'I intend to work till I die': Some people in Singapore weigh in on ideal retirement age

For some, it's decades ahead in planning, but for others it might just be tomorrow.

But what exactly is the ideal retirement age for people living in Singapore?

A vox pop posted on TikTok channel Who Who Call on Wednesday (Nov 1) found that the ideal retirement age starts from 50 for some.

"Around 60-plus," a middle-aged woman told the channel. "Because in Singapore, you should work for as long as you can, otherwise, once you retire, you'll rapidly deteriorate."

An elderly woman told Who Who Call that she didn't know what the retirement age ought to be.

"I'm still working at the age of 80," she said. "I intend to work till I die."

Her sentiment wasn't shared by other respondents, however, as two younger men said they'd prefer an earlier retirement.

The younger of the two expressed that a retirement age between 50 and 55 would be ideal, as he'd have savings while still being physically fit to "do whatever he wants".

The other man, a hawker, said he hopes to retire at 55. 

"Although I wish for that, I know that because I'm a hawker, I don't think I can retire that early," he admitted.

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Work smarter, not harder?

In line with the dialogue on employment and retirement, the older respondents posited that youth today cannot endure hardships.

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Said one: "Young people today will stop working and take a break once they have money… back in our day, we jumped at all job opportunities!"

Another opined that youth today have everything provided for them by their parents.

"Whatever they want, parents have to give it to them, so they aren't like us, the older generation, who can take hardships," she said.

There may be some truth in this, as the hawker mentioned: "When I was younger… I felt unmotivated and didn't want to wake up to open the stall… but I've changed.

"In the past, my parents were running the stall. Now that I've taken over, I have to take responsibility."

A young respondent shared a different perspective on the matter, however, claiming that it isn't that youth can't take hardships, but rather that they choose not to endure unnecessary hardship.

"It was different in the past, perhaps because there wasn't a lot of exposure to the world," he began.

"Most people could only listen to what their elders would tell them. Now, however, we have access to a lot of information and can learn about the world."

Retirement, re-employment ages increase to 65 and 70 respectively

During the 2019 National Day Rally speech, Prime Minister Lee Hsien Loong announced that the government will raise the retirement age and re-employment age to 65 and 70 by 2030.

This is because Singapore has one of the longest-living and oldest populations among Southeast Asian countries, with nearly a quarter of citizens who will be aged 65 and above by 2030, according to the Department of Statistics.

"Most seniors in fact do not want to stop working," PM Lee said. "We are healthy for longer and living longer, but we do not want to spend more years idle in retirement.

"We want to stay active and engaged, to feel a sense of worth and purpose."

ALSO READ: Is job hopping all that bad? This is how Gen Zs are normalising the '1 year, 1 job' category

khooyihang@asiaone.com