, with the government focusing on broadening company mindsets rather than imposing prescriptive measures.
- Untapped Potential: The article highlights the potential of leveraging the skills of women not in the workforce and mature workers seeking more "leisurely" work.
 
Phenomenon: The article highlights the demographic shift in Singapore, characterized by an aging population and a declining old-age support ratio. This shift poses challenges for the economy and social welfare system.
 
Inconsistent, Contradiction, Ambiguities, Flaw, Weasel Words, Loaded Language, Data Discrepancy, Type Propaganda and Fallacy:
 
- Weasel Words: The article uses phrases like "some relief" and "quality foreign workers" which are subjective and lack specific definition. "Quality" is open to interpretation and can be used to downplay potential negative impacts of foreign workers.

- Loaded Language: The article uses language that suggests a positive view of foreign workers as a "buffer" and "complement" to the local workforce. This framing could be seen as downplaying the potential challenges of relying on foreign workers.

- Ambiguity: The article mentions an "ideal rate of foreign workforce growth" but does not provide a specific target or how this rate would be determined. This ambiguity leaves room for interpretation and potential manipulation of the data.

- Data Discrepancy: While the article highlights the positive impact of the foreign workforce on the old-age support ratio, it does not address potential negative impacts on wages, job security, or social cohesion. This selective presentation of data could be seen as misleading.

- Propaganda: The article could be seen as promoting the government's agenda of welcoming foreign workers. By emphasizing the benefits of foreign workers and downplaying potential challenges, the article might be attempting to sway public opinion.

- Fallacy: The article uses the "false dilemma" fallacy by suggesting that the only options for addressing the aging population are relying on foreign workers or facing higher taxes on the resident workforce. This ignores other potential solutions, such as promoting higher birth rates or increasing productivity.
 
Overall: The article provides a snapshot of Singapore's demographic challenges and the government's approach to addressing them. However, it relies heavily on loaded language, ambiguous claims, and selective data presentation, which raises concerns abo
ut its objectivity and potential for propaganda.

Here are the ambiguities highlighted and quoted from the article:
 
- "some relief to the economic pressures of an ageing population" - This phrase is subjective and lacks specific details about the extent of the relief or how it is measured. It implies a positive impact but doesn't offer concrete evidence.

- "Asked if there was an ideal rate of foreign workforce growth to reach a particular old-age support ratio, Dr Tan replied that there is no prescribed formula or ratio, as it is also a function of economic demand." - This statement avoids providing a clear answer about the ideal rate of foreign workforce growth. It suggests that there's no fixed formula, leaving the issue open to interpretation and potential manipulation.

- "MOM’s focus is on bringing in “quality foreign workers” who can complement the local workforce, rather than replacing it." - The term "quality" is subjective and lacks specific criteria. It's unclear what defines a "quality" foreign worker, leaving room for interpretation and potential bias in selection.
 
These ambiguities create a sense of uncertainty and lack of transparency regarding the government's approach to managing the aging population and the role of foreign workers. They also leave room for potential manipulation of the data and the narrative surrounding the issue.

You're right to be skeptical about data discrepancies. While the article presents a clear picture of the declining old-age support ratio and the positive impact of foreign workers, it lacks crucial context and potentially omits relevant data points. Here are some potential data discrepancies:

1. Lack of Context for Old-Age Support Ratio: The article states the ratio has halved, but it doesn't compare Singapore's ratio to other developed nations. Is this decline significantly faster or slower than other countries with aging populations? This comparison would provide a more accurate perspective on the severity of the situation.
2. Focus on Foreign Workers' Benefits, Ignoring Potential Drawbacks: The article highlights the positive impact of foreign workers on the old-age support ratio but omits any mention of potential negative impacts on wages, job security, or social cohesion for local workers. This selective presentation could be misleading.
3. Limited Data on Labor Force Participation: The article mentions the decline in overall labor force participation but doesn't provide specific data on the number of seniors and youths who are not participating. This limits the understanding of the full scope of the issue.
4. No Data on Productivity: The article focuses on the number of workers but doesn't mention productivity levels. Are foreign workers contributing to higher productivity, offsetting the decline in the resident workforce? This information is crucial for understanding the overall impact on the economy.
5. No Data on Government Spending: The article mentions the government's support for seniors and companies, but it doesn't provide data on the amount of government spending allocated to these initiatives. This information would help assess the effectiveness and sustainability of these programs.

To address these data discrepancies, the article should:

- Provide comparative data: Compare Singapore's old-age support ratio to other developed nations to understand the context of the decline.
- Acknowledge potential drawbacks: Address the potential negative impacts of relying on foreign workers on wages, job security, and social cohesion.
- Provide detailed data on labor force participation: Include specific data on the number of seniors and youths who are not participating in the workforce.
- Include data on productivity: Analyze the impact of foreign workers on productivity levels to understand the overall economic impact.
- Provide data on government spending: Disclose the amount of government spending allocated to supporting seniors and companies to assess the effectiveness and sustainability of these programs.

By providing a more comprehensive and balanced presentation of data, the article would offer a more accurate and insightful analysis of Singapore's demographic challenges and the government's approach to addressing them.

On the Old-Age Support Ratio:

- "The article states that the old-age support ratio has nearly halved in the past decade. What specific measures are being taken to address this decline, beyond relying on foreign workers?"

- "Can Minister Tan See Leng provide specific examples of how the government is supporting seniors to remain in the workforce, especially those who might not be able to handle physically demanding jobs?"

- "The article mentions an 'ideal rate' of foreign workforce growth. Can Minister Tan See Leng elaborate on how this rate is determined and what specific targets are being considered?" (This seeks clarity on the government's approach to foreign worker influx.)

On the Foreign Workforce:

- "The article emphasizes the positive impact of foreign workers on the old-age support ratio. However, it doesn't address potential negative impacts on wages, job security, or social cohesion. Can Minister Tan See Leng address these concerns?"

- "How does the government ensure that foreign workers are truly complementing the local workforce and not replacing local workers?" (This probes the government's strategy for integrating foreign workers.)

- "What specific measures are being taken to ensure that foreign workers are receiving fair treatment and working conditions, and that they are not exploited?"

On the Future:

- "The article mentions the government's support for companies to 'prolong the longevity of the workforce.' Can you elaborate on the specific initiatives and their effectiveness in addressing the long-term challenges of an aging population?"

- "What are the government's plans for addressing the declining participation rate of young people in the workforce?"

- "The article highlights the potential of leveraging the skills of women and mature workers. Can Minister Tan See Leng share specific plans for encouraging their participation in the workforce and addressing the challenges they face?"

Foreign workforce growth has helped to relieve  . . . .tax burden

----------------------------------------

Sack SBQ who drove computer and AI

so that the number of jobs decrease

The Govt imported many Malaysians, peidu mama and CECA for each decade and drastically worsen the ratio. Are they going to import 2 million Indonesians next to worsen the situation 10 years later?

Questions part 1

1. The Impact of Foreign Workforce on the Long-Term Sustainability of the Old-Age Support System:

- Question: While the foreign workforce provides a temporary buffer, is this a sustainable solution for the long-term? How does the increasing reliance on foreign workers affect the long-term viability of Singapore's social safety net and the sustainability of its pension system?

- What are the potential economic and social consequences of a perpetually growing foreign workforce on the resident population, especially in terms of competition for jobs, housing, and social services? How does the government plan to ensure that the benefits of a foreign workforce are shared equitably among all residents?

2. The Role of Government Policies in Addressing the Declining Old-Age Support Ratio:

- Question: What specific policies and initiatives is the government implementing to address the declining old-age support ratio beyond relying on foreign workers? How are these policies designed to encourage higher birth rates, promote longer working lives, and ensure adequate retirement savings?

- Are these policies sufficient to address the root causes of the declining ratio? What are the potential challenges in implementing these policies, and how does the government plan to overcome them?

3. The Impact of the Declining Old-Age Support Ratio on Singapore's Economic Growth and Competitiveness:

- Question: What are the potential economic implications of a shrinking working-age population and an aging workforce on Singapore's economic growth and competitiveness? How will this affect the country's ability to attract foreign investment and maintain its position as a global business hub?

- How does the government plan to mitigate the potential economic consequences of an aging population? What are the specific measures being taken to enhance productivity, foster innovation, and create a more inclusive and adaptable workforce?

4. The Ethical Considerations of Relying on Foreign Workers to Address the Old-Age Support Ratio:

- Question: Does relying heavily on foreign workers to address the declining old-age support ratio raise ethical concerns about exploiting foreign labor and potentially creating a two-tier workforce? How does the government ensure that foreign workers are treated fairly and have access to the same rights and benefits as resident workers?

- What are the potential long-term social and cultural implications of a growing foreign workforce on Singapore's national identity and social cohesion? How does the government plan to address the challenges of integrating foreign workers into Singaporean society?

5. The Need for a Comprehensive and Long-Term Strategy to Address the Aging Population:

- Question: Does Singapore have a comprehensive and long-term strategy to address the challenges posed by its aging population? How does the government plan to create a society that is both economically viable and socially just for all its residents, regardless of age?

- What are the key elements of this strategy, and how does it address the interconnected challenges of population aging, economic growth, social welfare, and national identity?

Questions part 2

_Clarification Questions_

1. Can minister tan see leng provide a clear definition of the "old-age support ratio" and how it is calculated?

2. What are the specific data sources used to calculate the old-age support ratio, and are they publicly available?

3. Can minister tan see leng provide a detailed breakdown of the data used to calculate the old-age support ratio for each year over the past decade?

_Data Validation Questions_

1. How does the Ministry of Manpower (MOM) ensure the accuracy and reliability of the data used to calculate the old-age support ratio?

2. Are there any potential biases or limitations in the data that could impact the accuracy of the old-age support ratio?

3. Can minister tan see leng provide evidence of any data validation or quality control processes used by the MOM to ensure the integrity of the data?

_Comparison Questions_

1. How does Singapore's old-age support ratio compare to other developed economies, and what are the implications of this comparison?

2. Can minister tan see leng provide a comparison of the old-age support ratio across different demographic groups in Singapore, such as by age, income level, or education level?

3. How does the old-age support ratio vary across different industries or sectors in Singapore, and what are the implications of this variation?

_Methodology Questions_

1. What methodology was used to calculate the old-age support ratio, and are there any limitations or assumptions inherent in this methodology?

2. Can minister tan see leng provide a detailed explanation of how the MOM accounts for changes in population demographics, such as aging or migration, when calculating the old-age support ratio?

3. How does the MOM ensure that the old-age support ratio is calculated consistently over time, and are there any plans to revise or update the methodology used to calculate this ratio?

_Transparency Questions_

1. Can minister tan see leng provide access to the raw data used to calculate the old-age support ratio, and are there any plans to make this data publicly available?

2. How does the MOM ensure transparency and accountability in the calculation and reporting of the old-age support ratio?

3. Can minister tan see leng provide a clear explanation of how the MOM responds to criticisms or concerns raised about the accuracy or reliability of the old-age support ratio?

Singapore’s old-age support ratio nearly halves in 10 years, but foreign workforce provides buffer: MOM
https://www.businesstimes.com.sg/singapo...buffer-mom
 
澄清问题
 
1. 部长陈诗龙能否提供“老年抚养比”的明确定义及其计算方法？
2. 计算老年抚养比所使用的具体数据来源是什么，这些数据是否公开？
3. 部长陈诗龙能否提供过去十年每年的老年抚养比计算所用数据的详细细分？
 
数据验证问题
 
1. 人力部（MOM）如何确保用于计算老年抚养比的数据的准确性和可靠性？
2. 数据中是否存在可能影响老年抚养比准确性的潜在偏差或局限性？
3. 部长陈诗龙能否提供人力部为确保数据完整性而实施的任何数据验证或质量控制流程的证据？
 
比较问题
 
1. 新加坡的老年抚养比与其他发达经济体相比如何，这种比较有何意义？
2. 部长陈诗龙能否提供新加坡不同人口群体（例如按年龄、收入水平或教育水平划分）的老年抚养比比较？
3. 新加坡不同行业或部门的老年抚养比如何变化，这种变化有何意义？
 
方法问题
 
1. 计算老年抚养比使用了什么方法，这种方法是否存在任何局限性或假设？
2. 部长陈诗龙能否详细解释人力部在计算老年抚养比时如何考虑人口结构变化，例如老龄化或移民？
3. 人力部如何确保老年抚养比在时间上保持一致计算，是否有计划修改或更新用于计算该比率的方法？
 
透明度问题
 
1. 部长陈诗龙能否提供用于计算老年抚养比的原始数据访问权限，是否有计划公开这些数据？
2. 人力部如何确保老年抚养比的计算和报告的透明度和问责制？
3. 部长陈诗龙能否清楚地解释人力部如何回应针对老年抚养比的准确性或可靠性的批评或担忧？

问题第一部分
 
1. 外籍劳工对老年抚养体系长期可持续性的影响：
 
- 问题： 外籍劳工虽然提供了暂时的缓冲，但这是否是一个长期的可持续解决方案？越来越依赖外籍劳工如何影响新加坡社会保障体系的长期可行性和养老金制度的可持续性？
- 探究： 外籍劳工队伍持续增长对本地居民可能带来哪些潜在的经济和社会后果，特别是在就业、住房和社会服务方面的竞争方面？政府计划如何确保外籍劳工带来的益处能公平地惠及所有居民？
 
2. 政府政策在应对老年抚养比下降中的作用：
 
- 问题： 除了依赖外籍劳工，政府正在实施哪些具体政策和举措来应对老年抚养比下降？这些政策是如何设计来鼓励生育率提高、延长工作寿命以及确保充足的退休储蓄的？
- 探究： 这些政策是否足以解决老年抚养比下降的根本原因？实施这些政策可能面临哪些挑战，政府计划如何克服这些挑战？
 
3. 老年抚养比下降对新加坡经济增长和竞争力的影响：
 
- 问题： 工作年龄人口减少和老龄化劳动力对新加坡经济增长和竞争力可能带来哪些潜在的经济影响？这将如何影响新加坡吸引外资和保持其全球商业中心地位的能力？
- 探究： 政府计划如何缓解人口老龄化可能带来的潜在经济后果？正在采取哪些具体措施来提高生产力、促进创新以及打造更具包容性和适应性的劳动力队伍？
 
4. 依靠外籍劳工来应对老年抚养比下降的伦理考量：
 
- 问题： 严重依赖外籍劳工来应对老年抚养比下降是否会引发对剥削外籍劳工和可能造成双重劳动力队伍的伦理担忧？政府如何确保外籍劳工得到公平对待，享有与本地居民相同的权利和福利？
- 探究： 外籍劳工队伍不断壮大对新加坡的民族认同和社会凝聚力可能带来哪些潜在的长期社会和文化影响？政府计划如何应对将外籍劳工融入新加坡社会所面临的挑战？
 
5. 应对人口老龄化挑战的综合性和长期战略的必要性：
 
- 问题： 新加坡是否制定了应对人口老龄化挑战的综合性和长期战略？政府计划如何打造一个对所有居民来说既经济可行又社会公正的社会，无论其年龄如何
？
- 探究： 这一战略的关键要素是什么？它如何应对人口老龄化、经济增长、社会福利和民族认同等相互关联的挑战？

(30-11-2024, 09:31 PM)Symmetry Wrote: [ -> ]The Govt imported many Malaysians, peidu mama and CECA for each decade and drastically worsen the ratio. Are they going to import 2 million Indonesians next to worsen the situation 10 years later?

They seem to be holding FTs high in the air because PaP owes them a Living. Buffer is a lame excuse when they lack the competencies to amend their sins against this country.

Support old aged pensioners without a single cent

What support?

The purse for old aged Singaporeans support looks empty yet, the string is securely tightened ..

Where got logic?