Set up 'Silver Industry Fund'

The ageing population has a severe impact on the future of Singapore.

Currently, about 10 per cent of our population is aged 65 and older. This figure is growing rapidly and is projected to reach about 25 per cent by 2030.

The stark reality is that we need to plan and provide for more products and services for the elderly than we have now, and the demand for these is getting urgent.

Another concern is elderly unemployment.

We, the elderly, want to work longer to grow our retirement funds and become less of a burden to our children. Most of us are still healthy and fit enough to work, but we cannot find employment.

I suggest setting up a "Silver Industry Fund" that we can invest in. It can be used to start businesses that provide products and services to the elderly, and these companies can employ suitably qualified seniors.

It is a self-help measure that provides immediate investment and employment opportunities for the elderly, as well as products and services for them. Who knows our needs better than ourselves? Who cares about our needs more than ourselves?

The elderly unemployment issue is real and will become more serious. We must do something before we become "pythons" squeezing our children ("Generation Python squeezing its young"; Nov 1).

Loh Wai Poon, Reader

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