Recommendations call for reviews and efficient use of resources in the Age Well SG initiative.
A parliamentary committee has urged the Singapore government to exercise caution in its spending as it ramps up initiatives to support the nation’s ageing population. In its report presented to Parliament on November 4, the Estimates Committee, which evaluates government expenditure, recommended that the authorities review the initiatives under the Age Well SG programme to minimize duplication and ensure cost-effectiveness.
The Age Well SG programme, which has been allocated $3.5 billion, aims to assist senior citizens in living independently at home and within their communities. With an estimated 100,000 seniors potentially facing disabilities by 2030, the committee emphasized the importance of focusing on preventive measures to help seniors maintain good health for longer.
The committee also recommended that the government make its action plans for ageing available every five years to ensure timely and relevant responses to the growing challenges posed by an ageing population.
Additionally, the committee reviewed the financial management and governance of statutory boards, urging the government to ensure the sustainability of their financing amid rising spending forecasts. The Ministry of Finance (MOF) provided updates on the surpluses of statutory boards, including JTC Corporation, the Tote Board, and the Central Provident Fund Board, and stressed the importance of regular reviews.
Regarding artificial intelligence (AI), the committee acknowledged the government’s plans to develop an additional 10,000 AI practitioners, including mid-career switchers, although progress in this area has been slower than expected. Despite this, the committee expressed support for Singapore’s commitment to preparing for the future of AI.
