Golden spending in the silver years

A study conducted by Prof Sumit Agarwal and Assoc Prof Qian Wenlan from the Dept of Finance of the NUS Business School, and Asst Prof Jessica Pan from the Dept of Economics at the NUS Faculty of Arts and Social Sciences noted that senior citizens still buy the same number of food items as before, and hence, retirees in the lower income bracket are likely to be the hardest hit with a greater reduction in expenditure. The researchers suggested that policymakers could consider providing some subsidy to help these senior citizens tide over retirement.

• The Straits Times, 5 August 2016, Opinion, pA28