SINGAPORE — Former GIC chief economist opines that an additional $500-$600 payout from the Silver Support Scheme (SSS) is needed for a dignified retirement for Singapore’s poor elderly pioneers.
This proposed additional payout is on top of the $200-300 monthly means-tested payout by SSS and current levels of discretionary support from ComCare offered by the Ministry of Social and Family Development.
Mr Yeoh Lam Keong who had served in the Singapore sovereign wealth fund for 26 years, made this comment on his Facebook page in response to an Instagram video post made by Singaporean activist Gilbert Goh.
Mr Goh’s post shows an elderly lady sharing how the $600 monthly payout from the government is insufficient to pay for rent, utilities and food.
According to Mr Goh’s post on Sunday, the elderly lady was struggling to climb down the stairs to receive the last food pack that they were handing out at Jalan Kukoh before a volunteer rushed to help her down.
According to the video in the Instagram post, the elderly lady shared that she is now staying alone at a rental flat after her flatmate died from a heart attack — It is a requirement for the one-room rental flats to house two individuals even if they are total strangers.
She also shared that a doctor told her that her legs do not have strength because she is malnourished.
Mr Yeoh cited Mr Goh’s Instagram post as “clear anecdotal evidence” as to how – in his opinion – Singapore’s social safety net for its elderly poor is inadequate.
He said that the additional $500-$600 automatic cash payout from SSS will provide the dignity and assurance of automatic support together with the flexibility to really make sure no one falls between the gaps or has to constantly jump through bureaucratic hoops to get basic needs met.
According to Mr Yeoh, this increase in spending is eminently affordable at around $700-$800 million a year, a small fraction of the $3.5 billion raised by the 2 per cent Goods & Service Tax (GST) increase which would take place via two 1 per cent hikes in 2023 and 2024.
“These are our elderly pioneers that have helped build modern Singapore with their blood, sweat and tears. For the first half of their working lives they earned low to middle-income country wages and for the second half had their wages dampened due to our misguided policy of excess immigration between 1990-2010.” said Mr Yeoh.
He further added that demographically, the number of such pioneers who have fallen by the wayside, could double or treble from around 30,000 currently to 100,000 over the next decades.
“If we truly are a caring and inclusive society where “ no one is left behind “, surely such an increase in the SSS is putting our money where now only our mouth seems to be.” said Mr Yeoh.
Number Of People Who Eat Left-Over Food On The Rise
Chinese media, 8world reported earlier this month that at least seven elderly individuals were seen eating leftover food in Chinatown and that authorities are looking to identify them to provide assistance.
Mr Goh who has been handing out food to the less-fortunate over the past couple of years believes that there are now at least 100 leftover food consumers all over the island, mainly in areas populated by elderly folks.
Speaking to TOC, Mr Goh shared that the rising cost is indeed an issue for the seniors whom he gets in contact with.
Noting that prices have already hiked this year and that the increase in GST next year will further drive prices further up, worsening the situation for the poor elderlies in Singapore.
He agrees that many seniors do not seek help from authorities because – even if they are hungry – they do not want to be seen as begging and to have their dignity diminished.
Those who wish to contribute to Mr Goh’s work can contact him via his Instagram profile or his email, [email protected].
What A Senior Over The Age Of 65 Can Get And Is It Enough?
To be eligible for Silver Support, one must be a Singapore citizen aged 65 and above, and must meet all of the following criteria:
- Contributed not more than $140,000 to CPF by age 55. If self-employed, earned not more than $27,600 between ages 45 and 54.
- Live in a 5-room or smaller HDB flat.
- The senior and spouse do not own a 5-room or larger HDB flat, private property, or multiple properties.
- The household earns not more than $1,800 per person.
All Singaporeans aged 65 and above will be automatically assessed for their eligibility to receive Silver Support payouts.
Eligibility for Silver Support will be assessed automatically on an annual basis.
Those who are 65 and above can also apply for ComCare Long-term assistance scheme which provides a Silver Support payout of $360 per quarter, regardless of their flat type.
If one is qualified to receive assistance for ComCare, one will get a monthly payout of $640 for primary tier assistance.
However, the application process and qualification criteria for ComCare may be seen as daunting for the elderly, especially for the volume of documents required.
If we were to assume the elderly lady is receiving all three forms of cash assistance from ComCare and SSS as a person living alone, the monthly amount that she could possibly get is $640 plus $120 (quarterly payout of $360) plus $300 (quarterly payout of $900) which gives us a sum of $1,060.
A study in 2019 by the Lee Kuan Yew School of Public Policy (LKYSPP) found that Singapore seniors each need at least $1,379 monthly to meet basic needs.
The study got 100 members of the public to participate in a discussion to come to a consensus on setting a baseline below which no one in Singapore society should fall.
The participants articulated strongly and consistently that basic needs must go beyond merely surviving — basic needs should enable “quality of life”. They emphasised the importance of independence and autonomy; this means not being a burden to loved ones, and being able to exercise one’s preferences and choices.
They also emphasised that humans are social beings, and basic needs must entail social participation and connection to others.
If the elderly lady was indeed getting $1,060 a month from the government, it would still fall short of the $1,379 monthly amount as stated by the LKYSPP study.
Given that the amount of $1,379 was set in 2019. Prices of basic goods and services have raised significantly over the past couple of years and would be set to increase further with the hike in GST.
A $500-$600 increase in payout as suggested by Mr Yeoh would bring the assumed sum received by the elderly to $1,560-$1,660.
