The worst is Now!
The oldies of today that are in a desperate position are those in the 60s and above. I called this the lost generation for many do not have a proper education to live a reasonable life and have no savings. Many are illiterate and penniless and homeless. The older ones may have migrated here and slogged through their lives as coolies or odd job labourers. With them around, maybe another 10 or 20 years, their problems will be most felt by the society. We will see glimpses of them trying to manage their old age, trying out anything that people suggested, sometime doing foolish things. Or they would just sit by the void decks or anywhere watching the days that go by. The interesting thing is that the problem is not critical. The situation is bearable. Where is the need for panic? And it is also too late for this group to start saving. After this lost generation have departed, the next batch is the baby boomers. Many are very well off. And many would have some education and a flat, and CPF. The situation of this group is much better than the lost generation. At least they know how to take care of themselves. There will be exceptions. A certain group will still fall into the category of destitute. If the lost generation did not pose such a big problem, why should we panic for this generation and the next few generations that are very much better off? What is the statistics to prove that all these useless oldies will be a burden to themselves and to the state? And the state is growing richer and richer and would not have serious financial problems to take care of a small minority of oldies that have no where to turn to. Don't tell the people that the state cannot afford to look after a small group of remnants that needed help at their last few years of life? What is the number? There may be 200k of oldies above 80. But how many will need charity?