The effects of ageing on savings in Singapore.

92 p.Ageing of the population is fast becoming an issue of concern for many countries and numerous studies have examined the potential economic effects of an ageing population. This study specifically looks at the impact of ageing on Singapore's private savings. Applying cointegration analysis on annual data, this study finds strong support for the hypothesis that ageing boosts consumption at the expense of savings within the sample period, 1975 to 1995. Simulations reveal that increasing the retirement age will moderate the decline in savings in the long run.BUSINES