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Singapore - world's longest retirement


Taipan49
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http://www.bloomberg.com/news/2013-04-18/w...re-remodel.html

 

Singaporean men live an average 20.8 years after retirement while their female counterparts have 25.6 years, according to the Bloomberg Sunset Index. The measure, which places Singapore ahead of France and South Korea, estimates the age at which residents leave the workforce and subtracts this from their life expectancy. A 2012 Bloomberg study on the healthiest nations awarded the highest grade to Singapore out of 145 countries.

 

Average of 20 years for men is very long time to live without working, and for women it's longer! Require lots and lots of cash to meet an appropriate standard of living.

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http://www.bloomberg.com/news/2013-04-18/w...re-remodel.html

 

Singaporean men live an average 20.8 years after retirement while their female counterparts have 25.6 years, according to the Bloomberg Sunset Index. The measure, which places Singapore ahead of France and South Korea, estimates the age at which residents leave the workforce and subtracts this from their life expectancy. A 2012 Bloomberg study on the healthiest nations awarded the highest grade to Singapore out of 145 countries.

 

Average of 20 years for men is very long time to live without working, and for women it's longer! Require lots and lots of cash to meet an appropriate standard of living.

 

That's bcos when we lose our job after mid 40s, you are dead. All thanks to our FT policy. As yourself how many retirees on the street are forced retirement and not planned retirement.

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Turbocharged

http://www.bloomberg.com/news/2013-04-18/w...re-remodel.html

 

Singaporean men live an average 20.8 years after retirement while their female counterparts have 25.6 years, according to the Bloomberg Sunset Index. The measure, which places Singapore ahead of France and South Korea, estimates the age at which residents leave the workforce and subtracts this from their life expectancy. A 2012 Bloomberg study on the healthiest nations awarded the highest grade to Singapore out of 145 countries.

 

Average of 20 years for men is very long time to live without working, and for women it's longer! Require lots and lots of cash to meet an appropriate standard of living.

That is for the last generation. This generation will retire much much later. Anyway, look around you, how many old people now still working in food courts? Falling out of the official statistics does not mean retirement, it means company no longer want to employ.

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That is for the last generation. This generation will retire much much later. Anyway, look around you, how many old people now still working in food courts? Falling out of the official statistics does not mean retirement, it means company no longer want to employ.

i know lot of people dont want to retired. but force to :D:D:D

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Can someone verify this? I was told if you are jobless for 6 months, in statistics you don't belong to the unemployed anymore. U will be classified as retired.

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I agreed with the findings

 

Looking around hawker centres, kopitiam on any morning, afternoon and evening.

 

You see many people sitting around chit chatting. And they are not old at all. The ones collecting trays and collecting trolleys in Changi airport are much older.

 

 

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i know lot of people dont want to retired. but force to :D:D:D

 

this kind of thing you say until like beh pah seh <_<

must saying something like Govt is doing all it can to look for job for these people mah [:p]

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Can someone verify this? I was told if you are jobless for 6 months, in statistics you don't belong to the unemployed anymore. U will be classified as retired.

 

Yes.

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Can someone verify this? I was told if you are jobless for 6 months, in statistics you don't belong to the unemployed anymore. U will be classified as retired.

 

I used to believe in statistics till I have to make statistic to show bosses/customers :wacko:

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the is like saying, singapore has 2% unemployment rate. thus ALL singaporeans are happy

 

just because our retirement age is 65 and life expectancy is 85 doesn't mean we are happy nor does it mean that a retired person stays jobless for 20 odd years!

 

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Turbocharged

They base in 55yrs old to calculate or base on 65yrs? How they define retirement? Base on cpf contribution?.. wonder where they get the raw data from... I'm always skeptical with statistic and those ranking stuff... [:p]

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this kind of thing you say until like beh pah seh <_<

must saying something like Govt is doing all it can to look for job for these people mah [:p]

lets look at it another way:-

 

if the job market can only provide 1 million jobs and everyone holds on to his job, ie these 1 million jobs are fully taken today, comes next year where are the school leavers going to find the job they need? In order to strike a balance, so to speak, the number of retirees must equal to the number of new job seekers (ie school leavers) every year. Alternatively, new jobs must be created in addition to the existing 1 million jobs to meet the need of these new job seekers.

 

equation:- number of new job seekers = number of retiress (who vacate their current job) + additional new job created

 

therefore, having sufficient people retired every year is an important part of the equation. if there's zero or very small number of retirement, the burden to create new jobs is very heavy for the govt / industries

 

then we will say "How to retire now so that my job can be given to a new job seeker? i still owe banks my home's morgage, i still need to support my children's education...."

 

when we start our family and have children, buy a home, etc, do we plan to retire at 55, or later in order to fulfill our financial commitments for housing/children's education etc etc?

 

when workers are told to retire later, ie 65 instead of 55, the reasons given can be: too many jobs in the market for too few takers (eg not enough school leavers to fill the job market and/or too many new jobs are created), or the financial commitments of these workers dont allow them to retire at 55.

 

On a organisation level, if the old workers dont retire, how is the organisation going to take in new workers (school leavers)? for the matter, if the older workers dont retire, even the other existing workers below them have less chance to be promoted!!!

 

 

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I don't want to work as a cleaner in a foot court when I am old,

 

I intend to take a high class job at Macdonalds!

 

Or the washing up job at Sakae for 3k a month. [thumbsup]

 

:D

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