Mr President
Distinguished Delegates
Ladies and Gentlemen

1. Let me begin by congratulating the United Nations for organising this Assembly, which brings together stakeholders from all over the world to discuss how we can better address the shared challenges of population ageing.

2. The International Plan of Action on Ageing, which was adopted at the 1St World Assembly on Ageing held in Vienna in 1982, sought to lay out a comprehensive set of principles and guidelines on how countries can go about addressing the complex issues and challenges surrounding an ageing society. The Plan was the first international instrument on ageing. It has strengthened the capacity of Governments and civil societies to deal effectively with population ageing and promoted regional and international cooperation in this area.

3. I salute all those involved in developing the first Plan for their vision and farsightedness. I also congratulate the organisers of this 2nd World Assembly for championing this spirit of sharing policy experiences and best practices in the field of population ageing.

4. The phenomenon of an ageing population is one faced by many countries, including Singapore. Today, it is my pleasure to share Singapore's experience in this area. Over the past 3-4 years, we have made some headway in addressing the challenges and opportunities posed by population ageing and I am pleased to say that many of our policies and initiatives are in line with the principles set out in the Plan.

Demographics and Challenges

5. Singapore's population will age rapidly over the next 30 years. Today, about 7% of our population are aged 65 and above. By the year 2030, this will increase to 19%. This trend poses tremendous challenges and opportunities for our society, from its impact on our national productivity and healthcare budget, to issues of personal financial security, family support for older members, as well as how to enable our citizens to age actively and gracefully.

The Inter-Ministerial Committee on the Ageing Population

6. Since the 1980s, the Singapore government has set up a number of high level advisory councils to study issues related to ageing. In 1998, a standing Inter-Ministerial Committee on the Ageing Population was formed. This Committee comprises key ministers and senior officials from various agencies as well as representatives from the private and people sectors. The Committee formulated a holistic national policy framework to prepare for an ageing population, addressing areas such as social integration, financial security, employment, healthcare, housing and intergenerational cohesion.

Singapore's Philosophy and Approach

7. Singapore's approach in addressing the issues of our ageing society is based on the following principles:

- First, the social integration of older Singaporeans. Our senior citizens should be valued as contributing members of society. Our policies must enable them to remain with their families, and in the community for as long as possible, and to cater to all groups of elderly - the frail, the ill as well as those who are well and healthy.

- Second, caring for the aged is a collective responsibility. We call this the 'Many Helping Hands' approach. Every individual has a personal responsibility to plan and prepare for his or her old age. The role of the family and the community is to provide the first and second line of support for those who need care and support. The role of the State is to set out the policy framework, provide the infrastructure and resources necessary for the other sectors to play their part.

- Third, our policies must be sustainable. The financial impact of aged care can be severe. We have to implement policies and programmes in a cost-effective manner and ensure their financial sustainability.

8. Our policies revolve around providing four essential elements for our people to age successfully. Let me use four Chinese expressions to summarise these elements, before elaborating on each.

First Lao Ben - this means savings or financial security.

Second Lao Jian - this means good health.

Third Lao Ban - this means spouse. However, in our context, this could also mean strong family support.

Fourth Lao You - this means good friends or a supportive social network.

Developments in Singapore

Financial Security (Lao Ben)

9. Having financial security, or Lao Ben, is an important factor determining every individual's independence and quality of life in old age. Since the 1950s, Singapore has implemented the `Central Provident Fund' system, a compulsory savings scheme, where each working citizen sets aside a portion of his/her monthly income for retirement needs. The system has been helpful in meeting our citizens' needs on home ownership and healthcare.

10. Recently, the Singapore government fine-tuned the Provident Fund scheme to give our citizens more flexibility in managing and getting better returns on their savings. Since 2001, individuals are allowed to invest a portion of their savings in retirement-related financial instruments. In addition, we have stepped up public education programmes to remind younger working adults about the need to plan their finances early and to provide them with the knowledge and skills to do so. We have also introduced a legal recourse for elderly parents to secure financial support from their children, particularly those who could afford to look after them, but are not doing so.

11. Closely related to financial security is the employability of older persons: Continued employment enhances financial security, particularly for less educated, lower income workers. We have set up employment centres at the community level to help older job-seekers. These centres provide training, counselling and job placement to facilitate the employment of older persons. We hope these measures will help strengthen the older person's level of lao ben, or financial security.

Health (Lao Jian)

12. Good health (Lao Jian) is an important element to ensure successful ageing. Our aim is for our seniors to have many healthy years to enjoy their third age. As such, Singapore emphasizes and invests considerable resources in health promotion and disease prevention. We have a dedicated statutory board - the Health Promotion Board, that promotes healthy lifestyle, health at the workplace, and health screening for early detection of diseases. Singapore has also introduced a community health screening programme for seniors. Senior citizens are invited for subsidized health screening and encouraged to visit a doctor should there be any health problems.

13. Notwithstanding, we recognise that some of our aged will still fall ill and healthcare cost is a key concern for many. To ensure that healthcare is kept affordable for Singaporeans, we have put in place health financing schemes to ensure that Singaporeans can pay for their medical expenses. These schemes are a combination of personal savings, insurance schemes and a safety net for the low income. For step-down care, we have recently set up an endowment fund which currently stands at S$750 million. Interest from this fund is used to subsidise Nursing Home Care, community-based Day Rehabilitation and Home Medical Services. We will also introduce a national disability insurance scheme in the latter half of this year. This insurance scheme will be an opt-out system and pay-outs from the scheme will cover institutional care as well as community-based care for older persons with disabilities. These measures help families and individuals defray the cost of long term care.

Family and social support Lao Ban and Lao You)

14. One of our desired outcomes is for our seniors to age in place - that is they can continue to live in their homes and in the community for as long as they would like to, surrounded by their family and friends, i.e., Lao Ban and Lao You. To facilitate this, Singapore has invested in developing elder-friendly public infrastructure and housing as well as community based support services.

15. The vast majority of Singaporeans live in high-rise public housing. Our earlier public flats were designed with a more youthful population in mind. These are being progressively upgraded as our population becomes older. Since 2000, wherever feasible, lifts in older apartment blocks have been upgraded to stop on every floor. Homeowners are also given the option of installing elder-friendly features such as non-slip tiles and grab bars.

16. In addition, we are now developing a wider range of housing options for older Singaporeans. One example is the Studio Apartment Scheme. These apartments are purpose built for older people and have elder-friendly features (e.g. non-slip bathroom tiles, grab-bars, etc.) in every residential unit. These smaller apartments provide an avenue for our seniors to sell their bigger flats and downsize, hence enhancing their cash assets which will strengthen their financial security.

17. The Singapore government has also implemented a number of housing schemes to encourage married couples to stay with or near their parents and/or grandparents. An applicant who purchases a flat under this scheme would benefit from having to pay a lower commitment deposit and would also be given priority in the selection of his apartment. Income tax relief is also provided for married couples who support and live with their parents or grandparents.

18. The Singapore government continues to work with the voluntary sector to develop a broader base of community services to support families in caring for their aged members. These services include day care and home help services, gero-counselling, respite services and case management services. The objective is to enable older Singaporeans to continue living in their homes and communities for as long as possible, instead of going to an institution.

19 At the same time, we are also creating more avenues for older Singaporeans to find meaningful roles in the community. Our seniors are a valuable resource and opportunities should be created to tap on their wisdom, talent and energy. Examples of such programmes include mutual help, befriending, and a senior volunteer movement. There is also a wide network of Senior Citizens' Clubs and Retirees' Clubs that organise a wide range of cultural, educational, sports and recreational activities to help keep our seniors active and healthy.

20. Our senior citizens had worked hard and contributed to our nation building process. As such, we set aside a special week each year, called the Senior Citizens' Week, to celebrate and recognise their contributions. We have also designated a Grandparents' Day, which is a day within Senior Citizens' Week, to recognise the important role that grandparents play in the family.

Conclusion

21. Singapore is an urban society, plugged into the global economy and culture. Going forward, we want to build a society where every Singaporean matters, regardless of age. We wish to challenge the stereotypical view of an elderly person, characterised as poor, frail, and socially disengaged.

22. Singapore will mature as a society. Our social landscape will be shaped by the ageing population. We recognise that an ageing population presents not only challenges but also profound opportunities to enrich our society. The Singapore government is committed to ensure that we enable Singaporeans to age successfully, with dignity and grace. We believe that we have much to learn from other countries in this respect and are more than happy to share our experiences to make successful ageing a global phenomena.

23. I look forward to the many fruitful exchanges over the next few days. Thank you.