From welfare to funeral services: Seniors in Singapore who live alone get help

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SINGAPORE - Singapore Casket, one of Singapore's oldest and largest funeral services companies, has been assisting in more funerals for seniors who died alone, this year, it said.

For the first eight months of 2021, it has held 36 such funerals, which is more than half of the 47 cases they handled in 2020.

They had 38 such funerals in 2019.

Last Saturday, the decaying remains of an elderly woman, 74, were found in her Bedok North Avenue 2 flat. She had not been seen for over a week, and neighbours detected a rotting smell.

Last December, The Straits Times reported the police had appealed for the next-of-kin to claim the bodies of about 48 people in 2020, through notices posted on their website.

Most of them were above 60 years old, and they died in places like hospitals, welfare homes for the destitute and in their own homes.

And according to the police's website, for the first eight months of this year, the police put up 26 notices appealing for the next of kin of seniors above 61 years old.

Most of them died in places like hospitals and nursing homes.

Singapore Casket's assistant general manager, Mr Calvin Tang, said cases of the elderly dying alone are unpredictable. The company might receive one to two cases one month and eight to 10 the next month.

Mr Tang added that it is usually alerted via hospitals, social workers, religious organisations and senior activity centres. They will then provide free funeral services if the deceased had financial difficulties.

He said: "We will not check their background because we truly believe people will not cheat us in such matters. As long as we know they need help, we will definitely help them. It is our way of contributing to society."

Direct Funeral Services' founder, Mr Roland Tay, said it handles about 20 to 30 of such cases each year and is usually informed by social workers or a relative of the elderly.

Ms Yvonne Ho, general manager of After Life Funeral Service, said of the total number of elderly funerals they handle each year, 10 to 20 per cent of them were seniors without relatives or friends.

Eldercare service providers usually rely on befriending services and regular check-ins to access seniors.

With Covid-19, they now use technology more. Alexandra Hospital's Temi, the robot which visits non-ambulatory elders in Queenstown, is one example.

Another is i-Ok @ Lb, a programme piloted by Lions Befrienders, a charity that provides eldercare support, this year. It equips seniors with a special tablet to update service providers of their conditions daily. Service providers would check on them if the button was not pressed after a stipulated period of time.

It hopes to equip 300 seniors with this tablet by December.

But there are challenges.

Senior consultant Santhosh Kumar Seetharaman, head of the Healthy Ageing Programme at Alexandra Hospital, said the problem for such technology is not access but instead, delivery.

He said: "Although we can make technology available, the uptake will depend on the seniors' restrictions, support with technology and acceptance." 

 

As befrienders can visit seniors only once or twice a week, social services agencies believe other stakeholders must step in to ensure seniors are cared for daily.

Dr Angie Chew, CEO of Brahms Centre, a charity that provides mindfulness programmes alongside eldercare programmes, believes a strong neighbourly community can provide this daily support for age-in-place seniors.

She said: "Everyone can be involved in being neighbourly, looking out and caring for each other. We need to learn to be comfortable in being sociable." 

Madam Yap Lian Hua, 78, lives alone in a three-room flat in Jalan Bukit Ho Swee and says she is not worried as she has strong support from social service agencies which check on her weekly.

She said: "I've lived here for 50 years and my neighbours say 'hello' to me daily."

Madam Teow Swee Cheow, 89, a Lions Befrienders volunteer, knows of seniors dying alone from accidents.

She said: "Sometimes you can just go to the toilet at night, then you slip and fall and have the neighbour find you the next day."

Ms Grace Lee, executive director of Sage Counselling Centre, said: "I heard of a senior who would rather sit at the void deck (before Covid-19) than to be at home so that if he fell ill, someone would be around to help him."

Managing director of Ang Chin Moh Funeral Directors, Mr Ang Ziqian, said especially for those who have few or no family connections, they should plan their funerals.

He said: "It is everyone's responsibility to plan our own funeral because our funeral is our own responsibility. It is only when you plan it now that you are able to live well and leave well."

Source: https://www.straitstimes.com/singapore/community/from-welfare-to-funeral-services-seniors-in-singapore-who-live-alone-get-help 

 

Use S'pore's Census 2020 to plan your own retirement

Getting a peek at growing trends, such as the aging population, should signal how older folk will need more help

HDB flats in Punggol, with yachts and boats berthed at Marina Country Club. The census noted that about 78.7 per cent of households here live in an HDB flat. However, not all HDB flats are equal, says the writer. Some are more valuable due to location and you have the option to sell and downgrade to a cheaper one if you find yourself short of cash in old age. ST PHOTO: LIM YAOHUI

The latest Census of Population has not only uncovered new trends that policymakers will need to address, but also served as a timely reminder that we all need to take stock of how we should run our households.

Some of the statistics, especially on our ageing population, may seem distant if you are young and at the peak of your career. But you should take the once-in-a-decade survey as a peek into the future because if such trends persist, the findings related to senior citizens will apply to you too one day.

So you would do well to see how you can put in place longer-term financial planning strategies that will help you age gracefully and comfortably. Here are three census findings that you should heed.

Property ownership

If you have moved to a condominium in the past decade, congratulations for acquiring the most difficult of the "5Cs" and for increasing private apartment ownership from 11.5 per cent to 16 per cent of the 1.37 million resident households here.

But being a fairly new condominium owner, chances are you still have many years ahead before you pay off your home loan.

When it comes to paying your mortgage, watch your budget so that you can continue to save and plan for your retirement.

For instance, you should use cash as much as possible to pay the loan instead of relying on your Central Provident Fund (CPF) because the 2.5 per cent interest of the Ordinary Account is much higher than the prevailing mortgage interest of about 1 per cent.

In short, it makes no sense using the more valuable CPF to pay off a cheaper loan.

If you deplete this retirement kitty, you risk being an asset-rich and cash poor owner in old age.

A couple living in a private home who still own their Housing Board flat, which generates $2,100 a month in rent, recently wrote to say that they intend to sell the $600,000 flat.

This is because maintaining more than one property is leaving them with low retirement sums in their CPF. Selling the flat will allow them to use part of the proceeds to top up their CPF Life to the prevailing enhanced retirement sum that pays over $2,000 a month from 65.

So the couple stand to receive over $4,000 a month, or double the current rental income. Another big plus is that they no longer have to worry about paying taxes and repair costs for the flat as well as the hassle of finding good tenants.

If you also find yourself in the same asset-rich but low retirement sum scenario, meet CPF Board officials to discuss whether you can enjoy higher CPF Life payouts or whether you should continue to hold on to your investment properties and earn rental income.

What if you have only one home and that's your HDB flat - about 78.7 per cent of households here live in one, the census noted. Around 30 per cent of this group live in four-room units, making them the most common type of home over the past decade.

Not all HDB flats are equal - some are more valuable due to location and you have the option to sell and downgrade to a cheaper one if you find yourself short of cash in old age.

But if you like your neighbourhood and don't want to move, there is another option - sell part of your lease back to the HDB and then increase your CPF Life monthly payout. This allows you to keep living in your flat while having more money to spend every month, for life.

More elderly Singaporeans

That there are more people aged 65 and above here should not surprise you because you can see silver-haired folk regularly the moment you step out.

To put it even more starkly: Around 33 per cent of all households have at least one family member aged 65 or more.

What is even more worrying is that the number of seniors living alone has more than doubled in the past decade, from 27,900 in 2010 to 63,800 last year.

The census also revealed that nearly 98,000, or 2.5 per cent of residents aged five and above, were unable to carry out or struggled with at least one basic activity, which includes seeing, hearing, walking, concentrating, dressing or communicating. Most of those suffering from such conditions are aged 65 and above.

As the population ages, the burden falls on many of us as we must factor in the additional expenses of taking care of our elderly parents.

Many underestimate their needs for retirement, including seniors who used to earn decent salaries themselves. For instance, you may think it is enough to go on $3,000 a month at 65 and since you have $700,000 saved up, that's more than enough to last you through 85.

Chances are folk who think this way have not factored in other kinds of expenses, such as healthcare costs and medical insurance, which will be hefty as they age.

Last year, an HSBC poll noted that about 50 per cent of Singapore workers said their parents had difficulty coping with retirement due to insufficient savings. These include parents of families with high-income earners.

The survey also found that most of those earning under $40,000 annually could not afford to pay for most of their parents' needs because they have to take care of their own families.

Not surprisingly, it is common to see folk in their 70s and 80s rejoining the workforce as menial workers today.

This part of the census should be a wake-up call for all families - it is critical to plan for lifelong income in old age by ensuring you have sufficient savings to join the CPF Life annuity scheme that guarantees stable monthly payouts from 65.

If you have elderly parents, it may be a stretch to ensure they too have adequate CPF Life payouts now without affecting your own family's retirement needs later.

But do consider putting them on CareShield Life at least, when the scheme, which is affordable, opens to those aged 41 and older soon. This scheme aims to provide at least $600 a month to those needing help to perform at least three of the basic essential tasks of life such as showering and walking so their families can consider paying for caregivers.

The census has given you a peek at possible future trends and you would do well to be ready for it before you join the greying population too.

Correction note: An earlier version of the story mentioned the benefit of claiming up to $7,000 worth of tax rebates annually for topping up the Special Account. The story has been corrected to say that the benefit should be to claim tax relief. 

Source: https://www.straitstimes.com/business/invest/use-spores-census-2020-to-plan-your-own-retirement dated 27 Juen 2021

Switzerland’s Time Bank

Switzerland’s Time Bank 

The number of “empty-nesters” is increasing and becoming a serious issue throughout the world. Switzerland’s idea of the “time bank” for the seniors may be a good inspiration. What is a time bank? Time-based units accumulate in the time bank and can be used to purchase time-based services from other individuals when needed. Switzerland, with its long traditions of alternative currencies, banking and social solidarity, is home to numerous time banking programs. A Chinese student studying in Switzerland made a statement based on his experience. I rented a house near the school during my stay in Switzerland. Christina, my landlord, was a 67-year-old lady who worked as a teacher in a school before she retired. Switzerland’s retirement plan makes her worry-free in her later years. However, it surprised me when I found out that she has a “job” which is to take care of an 87-year-old senior who lives alone. I wondered if she doing this for money. Her answer surprised me: “I am not doing this for money, I am doing this to earn my time in the time bank. When I’m getting older and having a hard time taking care of myself, I can withdraw the ‘saving’ and use it.” When I first heard about the concept of a time bank, I was so curious and asked Christina about it. The original “Time Bank” was a retirement project developed by the Swiss Federal Ministry of Social Insurance. They start to save time from taking care of the seniors when they are young, and then using it when they get old, sick, or need someone to take care of them. All applicants must be healthy, communicative and kind enough enable to spend some time taking care of the seniors who need help. The hours of service will be deposited in the personal account of the social security system. She has to take care of Lisa twice a week who lives alone and needs care services. She will spend two hours each time helping her to run some errands, cleaning, taking her out for a walk and chatting with her. According to the agreement, after one year of her service, the time bank will calculate her work hours and sending her a “time bank card”. When she needs someone to take care of her, she can withdraw the time that she has been saving at the time bank. After they verified, the time bank will assign a volunteer to the hospital or her home to for the service. There was a time when I got a phone call from Christina, she said she fell down while she was cleaning the window. I rushed back home and sent her to the hospital. After being examined by a doctor, Christina’s ankle cracked and needed to stay in bed for a while. Just as I was applying for days off to take care of her, she told me that I didn’t have to worry about her; she already filed in the application to withdraw her time from the bank. Within two hours, the time bank sent a volunteer to take care of her. Nowadays, “Time Bank” has become a common practice in Switzerland. It does not only save its country’s retirement expenses but also solves some other social issues. Many Swiss are very supportive of this type of senior care. According to the Swiss retirement agency survey, more than half of the young Swiss also want to participate. The Swiss government also specializes in legislation to support this “time bank” retirement system.

Source: https://www.caipa.com/community/latest-news/switzerlands-time-bank/ dated 21 June 2021 

To Fight Death or Embrace It

To go gently - or not - into that good night

Cancer patient's warrior metaphor victimises others

 

By Bill Keller

 

LISA Bonchek Adams has spent the past seven years in a fierce and very public cage fight with death.

Since a mammogram detected the first toxic seeds of cancer in her left breast when she was 37, she has blogged and tweeted copiously about her contest with the advancing disease. She has tweeted through morphine haze and radiation burn.

Even by contemporary standards of social media self-disclosure, she is a phenomenon. (Last week she logged her 165,000th tweet.) A rapt audience of several thousand follows her unsparing narrative of mastectomy, chemotherapy, radiation, biopsies and scans, pumps and drains and catheters, gruelling drug trials and grim side effects, along with her posts on how to tell the children, potshots at the breast cancer lobby in the United States, poetry and resolute calls to "persevere".

In the past month or two, her broadcasts have changed tone slightly; her optimism has become a little less unassailable.

As 2013 ended, the cancer that had colonised her lymph nodes, liver, lungs and bones had set up a beachhead in her spine, the pathway to her (so far tumour-free) brain. She was deemed too sick to qualify for the latest drug trial.

She is warded at New York's Memorial Sloan-Kettering Cancer Centre, which has embraced her as a research subject and proselytiser for the institution.

Ms Adams is still alive, still blogging, and insists she is not dying, but the blog has become less about prolonging her survival and more about managing her excruciating pain. Her poetry has become darker.

"The words of disease become words my brain gravitates to," she pecked the other day after a blast of radiation. "The ebb and flow of cancer, Of life. And so too, Inevitably, Of death."

In October 2012, I wrote about my father-in-law's death from cancer in a British hospital. There, more routinely than in the US, patients are offered the option of being unplugged from everything except painkillers and allowed to slip peacefully from life.

His death seemed to me a humane and honourable alternative to the frantic medical trench warfare that often makes an expensive misery of death in America.

Among doctors in the US there is a growing appreciation of palliative care that favours the quality of the remaining life rather than endless "heroic measures" that may or may not prolong life but assure the final days are clamorous, tense and painful. (And they often leave survivors bankrupt.)

What Britain and other countries know, and the US is learning, is that every cancer need not be Verdun, a war of attrition waged regardless of the cost or the casualties.

It seemed, and still does, that there is something enviable about going gently.

One intriguing lung cancer study even suggests that patients given early palliative care instead of the most aggressive chemotherapy not only have a better quality of life, but they actually live a bit longer.

When my wife, who had her own brush with cancer and who wrote about Ms Adams' case for The Guardian newspaper in Britian, introduced me to the cancer blog, my first thought was of my father-in-law's calm death.

Ms Adams' choice is in a sense the opposite. Her aim was to buy as much time as possible to watch her two children grow up. So she is all about heroic measures. She is constantly engaged in battlefield strategy with her medical team. There is always the prospect of another research trial to excite her hopes. She responds defiantly to any suggestion that the end is approaching.

"I am not on my deathbed," she told me in an e-mail from the hospital. "Periods of cancer progression and stability are part of the natural course of this disease. I will be tweeting about my life and diagnosis for some time to come," she predicted, and I hope she's right.

In any case, I cannot imagine Ms Adams reaching a point where resistance gives way to acceptance. That is entirely her choice, and deserving of our respect. But her decision to live her cancer onstage invites us to think about it, debate it, learn from it.

The first thing I would say is that her decision to treat her terminal disease as a military campaign has worked for her. Her relationship with the hospital provides her with intensive, premium medical care, including not just constant maintenance and aggressive treatment but also such Sloan-Kettering amenities as the Caring Canines programme, in which patients get a playful cuddle with visiting dogs.

(Neither Ms Adams nor Sloan- Kettering would tell me what all this costs or whether it is covered by insurance.)

Whether or not this excellent care has added months or years to her life, as she clearly believes, is a medical judgment, and her doctors, bound by privacy rules, won't say.

Most trials of new drugs aim to determine safety and calibrate dosages, and make no promise of slowing the disease in the participants.

But any reader can see that Ms Adams' online omnipresence has given her a sense of purpose, a measure of control in a tumultuous time, and the comfort of a loyal, protective online community. Social media has become a kind of self-medication.

Ms Adams' defiance has also been good for Memorial Sloan- Kettering. She has been an eager research subject, and those, I was surprised to learn, are in short supply.

Dr Scott Ramsey of the Fred Hutchinson Cancer Research Centre in Seattle cited a study showing that only 3 per cent of adult cancer patients who are eligible to enrol in clinical trials do so, and, he said, their reluctance has been "a huge bottleneck in cancer research". Some 40 per cent of clinical trials fail to get the minimum enrolment.

Ms Adams has been a cheerleader for cancer research in general and Memorial Sloan-Kettering in particular. In fact, she has implored followers to contribute to a research fund set up at the hospital in her name, and has raised about US$50,000 (S$64,000) so far.

"We love it!" Memorial Sloan-Kettering tweeted last week about the Lisa Adams phenomenon. "An important contribution to cancer patients, families, and clinicians! :)"

Beyond that, whether her campaign has been a public service is a more complicated question.

"I am public about this disease in order to shed light on the daily lives of women living with this diagnosis rather than hiding behind the pink party line that is the only one that gets the spotlight," she told me in an e-mail.

(The ubiquitous pink ribbon breast cancer campaigners have been faulted for overselling the wonders of early detection and giving short shrift to research.)

Her digital presence is no doubt a comfort to many of her followers. However, as cancer experts I consulted pointed out, Ms Adams is the standard bearer for an approach to cancer that honours the warrior, that may raise false hopes and that, implicitly, seems to peg patients like my father-in-law as failures.

Dr Steven Goodman, an associate dean of the Stanford University School of Medicine, cringes at the combat metaphor, because it suggests that those who choose not to spend their final days in battle, using every weapon in the high-tech medical arsenal, lack character or willpower.

"I'm the last person to second-guess what she did," Dr Goodman told me, after perusing Ms Adams' blog.

"I'm sure it has brought meaning, a deserved sense of accomplishment. But it shouldn't be unduly praised. Equal praise is due to those who accept an inevitable fate with grace and courage."

NEW YORK TIMES

Lots of room for improvement at 'retirement resort' at Bukit Timah (Comparisons made with other such developments in the West)

Published on Jan 12, 2014

 

Lots of room for improvement at 'retirement resort'

 

By Radha Basu, Senior Correspondent

 

Interest in Singapore's lukewarm property market heated up in the New Year as showflats of what is being billed as the first "retirement resort" opened for previews last weekend.

First off the block after a 20-year debate on whether Singapore should have retirement communities, The Hillford in Upper Bukit Timah comes with plenty of promise.

Developer World Class Land says the 281 units will have elder-friendly features such as emergency alarm systems in bedrooms and bathrooms linked to a 24-hour concierge service counter. A full-time "resort manager" will coordinate activities such as yoga and art or enrichment classes for residents.

It promises a staggering list of more than 30 recreational facilities and spaces, including swimming pools, a reading lounge, fitness corner, gym and theatrette. Residents will also have access to clinics, restaurants and an eldercare centre.

The development is likely to go on sale next weekend.

But before opening their chequebooks, older buyers must carefully consider the details about this project that may well be glossed over by the sharp-suited men and women hired to sell this golden retirement dream.

For starters, although The Hillford bills itself as "Singapore's first retirement resort", it has no age restrictions on ownership or occupancy. In Europe, Australia and the United States, most such developments tend to be restricted to seniors above a certain age.

Asked about this, the developer told The Sunday Times it would give potential buyers "flexibility" and it was "only natural - given our Asian context - for families to want to stay together".

Indeed, there are a small number of two-bedroom "dual key" units which will enable parents to live with their adult children.

Older folk like Ms Cecilia Ng, who is in her late 50s, say in that case, The Hillford should at least have had a provision for the majority of occupants to be seniors. "With no age bars, the very purpose of a retirement village is in danger of being compromised," said the retired school principal, who has visited an age-restricted community for seniors in the US.

Retirement housing remains a niche development overseas, with only 10 per cent to 15 per cent of older adults interested in living in them. Residents tend to be single or widowed, or to not have or to not want their children to live with them.

So it could be argued that the real reason there is no age restriction at The Hillford is to enable the developer to sell units as fast as possible and offset what have been seen as early sticking points: the price of the units and the fact that the development has a 60-year lease. Other private properties here are freehold or come with a 99-year lease.

Current prices start at $388,000 for a one-bedroom 398 sq ft unit, which, given the limited lease period, is considered steep by many retirees.

But young buyers, some of whom have been priced out of the condo market after curbs on shoebox units, may find the price attractive and buy a unit, given its rental and investment potential and proximity to good schools. Indeed, potential buyers in their early 30s with young children in tow have appeared on national television extolling the virtues of having good schools nearby.

A second issue is that there is no guarantee that all the senior-friendly services being advertised now will indeed see the light of day.

In the West and in Australia, retirement villages are often operated by aged care companies. The Hillford is being built by a property developer, albeit with input from an experienced Australian retirement housing expert.

Traditionally, aged care companies have care staff who work with residents long-term to meet their evolving physical and emotional needs. Some of these companies even buy back units or help heirs to sell them when the resident dies.

Property developers, on the other hand, tend to build, sell and get out. So as with any other condominium in Singapore, The Hillford's management will eventually be handed over to a management corporation strata title (MCST) committee. Comprising residents, it will have veto power over services and facilities in the condominium. In theory, if the majority of buyers are young, they could nix support services for the old.

The developer says the property has been positioned for active, independent seniors aged 50 and above, and that a "substantial proportion" of those interested in buying comes from this target segment. A spokesman said it "does not expect the MCST to make any drastic changes to the property".

Still, there are no guarantees. In countries such as Australia and New Zealand, retirement village developments are legally bound to continue providing the core benefits and services promised to the elderly resident in his occupation agreement.

So if a developer promises a 24-hour concierge service, for instance, this cannot be done away with simply because a majority of the younger residents do not want to pay for it.

Finally, there is also some apprehension over the fact that The Hillford aims to cater to "independent and active" seniors. Indeed, the design of the showflats is not in sync with the safety needs of frail elderly. The marble living room floor, for instance, is a slipping hazard.

There are some obstacles for wheelchair-users too, such as the small step to enter the bathroom, the lack of a shower bench and no grab bars - although the latter can be added on request. The shower area has a glass panel, blocking wheelchair access.

As a journalist covering ageing issues, I have visited more than a dozen retirement communities in Europe and the United States and spoken to those who run similar developments in Australia.

The latest trends in retirement housing lean towards communities which cater not just to an older person when he is independent, but also as he becomes frail and infirm.

Residents can continue living in the same unit even when they lose mobility, if cared for by trained care staff. There are no such provisions here. These are issues developers of retirement villages here will need to consider.

But these shortcomings of The Hillford cannot take away from the fact that its developers have dared to go where none has gone before despite the growing clamour for more retirement housing options.

Imperfect it may be but it is a start to fulfilling a demand that was first voiced nearly two decades ago.

radhab@sph.com.sg

Copyright © 2014 Singapore Press Holdings. All rights reserved.

Insurance premiums to consider when retired

Health coverage: Are you overinsured?

Many who buy top plans may face cash crunch as premiums shoot up in later years

 

By Salma Khalik Senior Health Correspondent

 

Many Singaporeans complain about paying high premiums for health insurance plans, especially after last year's rather steep rise in premiums, with some premiums more than doubling.

But what most of them don't realise is that they are probably forking out such high premiums because they have over-insured themselves and are paying for a level of insurance they are unlikely to need.

Today, more than two million Singaporeans and permanent residents are paying for higher medical insurance coverage than offered by the basic MediShield. They are on Integrated Shield Plans or IPs, which ride on the basic MediShield, but offer higher payouts based on private hospital rates or the equivalent of being treated as private patients in a public hospital.

This is good since the basic insurance is pegged at subsidised B2 and C class rates and will not offer enough coverage for those opting for a higher ward class, such as B1 or A class in a public hospital.

What is surprising, however, is that more than half of those on IPs, or 34 per cent of all Singaporeans and permanent residents covered by MediShield, have opted for the most expensive plans - those pegged at treatment in private hospitals. This does not reflect the actual usage of hospital care today, with less than 20 per cent of local residents opting for private hospitals and the rest going to a public hospital.

Do one in three Singaporeans require private hospital medical insurance when fewer than one in five are treated at private hospitals?

Why do so many buy insurance plans they are unlikely to use?

They do so partly because it is easier to downgrade a health insurance plan than to upgrade. Four of the five insurers - NTUC Income, Great Eastern, AIA and Aviva - have plans in all three IP categories. Prudential no longer offer IPs for public hospital B1 wards.

Also many buy into the plans when they are young and when the premiums are highly affordable. Up to the age of 49, Medisave can fully cover the premiums charged for these private plans, so policyholders do not feel the pinch of out-of-pocket payments

But from age 50 onwards, policy holders will have to top up their premium payments in cash, as the premiums all exceed the $800-a-year cap for premiums paid with Medisave. Each year, up till the official retirement age of 62, they will need to top up their premium payments with cash amounting to several hundred dollars. But again, as many are still working, the amounts appear affordable.

But beyond the age of 62, premiums rise steeply, averaging $4,000 a year for those aged 75. The highest premium currently charged, at the age of 100, is $8,483 a year.

Today, on average, men can expect to live to the age of 80 and women 84.5 years. A man aged 65 in 2012 can expect to live to the age of 83.5 years and a woman to 86.9 years. And life expectancy is still going up.

Already, there are more than 10,000 people aged 90 years and older and close to 1,000 who have passed the century mark.

Based on current premiums, people on private hospital plans will need to pay between $120,000 and $180,000 in premiums for those 30 years after retirement, depending on which insurer they are with.

Unless they buy riders, which pay for the portion of their hospital bill which they will still need to pay in spite of insurance, they will also need to pay thousands, perhaps even tens of thousands of dollars, for their hospital treatment.

Riders which start at about $30 a year for children, go up to about $2,000 a year for seniors.

The actual amount people will need to put aside is likely to be far higher, as health inflation has always been higher than general inflation, and premiums will rise as cost of medical treatments goes up.

So those who opt for insurance pegged at treatment in private hospitals must ask this basic question: Can they afford the thousands of dollars in premium payments in their post-retirement years?

Different people have different priorities, as well as different levels of savings. After doing my maths recently, I've decided to downgrade my medical insurance plan.

One reader wrote to me to say that she opted for the top plan, and pays extra for a rider, so she will not need to pay any out-of-pocket expenses should she need to be hospitalised. She said: "Even though the premium and rider are costly, I am determined to continue with my plan for as long as I can. In the worst-case scenario, I am willing to cut down on my transport and food to service my plan, including the rider."

She has considered her options and made her choice. But not many people have given as much thought to their IPs.

I prefer to downgrade and spend more on living healthily and getting regular health screening to stay healthy and out of hospital.

And should I fall seriously ill in my old age, I will turn to public hospitals, which have excellent doctors and whose bills I can probably afford on my downgraded health insurance plan.

salma@sph.com.sg

facebook.com/ST.Salma

Published on Jan 05, 2014 

Copyright © 2014 Singapore Press Holdings. All rights reserved.

Keeping active every day as a senior

Published on Jan 05, 2014

 

Keeping active every day

 

 

Miss Ng Suan Eng is one busy retiree. The 67-year-old goes out for lunch every day, plays host to international students, volunteers at a dog welfare group and travels a few times a year.

Miss Ng, who is single and lives with a maid and two dogs since her mother died in 1996, said: "There's not a day that I'm at home, unless I'm sick. Every day I would find something to do. I just can't stay still."

The retired deputy director of students affairs at the National University of Singapore is a firm believer in keeping herself active. "I believe when you feel lonely and depressed, your body functions slowly shut down."

She is close to her five surviving siblings, whom she meets regularly. She also has different groups of friends, with whom she does a range of activities from dining to hiking.

Having picked up scuba diving when she was 42, she goes on diving trips at least once a year.

Every semester, she hosts two or three international students studying here, introducing them to the country and mentoring them.

"Sometimes I feel lonely when no one is free for lunch or to watch a movie," she said. "But I get out of it very quickly by finding something to do."

When she has nothing on, she spends her time surfing the Web or editing videos of her holidays, family and friends.

She is now writing "the story of her life", including her family's history and her parents' romance, for her loved ones to read.

The two stray mongrels she adopted, Chu Chu and Mei Mei, bring her much joy. "They love me unconditionally and make me feel wanted," she said.

Theresa Tan

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