Singaporeans welcome new retirement age of 65
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Jan 14, 2011 - Straits Times
By Shivali Nayak
EVERYONE looks forward to retirement, but many Singaporeans still feel capable of working beyond the age of 62, so many rejoiced at the government's recent announcement of lifting the retirement age to 65.
Ramesh Prakash Sharma, 66, is so good at his job that when he turned 62, he was given a promotion instead of being asked to retire. His company Qioptiq, an optics manufacturing company, made him a Technical Mentor to show younger employees the ropes. He says: 'I love my job. Optic is in my blood.'
Under the new Retirement and Re-employment Act passed in Parliament on Tuesday, employees who turn 62 will now be given the option to work for another three years. The new re-employment law will be in place from January 2012 and will affect some 20,000 workers.
Another gainfully employed sexagenarian is Elizabeth Hendriks, a 63-year-old steward with Fairmont Singapore who has never missed a day of work in her 13 years with the organisation.
She says she is happy with her job as it keeps her active, and she has only taken 2 days of medical leave in the last 5 years.
Leon Bock, General Manager at The Family Movers, says that older workers bring a lot of value to the company. He says older workers are more experienced and loyal to the organisation, and also take fewer MCs.
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Still, it all depends on each company's culture
some will be employed happily at 65, some will not
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State of health too.
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65??? i wan to retire by 40 lor... latest by 45... work till 65 then where got time to have a real life?
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and with foreigners, will men at 65 get cheated?
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Originally posted by Mr Milo:
and with foreigners, will men at 65 get cheated?
getting cheated is not how old but how stupid.
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Originally posted by I-like-flings(m):
65??? i wan to retire by 40 lor... latest by 45... work till 65 then where got time to have a real life?
Whoa....... you are the high flyer leh....... an retire so early.......SHIOK!!!
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wa these few people represent whole of sinkapore, very naiiseeee
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Singaporeans generally agree to whatever the PAP throws at them, if they decide to increase retirement age to 100 y.o., they would welcome it with open arms.
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No money how to retire before 40?
Most welcome work till 65 because they couldnt catch up with their standards of living when they reach 55, so suck thumb work till 62.
Increase to 65 happy, cos they wun have to end up as a road sweeper or toilet cleaner after 62.
In China, most people retire at 40. Singapore, maybe 70? -
i tout lao lee say there's no such things call ' retirement ' in $inkapore......?
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wah get CPF money 3 years later at 65, singaporeans are very happy hor :) That's nice.
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why wan to retire at 65? tot these are the golden years? 30 + years of working not enough? still wan to work till u drop DEAD?
GET A LIFE !
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One person wants to retire at 100 doesnt mean everyone wants to.
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That's great news.
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wants to retire rich.
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Not every one can live till 65.
Not every one is employed until 65.
Not every one is getting more pay until 65.
What load of crap !