In an interview, Dean of the SMU School of Economics Professor Bryce Hool commented that it is plausible that a portion of the working population would work beyond the current retirement age, and even beyond 65, as the retirement age moves up. Singapore’s labour force participation rate for those over 65 is relatively low by Asian standards. He felt that while inflation raises the consideration of how long people have to work, it is rising longevity, rather than inflation, that is central to the issue of retirement and ageing. He noted that many people are currently not well prepared for retirement, especially those who are approaching retirement; whereas the younger workers are more aware of the need to save for retirement. Prof Hool said that governments in many countries, including Singapore, have to grasp with the problem of a population which is not only getting older, but ageing very rapidly. Dependency ratio will change significantly within four decades. In response, governments are raising the retirement age.