PAP MP: scrap retirement age?

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PAP MP: scrap retirement age?

Postby raysusan » Tue Jan 21, 2014 8:23 am


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Re: PAP MP: scrap retirement age?

Postby NY1969 » Tue Jan 21, 2014 8:31 am

Ageing population is on the rise. Just take a look over last weekend "the Hilford" launch. Fully sold. So guess govt want more old folks to contribute back to society.

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Re: PAP MP: scrap retirement age?

Postby jetsetter » Tue Jan 21, 2014 8:36 am

raysusan wrote:http://news.asiaone.com/news/singapore/ ... rement-age

what u guys think about that?


Raysusan: more imply, what do YOU think?

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Re: PAP MP: scrap retirement age?

Postby Nebbermind » Tue Jan 21, 2014 8:46 am

NY1969 wrote:Ageing population is on the rise. Just take a look over last weekend "the Hilford" launch. Fully sold. So guess govt want more old folks to contribute back to society.


The question from me has always been "What kinda jobs are suitable for the >65?" especially those with little education...

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Re: PAP MP: scrap retirement age?

Postby rains » Tue Jan 21, 2014 8:58 am

If I have their job and pay check, I also want to scrap retirement age.

I don't want to wipe tables at food court and collect dirty dishes for a measly pay that cannot give me a decent living at 65 years old and beyond.

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Re: PAP MP: scrap retirement age?

Postby Nebbermind » Tue Jan 21, 2014 9:03 am

rains wrote:If I have their job and pay check, I also want to scrap retirement age.

I don't want to wipe tables at food court and collect dirty dishes for a measly pay that cannot give me a decent living at 65 years old and beyond.


Those having 5-figure/mth will have no problem telling others they donch mind working beyond retirement age....even with 50% pay cut!

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Re: PAP MP: scrap retirement age?

Postby slmkhoo » Tue Jan 21, 2014 9:09 am

I think there are people who enjoy their work and want to work longer, but may face problems getting or keeping their jobs once they are of a certain age. Others may need to paycheck and can't afford to stop. For such people, not having a retirement age is good in that they can work until they are no longer able to, without the concern that they must stop at a certain age. Since there is no pension now for most people, there is no compulsion to work longer than you want to. There just needs to be flexibility and fairness from all concerned to redesign jobs, reduce job scope and pay etc as the situation requires.

I'm working freelance now, and I would like to work as long as possible. I'm 50 next month, and I don't think I would want to stop at 65 if I can still do what I'm doing.

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Re: PAP MP: scrap retirement age?

Postby jetsetter » Tue Jan 21, 2014 9:09 am

let's look at why those pp are advocating extension:

- Singaporeans are marrying later, hving kids later, therefore need to take a longer housing mortgage. Job security/CPF monies is a necessity for most Singaporeans earning a mere 3-5% increment pa.
- healthier lifestyle/medical advancement has prolonged our average life expectancy. Yes, today's 40 is yesterday's 30 (still cracking silly jokes for instance!) and 60 is still looking suave in the polo tee like yesterday's 50.
- Inflation is rising, so our kids will be struggling with their expenditure, hence we need to fend for ourselves. Can't expect them to support us when we're 60. We need income.
- CPF Min sum keeps rising and we can't never seem to reach it, hence we are in a way forced to keep slogging till we meet that moving target.
- Healthcare costs are on the rise means we need to continue working to earn more Medisave, becos we're just not a welfare state.

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Re: PAP MP: scrap retirement age?

Postby janet88 » Tue Jan 21, 2014 9:13 am

jetsetter wrote:let's look at why those pp are advocating extension:

- Singaporeans are marrying later, hving kids later, therefore need to take a longer housing mortgage. Job security/CPF monies is a necessity for most Singaporeans earning a mere 3-5% increment pa.
- healthier lifestyle/medical advancement has prolonged our average life expectancy. Yes, today's 40 is yesterday's 30 (still cracking silly jokes for instance!) and 60 is still looking suave in the polo tee like yesterday's 50.
- Inflation is rising, so our kids will be struggling with their expenditure, hence we need to fend for ourselves. Can't expect them to support us when we're 60. We need income.
- CPF Min sum keeps rising and we can't never seem to reach it, hence we are in a way forced to keep slogging till we meet that moving target.
- Healthcare costs are on the rise means we need to continue working to earn more Medisave, becos we're just not a welfare state.

:goodpost:

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Re: PAP MP: scrap retirement age?

Postby jetsetter » Tue Jan 21, 2014 9:19 am

Now, let's look at why some pp thinks we can't:

- not everyone is in jobs that can be "retired later", like cleaners, security guards, gardeners, bus drivers, taxi drivers, etc.

Advocate says: dun worry, we upskill/multiskill u to keep u that job. We dish out training grants and subsidies to your employer so u can continually be employed, incl enabling u to cross-sector.

- not everyone possesses the qualifications nec to be still relevant in that job after 62.

Advocate says: dun worry, apart from sending u to some 'comfort training' from time to time, we reemploy u for another 3 yrs (62-65), give u a lighter workload, cut your pay, u co-share medical insurance.

- not everyone needs to work, cos of enuff retirement savings, property/car fully paid for, kids are self sufficient.
- not everyone wants to work, cos wanna take care of grandkids and take a long break.
- not every kid wants their parents to work after retirement

Advocate says: liddat ah...CPF min sum will go up, how? Wanna grow it or let it stuck inside? U fall sick how? medical bills can be 6-digit one u noe...u wanna pay or u wanna make your kids pay for u?

now, go be an active ager, take the lead and relinquish your director position, swallow your baby-boomer pride and work under the 30-40 sthgs...u volunteer to downgrade, so we can promote our hot-blooded generation of tomorrow.

- not every sector desires to re-hire a 62yo, e.g. retail/F&B/consumer banking frontline that cater to the young.

Advocates: no, no, cannot discriminate. Let's roll out the fair employment practices campaign. Shame those errant employers, get a few poster aunties/uncles from Robinsons or McDonald's to speak up on lifelong learning & employment.
Last edited by jetsetter on Tue Jan 21, 2014 9:33 am, edited 2 times in total.

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