| |
| |
| |
Centre for Policy on Ageing | |
 | |
|
| Funding long term care in Singapore | | Author(s) | Emiliano A Valdez, Khye Chong Tan, Yoke Wai Wong |
| Journal title | Hallym International Journal of Aging, vol 2, no 1, 2000 |
| Pages | pp 70-84 |
| Keywords | Organisation of care ; Services ; Health services ; Long term ; Finance [care] ; Singapore. |
| Annotation | In Singapore, the government places the duty and burden of direct care onto immediate families, so that long-term care is therefore rarely sought. However, the country is expected to experience slower economic growth in the future; and as the population ages, an increasing number of families will begin to realise the financial benefits of providing formal long-term care for older people. The authors use a traditional actuarial framework to assess the cost of long-term care for Singaporeans. Their estimates reveal that the cost of care can vary widely, ranging from 2% to 40% of salary, depending on gender and the age at which the individual begins to set aside contributions to pay for long-term care. The authors discuss the appropriateness and implications of tapping into Singapore's existing compulsory savings programme - the Central Provident Fund (CPF) - which they believe is the most efficient and equitable method of financing long-term care. Although the actuarial methodology used to assess cost is applied in a Singapore setting, it is universal enough to be applied by any other country that may wish to assess its own cost of long-term care. (RH). |
| Accession Number | CPA-020125224 A |
| Classmark | P: I: L: 4Q: QC: 7XD |
Data © Centre for Policy on Ageing |
|
| ...from the Ageinfo database published by Centre for Policy on Ageing. |
| |
|
|