Singapore's policy responses to ageing, inequality and poverty: An assessment

Abstract

Abstract Singapore represents an instructive case study in responding to rapid ageing, growing inequalities, and significant relative poverty. Unlike other high‐income Asian countries, it has relied on single‐tier mandatory savings to finance retirement, housing, and to a lesser extent, healthcare. To address the low fertility rates, it has permitted the share of the non‐citizen population to triple between 1990 and 2005 to nearly 30 per cent. This is subtly altering Singapore's socio‐political dynamics, while assisting in sustaining growth and competitiveness. The paper argues that Singapore has the fiscal, institutional, and organizational capacities for a modern multi‐tier social security system. Singapore is, however, determined to continue with current inadequate and inequitable arrangements, requiring individuals and their families to bear disproportionate risks in financing retirement, healthcare, and short‐term income support. This reflects conscious policy choices arising from a Darwinist vision of society, and the need for socio‐political control.