Work until 65 or later? Yes, because…
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By Ewen Boey – December 4th, 2010
It seems most Singaporeans can kiss their dreams of an early retirement goodbye.
According to results of a question we posed on Yahoo! Answers, “Would you work until the age of 65?“, the majority of close to 200 respondents said they were willing to work past the age of 65 due to two main reasons — the high cost of living in Singapore and the need to remain mentally active.
The issue of retirement was recently in the spotlight again after the Public Service Division announced that civil servants approaching the retirement age of 62 will be given the option of delaying their retirement to work until 65 years of age.
Yahoo! Answer user Mathmajor Pi, however, lamented about not having the luxury of an early retirement.
“I have no choice, I have to work longer. There is no way I could even live on social security and the job market is so bad, my children will need money even after I die,” he said.
ExtremeRight asked, “Could you afford to stop working at 62? If you do not have a choice, you have to work. Even if you need to sweep the corridors to put food on the table.”
Other users felt that regardless of whether one can afford to stop working, it was good to remain physically and mentally active during one’s golden years. Retirement and inactivity, many believed, would quickly lead to death.
BCbuco989 shares his view, “I plan to work till I drop, doing something that I love. You have to have something to live for! When you retire, many times you die if you don’t keep busy.”
Another user chyuan expressed an willingness to continue working to keep himself busy.
“Personally, I would prefer to work if I can, as it keeps the mind and body working. Hopefully by that age, I will be working not for money but to fill my spare time.”
However he also questioned the feasibility of finding a job at 65, as most employers would prefer to hire younger and more able-bodied workers.
“As most employers will rather employ a younger worker, most will not be employed. Thus, it is likely that most will have to work but have to remain jobless, as they could not find jobs,” he added.
However, a small minority of respondents said they who would prefer to retire as early as possible.
Yahoo! Answers user kopi said, “I will not work till 65. I retired from public service when I was 60 years old, although I was given an option to work till 62 and with 10% cut on my current salary. Life is unpredictable, so better enjoy your golden years to come if you can.”
Yo Yo agreed and said, “I would choose to be semi-retired at the age of 50 if I can, enjoy life while I am still fit, as I have been working and leading a stressful life for so many years.”
User JC also questioned the need for Singapore to raise the retirement age.
“It’s utterly weird that a developed society raise the retirement age, usually it should go the other way round. If I can support myself financially of course I wanted to retire when I was 35. There’s so much more to learn and to enjoy in life than work. No, I would rather go back to study at 65 rather than work.”
Source:
http://sg.yfittopostblog.com/2010/12/04/work-until-65-or-later-yes-why-not/ -
most S'poreans can't retire but need to be supported by their kids...............all thanks to PAP.......
things so expensive and pay so little so how to save up ????
most of CPF already in the flats the old people are staying..........plus the CPF can't pay out !!!
that's why new flats keep getting more expensive and retirement age keep going up...........
CPF can't pay out...........i just hope i can get my money out before CPF collapses..........already PAP borrowing money last few years to keep CPF alive.....
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No.... no.... i cannot face this fact...
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Originally posted by Junyang700:
Yahoo! Answer user Mathmajor Pi, however, lamented about not having the luxury of an early retirement.
“I have no choice, I have to work longer. There is no way I could even live on social security and the job market is so bad, my children will need money even after I die,” he said.
ExtremeRight asked, “Could you afford to stop working at 62? If you do not have a choice, you have to work. Even if you need to sweep the corridors to put food on the table.”
THE ULTIMATE QUESTION IS: DO YOU HAVE A CHOICE NOT TO WORK???
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Originally posted by Ä«Õß:¸ïÀë:
THE ULTIMATE QUESTION IS: DO YOU HAVE A CHOICE NOT TO WORK???
Yaahhh...most people with CPF paid for their houses, no $ for retirement....no choice have to work.
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CPF system is a total failure.
In retrospect it can be seen that the March 1962 debate marked the death of the proposal to replace the CPF with a social insurance scheme. The matter was simply not raised again.
The next indication that the CPF would continue was the announcement of an increase in the interest rates paid to CPF members on 5 May 1964.
Even the announcement on 25 August 1964, that the Malaysian Government was introducing a disability insurance scheme did not prompt a revival of the social insurance issue from either the opposition or the government.
New light has been cast on these events by Goh Keng Swee. In a recent interview with the author, Goh claimed that he had always intended to retain the CPF to use it as a tool of capital accumulation, and that he and Lee Kuan Yew never had any intention of introducing any kind of social insurance scheme:
MDB: When did you decide to keep the CPF as a permanent institution?
Gob: All along. I thought it was a very useful institution of savings, started by the British. And then I intended to raise contributions when the time came.
MDB: The whole question of the CPF and social insurance, was it tied up with the debate over whether to build a welfare state?
Goh: I don't think there was much of a debate on that. We never believed in the welfare state.
MDB: And that includes Mr Lee?
Gob: That includes Mr Lee. MDB: From his earliest days that you know of?
Goh: Yes.
MDB: So he was never really a conventional British Labour Party type socialist, was he?
Goh: (Guffaws of laughter.)Well, Singapore is a very small place. And a small country does not respondto what you expect a bigger country to react to. In a bigger country you have industries to protect it. But in a small country you can't.(39)
http://findarticles.com/p/articles/mi_go1877/is_1_46/ai_n28766099/pg_4/?tag=content;col1
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Better still many contributed their CPF to Batam...
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Originally posted by Demon Bane:
Yaahhh...most people with CPF paid for their houses, no $ for retirement....no choice have to work.
and to make your fucking miserable life MORE MISERABLE, no one wanna employ you....... and by that time, the living standard in my dear $inkapore will...........??????
NEGARAKUKU
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If PAP is kicked out, we can see some reforms to this hellhole but if people still want to be PAP slaves, then so be it.
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a lot of uncles standing around hawker center and waiting for you to leave your table. (why?)So that they can finish your leftover food.
(a scene from Jack Neo's The best bet)
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Originally posted by Askingyouto:
If PAP is kicked out, we can see some reforms to this hellhole but if people still want to be PAP slaves, then so be it.
hey bro, pls teach us HOW to kicked them out?
So wat if 50% vote goes to opp party?
Who still have the FINAL SAY???
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Originally posted by Ä«Õß:¸ïÀë:
hey bro, pls teach us HOW to kicked them out?
So wat if 50% vote goes to opp party?
Who still have the FINAL SAY???
We can try to talk to people around us about the problems with PAPist, that's a first step, if they aren't interested, just move on to others, don't waste time, but firstly you, yourself must belive opposition can turn things around, whether they can win the election will be up to you and me.
That will be a hung parliament, and who will have the final say, I would not know, you will have to find out, but will PAPist allow a hung parliament without "fixing" oppositions?
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My retirement plans:
http://www.singaporepools.com.sg/en/lottery/toto_result.html
http://www.singaporepools.com.sg/en/lottery/sweep_result.html
I feel I cannot depend on CPF for retirement....
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Originally posted by cyberr1981:
My retirement plans:
http://www.singaporepools.com.sg/en/lottery/toto_result.html
http://www.singaporepools.com.sg/en/lottery/sweep_result.html
I feel I cannot depend on CPF for retirement....
LOL... I oso hoping... but den... cant depend too much. Later 165 also cant retire.
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I wanna retire at 30. Hehe.... Singapore Pools, when you giving me my 6 numbers. Just give me lah!
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Retirement is no longer a phase that arrives automatically.
It is not like teenage, adolescence, adult, middleage, senior citizen that comes whether you like it or not.
Retirement is something you strive for.
Therefore you plan for it, and make it successful.
If you fail to plan for your retirement, you will definitely have no retirement.
You want the PAP to give you retirement. Tan Koo Koo.
You want the SDP to give you retirement. Good Luck.