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The World's and Singapore's Aging Population Demographics

The World's and Singapore's Aging Population Demographics
Changing Demographics of an Aging Population

In the last few decades, life expectancy in most countries, particularly in the industrialized nations has increased consistently.

In the United States the proportion of people aged 65 or older increased from 4% in 1900 to about 12% in 2000. Population experts estimate that by 2020, it is likely that more than 17% of the country's population which is 50 million Americans will be 65 or older in 2020. Based on the United States Census data and estimates, there will be a potential spike in the above 60 years age group in the population of 71% from 2005 to 2020.

The number of elderly in the population is growing around the world mainly due to the twin effects of the Post World War II baby boom and the fall in mortality rates due to rising standards of health care.

In Singapore's case, our baby boomer peak generation is in the 45-54 age groups as shown in the chart. Combined with Singaporean's average life expectancy of 82 years old, what this means is that within the next 10 years this large group of "baby boomers" will lead to a more than significant increase in the proportion of Singaporean over the age of 65.

Chart of Singapore's Population Distribution by Age Groups:

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