BT - Singapore’s old-age support ratio nearly halves in 10 years, but foreign workforce provides buffer: MOM

[toolbox03]

https://www.businesstimes.com.sg/si...-years-foreign-workforce-provides-buffer-mom?

Annual data on the old-age support ratio, with and without foreign workers, was revealed for the first time in MOM’s latest Labour Force in Singapore Advance Release, which also included statistics on income, employment and unemployment.

Without the foreign workforce, the burden of supporting the elderly – in the form of higher taxes – would fall mainly on the resident workforce, Ang Boon Heng, director of manpower research and statistics, MOM, said at a separate briefing.

He added that MOM’s focus is on bringing in “quality foreign workers” who can complement the local workforce, rather than replacing it.

 

[mryang]

Summary....

 

[MynameisS]

Summary....

FT important no one else can help ah Ma or Ah gong

 

[satkimania]

Just buy tesla robots la

 

[PaboJames]

Think need to send the writer for urine test.... Think high on something

 

[mryang]

https://www.businesstimes.com.sg/si...-years-foreign-workforce-provides-buffer-mom?

Annual data on the old-age support ratio, with and without foreign workers, was revealed for the first time in MOM’s latest Labour Force in Singapore Advance Release, which also included statistics on income, employment and unemployment.

Without the foreign workforce, the burden of supporting the elderly – in the form of higher taxes – would fall mainly on the resident workforce, Ang Boon Heng, director of manpower research and statistics, MOM, said at a separate briefing.

He added that MOM’s focus is on bringing in “quality foreign workers” who can complement the local workforce, rather than replacing it.

Here are the inconsistent, flawed, ambiguous, and data discrepant points highlighted:

_Inconsistencies_

1. _Inconsistent real income growth_: The article states that real incomes rebounded in 2024, but also mentions that real wage growth for the last 5 years is still low. This inconsistency raises questions about the sustainability of real income growth.

Original text: "Singapore's real incomes rebounded in 2024... However, real wage growth for the last 5 years is still low."

_Flaws_

1. _Lack of data on real income growth_: The article doesn't provide specific data on real income growth in 2024, making it difficult to assess the magnitude of the rebound.

Original text: "Singapore's real incomes rebounded in 2024..."
1. _Failure to account for income inequality_: The article focuses on average real income growth, but doesn't consider the impact of income inequality on real income growth.

Original text: "Singapore's real incomes rebounded in 2024..."

_Ambiguities_

1. _Unclear definition of "real incomes"_: The article doesn't explicitly define what is meant by "real incomes" or how it's calculated.

Original text: "Singapore's real incomes rebounded in 2024..."
1. _Lack of context on inflation rate_: The article mentions that inflation is easing, but doesn't provide specific numbers or context to support this claim.

Original text: "as inflation eases"

_Data Discrepancies_

1. _Inconsistent data on real wage growth_: The article mentions that real wage growth for the last 5 years is still low, but doesn't provide specific data or sources to support this claim.

Original text: "However, real wage growth for the last 5 years is still low."
1. _Lack of data on income distribution_: The article doesn't provide data on income distribution, making it difficult to assess the impact of real income growth on different segments of the population.

Original text: "Singapore's real incomes rebounded in 2024..."

 

[dambio]

Then can I ask do they pay d same taxes as local born citizens? They Oni pay income tax n gst if they work n spend here, no?

While we pay all sorts of other taxes.

 

[lifeafter41]

So without FTs
GST 20%, service charge 20%?

 

[Medicated Oil]

He added that MOM’s focus is on bringing in “quality foreign workers” who can complement the local workforce, rather than replacing it.

Their definition of quality should be very very high.

 

[miko66]

He added that MOM’s focus is on bringing in “quality foreign workers” who can complement the local workforce, rather than replacing it.

Their definition of quality should be very very high.

LoL

More like a DPX

 

[Stroganoff]

I thought cpf is help old people to retire?

Gst to help the poor.

SF is to help people continue to work?

SO What is what now?

 

[stingray1211]

I thought cpf is help old people to retire?
Gst to help the poor.
SF is to help people continue to work?
SO What is what now?

sinkies don't want to do the low level jobs like cleaners , construction workers , service staff at shops, waiters ,maids, etc.

please lah , we need FWers for such roles for sure.

you want your family to be garbage collectors? maids to other sinkies ?

in life , as long as you are average and above , won't be that bad off one.

but if you beh Kan type , everything also fail , then socially can't communicate.. actually nothing can help you succeed.

best bet is play crypto to become a millionaire.


Read HWZ Forum Rules!

 

[RinoaX]

Summary....

Fear mongering.

Vote them out.

 

[Suporter]

Tokcoksingsong again...

 

[dambio]

He added that MOM’s focus is on bringing in “quality foreign workers” who can complement the local workforce, rather than replacing it.

Their definition of quality should be very very high.

Wow...it's a major downgrade from d term talents they like to use.

As usual use d word workers n skip pmets

 

[wwenze]

He added that MOM’s focus is on bringing in “quality foreign workers” who can complement the local workforce, rather than replacing it.

This part is true and I have proof:

When NUS graduated at 25yo they earn 4.xx k

But MOM is bringing in 25yo that earn 6k

 

[kitaeshi]

ownself approve many ft into pr and citizen n now saying this bs thing.

 

[ghregular]

are they croaking some figures they think we stupiak wont understand?

ok let me put it simply - getting ft to solve population problem is the world's no.1 easiest solution. how i know? because many countries are using this stupid method.

then do i hv a solutuon?
ofc i hv.
but then the ones paid bladi million shldnt just croak But bladi go and crack your numbskull how to do it..phuckers!!

 

[pwongkk]

Wow...it's a major downgrade from d term talents they like to use.

As usual use d work workers n skip pmets

Trying to blend them in as bangalas.

Have seen through their tactics and tricks to hide.

 

[dambio]

This part is true and I have proof:

When NUS graduated at 25yo they earn 4.xx k

But MOM is bringing in 25yo that earn 6k

They(foreigners) no need serve ns got headstart n able to get more exp under their belt over locals.

Tot they r cheaper?