Mission and Vision
Mission of CREA
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CREA aims to conduct high-quality research on issues relating to ageing populations, to contribute to a better understanding of the issues in Singapore and other ageing economies in Asia. By developing a research platform with the infrastructure for high-frequency surveying and a panel for longitudinal studies, it will serve as a resource hub and position SMU as a regional leader in the international network of centres for research on ageing.
The realities of ageing, however, give rise to economic challenges, and the major questions of concern are:
- What are the chances that Singaporeans run out of savings in their old age?
- Will Singaporeans be able to afford the medical care they need?
- What is the role of housing wealth in retirement income?
Over the course of four years (2015–2019), CREA will undertake one of the largest high-frequency surveys in the world. The research will build a unique picture of the economic situation in Singapore based on monthly data collected through the Singapore Life Panel® (SLP), which is made up of a population-representative probability sample of about 11,000 households.
Vision of CREA
CREA’s primary mission is to carry out a programme of research on economic security for Singapore’s ageing population. This research is being based on the longitudinal survey of the Singapore Life Panel® (SLP), a high-frequency survey of a cohort aged 50-70 which is yielding more than 8,000 responses each month, covering a wide range of retirement-related variables including labour force participation, income and expenditure, health, household structure and transfers, and assets. The principal objectives are to provide a detailed picture of the situation of ageing Singaporeans, analyse relationships among key variables affecting financial adequacy, and evaluate existing and potential policy measures designed to improve well-being for the elderly.
Key capabilities of CREA
- A national centre for research on all facets of the economics of ageing
- A frontier data-collection programme
- A state-of-the-art life-cycle model for retirement
- Developing the research infrastructure in significant applied fields, including Health Economics and the Economics of Retirement
- Working closely with public and private sector agencies to translate research findings into actions that will improve the livelihoods of Singaporeans.