How much is enough for retirement in Singapore?
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starlight1968sg\" post_id=\"2130350\" time=\"1709696181\" user_id=\"14025:
Then what will happen after this 2 years extension? Will 100% extend again?
Mine is slightly different.
When am a few months close to the retirement age, the company will offer me an extension of service. Based on my colleagues' experience, it is usually 2 years of extension with pay and job scope likely the same but medical benefits will be following the current scheme. -
slmkhoo\" post_id=\"2130349\" time=\"1709696045\" user_id=\"28674:
If you are always surrounding by old or invalid people, you will remind yourself is old but for me every week play with those youngsters who are talking about dating, finding new jobs or going study in overseas....you will forget your age.
Yes - I'm a young 60yo woman! That's different from saying \"I'm a young woman\" (which no-one will believe anyway)!
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Liew Nga Wing\" post_id=\"2130357\" time=\"1709703339\" user_id=\"195250:[quote=\"Liew Nga Wing\" post_id=2130357 time=1709703339 user_id=195250]
I agree with the value of spending time with people younger than I am, but not to forget my age and feel young.
If you are always surrounding by old or invalid people, you will remind yourself is old but for me every week play with those youngsters who are talking about dating, finding new jobs or going study in overseas....you will forget your age.[/quote]
I spend quite a lot of time with people younger than I am - my 2 daughters are in their 20s, and another group that I am meeting with over these few months are also in the 20-30yo range. And my church cell group are in their early 30s, with quite a few babies in the mix! I don't find that it makes me forget my age - if anything, it reminds me how far I've come! I don't really care about age, anyway, and I think what I have experienced and know benefits the young people I spend time with. At the same time, their perspectives and experience gives me new insights too, and I appreciate the opportunities to journey along with them. -
I don’t mind growing older…it is the feeling of being behind in achievements that seem to give me some stress. I think probably going forward may be my payback time unless one day I m feeling too tired and tell myself just embrace it.
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Agree, reality is reality.. but we tell ourselves we can still do a lot of things. Like the 'young 60yo lady'
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For some elderly marooned at home wld appreciate able to be useful & contributing - the actualization. To earn abit enuf for food & pay for good holidays, whilst keeping oneself on the move & help keep going instead of less active lifestyle & illnesses abay.
I’m always tempted to return to workforce since 20 years back, but the days turn to years & it gets harder. I missed those days of lunching with my colleagues, organizing events & being dynamic at my workplace mingling with staff of all nationalities. I guess I’ll be less capable, but nvtheless shld still hv some gunk. Lol -
Estéema\" post_id=\"2130365\" time=\"1709706816\" user_id=\"66413:
You've done a lot of volunteering - that's just as good. Not necessary to get paid. Only very little of my work is paid now; most of my time is either volunteering or at home.
For some elderly marooned at home wld appreciate able to be useful & contributing - the actualization. To earn abit enuf for food & pay for good holidays, whilst keeping oneself on the move & help keep going instead of less active lifestyle & illnesses abay.
I’m always tempted to return to workforce since 20 years back, but the days turn to years & it gets harder. I missed those days of lunching with my colleagues, organizing events & being dynamic at my workplace mingling with staff of all nationalities. I guess I’ll be less capable, but nvtheless shld still hv some gunk. Lol -
slmkhoo\" post_id=\"2130367\" time=\"1709707019\" user_id=\"28674:
In a way, that’s true but the workplace dynamism & having to meet timeline to complete an event with all the challenges can be very addictive to someone who likes getting things done successfully & being measured for the achievement.
You've done a lot of volunteering - that's just as good. Not necessary to get paid. Only very little of my work is paid now; most of my time is either volunteering or at home.
But I guess having retired early, I can say the benefits are plenty too if one knows how to manage their time & keep busy at their own time own target. For some, it’s the freedom fr being ‘judge’ for their work that liberates. We can be just as busy as homemakers with “time no enuf”!
The newly raised retirement age is actually a pro for those who wish to keep the income rolling into the coffer as it becomes law to the company & they can’t just fire/retrench at will and they’ve to extend contracts & ‘forced’ to take care of eyees in their 60s. As for eyees, if they’re ready to call it a day, giving the contractual notice period. Think of your satisfaction in yr job.
It’ll just be a social pressure to stay in workforce for our population. If you want to, just don’t be pressured by ppl ard u. There’s no shame quitting early, if u’ve plans to live a fruitful interesting retirement. -
In that case since I am surrounded by preschoolers everyday, I should feel super duper young.
Whatever your age, just keep an open mind. Try out some of the stuff that youngsters are into and understand some of the challenges those older than us are facing. Don't age yourself more than necessary but don't try to be a youngster either lah.
As for retirement age, for me personally, as an employer, so long as the employee is still able to perform his/her role and deliver on their KPIs, I tend to retain them on the same terms even if they are pass their retirement age. I have staff in their late 60s who deliver on their KPIs better than those in their 20s. If for whatever reason they are unable to deliver on their KPIs then we shall look at how we can adjust their roles and if the change warrants any adjustments to their remunerations. Of course all these have to be discussed and agreed upon and the staff have to be realistic as well. Cannot expect the same pay and benefits as before if your work has to be scaled back. -
Estéema\" post_id=\"2130368\" time=\"1709708094\" user_id=\"66413:
It depends on the type of volunteer work. My volunteer work has deadlines too, though because I work part-time, not as tight as if I worked full-time, I guess. I think my work is done well, and I don't mind that the appreciation is not in monetary terms (and they can't give me less if they think I'm not performing decently). But none of my workplaces have been very dynamic or high-pressure (library, publishing, non-profit), so I think the contrast of paid vs unpaid work for me is less than for you!
In a way, that’s true but the workplace dynamism & having to meet timeline to complete an event with all the challenges can be very addictive to someone who likes getting things done successfully & being measured for the achievement.
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