27 Oct '17, 7am

Singaporeans expect to work for longer as 70 becomes the new 60: Survey

SINGAPORE (BLOOMBERG) - Singaporeans on the verge of retiring expect they will keep working for longer than those that came before them. Men aged 55 to 59 had far greater expectations to work full-time past 65 and 70 than employees currently do, while women had higher such projections beyond 62, 65, and 70, according to the latest survey by the Singapore Management University's Centre for Research on the Economics of Ageing, which works with the US-based Rand Corporation. The findings could ease pressure on policy makers to financially support a rapidly-ageing population that's living longer. Other countries have grappled with political pressures to keep retirement ages unchanged, leaving a steady flow of people taking up benefits as they kick in. Singapore's retirement age, however, has rapidly increased to 67 years and made residents more adaptive to working longer, acco...

Full article: http://www.straitstimes.com/business/economy/singaporeans...

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