The issue that i will discuss will be the widening of income gap in Singapore.
Singaporeans now live longer and since there are not enough babies being born every year, it is expected that the country is to be littered with way more elderly than the young in years to come.
Many of those who are poor are likely to be elderly. This problem probably derives from the fact that they do not provide enough for old age/retirement. Also, they tend to retire early.
Hence, what the government suggests is to provide more job opportunities for the older generation.
I think this is a good way to combat the widening income gap in the country. Though the income of these elderly may not be that high, i am positive that it would make a difference in the income gap in Singapore.
The best way according to the PM, to have enough savings during old age is to stay employed and work longer. Personally, i think that its probably the most effective way to ensure that you are able to support yourself throughout your retirement years.
In order for them to work longer, they should upgrade themselves education wise by going for courses or workshops that is relevant to their job scope. Also, they should learn to accept lower wages so as to make way for newer and younger workers to earn a living. In my opinion, they can also opt for a part-time job if they find a full-time job to be too taxing. Since, they would probably have saved quite an amount of money from their previous job, they would not be needing to earn a huge sum of money at this age. Hence, a part-time job would be sufficient.
Nurul Sakinah.
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