“To a large extent, current research and development and government policies have helped to ease the aging process.” Discuss this statement in relation to your particular field of study or interest (e.g. economics, science, medicine, social policy, architecture, psychology, technological inventions).

“Population ageing is both a triumph and a challenge” (Lim, 2008). With the advances in economics and medical development as well as better health systems, Singaporeans now are having longer life expectancy than they used to have in the past. Current research has shown that Singapore is one of the fastest ageing populations among Asia. However, the drop in birth rates over the past years has resulted in a smaller ratio of younger Singaporeans. Chan (2000) states that as there are fewer people to take care of the elderly, taking care of the elderly will rest on the government’s shoulder and this will has implications on the economy, financial security, living arrangement as well as health care system within the country (Chan, 2000). With researches done on the ageing population and the social policies, in terms of economy, living arrangement and health care system, implemented, these can help to ease the ageing process.
In order to maintain financial security so that the problem of ageing population will not affect the economy, the government has come out with a few policies. As Singaporeans now live longer, they will thus have to work longer. The government promotes lifelong employability to enhance elderly’s employability. By extending the retirement age of the individual, this ensures that even with the increase in elderly, who can still contribute to the society, stay active and have more savings to support themselves by the time they retire. Another way to ensure that Singaporeans are still able to support themselves and maintain financial security of the country