Yes, S'poreans are living longer

3 February 2008
By Keith Lin

BY HIS own estimation, 50-year-old Chua Seng Kee has always expected to live till the age of 70.
'That's if nothing goes wrong,' the security officer hastens to add.
So he was pleasantly surprised when The Straits Times told him that having made it to 50, he stands a good chance of crossing the 80-year mark.
New life expectancy data from the Department of Statistics say Mr Chua can expect to live for another 29.5 years.
'I've always wondered what it's like to be a great-grandpa,' said the father of a 13-year-old girl and an 11-year-old boy with a laugh. 'Maybe I'll get the chance to find out!'
Singapore's life expectancy for men and women of older ages have also improved. For Mr Chua, that means his 75-year-old mother is looking at another dozen years.
Said Mr Chua, whose mother is supported financially by his elder brother: 'She has devoted so much time to taking care of my children, so I hope they get a chance to look after her when she grows old.'
The life expectancy of Singaporeans has changed over the decades. Babies born in 1963 could expect to live to age 63, according to the Department of Statistics. But today, the latest figures available indicate that life expectancy is 78 years for boys and 82.8 years for girls.
This compares favourably with other developed countries in Asia and beyond.
For instance, boys born in South Korea today can expect to live to age 75, and girls to around 82, while in the United States the current life expectancy is 75.2 for baby boys and 80.4 for girls.
Living longer is not all plain sailing, and that is something Mr Chua appreciates.
He earns around $1,700 a month and intends soldiering on in his current job until he is 70 if all goes well.
The slim-built man dismisses the notion that full-time work in later years is a back-breaking prospect.
'I think I can still take it, because I get to exercise almost every day at work,' said Mr Chua, who patrols the Enterprise Hub industrial park at Toh Guan Road East daily on a bicycle.
To cope with the additional living and medical expenses that will come with living longer, he is prepared to scrap dreams of seeing places like South Korea and Japan for vacations. South-east Asian destinations will do.
He welcomes the new CPF Life scheme and wants to take up a plan that will start offering payouts at age 70 so he can continue having a steady income stream even when he stops working regularly.
'As long as I continue to spend my money wisely and not splurge on unnecessary items, I'll be fine,' he said.

klin@sph.com.sg

For the Sec 3s, we just finished the topic on ageing population. Read this article and ask yourself why ageing population is a concern for the nation. How soon do you need to start planning for retirement? How much is enough for your retirement? Are you healthy enough to enjoy your retirement?