REACH 546 -  What are your thoughts on the increase of retirement and re-employment age to 64 and 69 respectively from 2026? What more can the Government do to ensure that our seniors are supported in their journey from re-employment to retirement?

(SK)

05 Mar 2024 (10am - 7pm)

REACH

5/3/24, 9:55 am - +REACH: *Dear Contributors,*

Welcome back! 😊

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Megan 😊

5/3/24, 10:01 am - +REACH: 📢 *Topic* 📢

During the Parliament sitting on Monday (4 Mar), Minister of State for Manpower Gan Siow Huang announced that employees retirement age will be increased by a year to 64 from 2026 while the re-employment age will be raised to 69 in the same year.

Singapore citizens and permanent residents who have satisfactory work performance and are medically fit to continue working are eligible for re-employment.

💬 *What are your thoughts on the increase of retirement and re-employment age to 64 and 69 respectively from 2026? What more can the Government do to ensure that our seniors are supported in their journey from re-employment to retirement?*

Singapore, which will have one in four citizens aged 65 and above by 2030, has the third-highest employment rate for workers aged 65 to 69 among countries in the Organisation for Economic Cooperation and Development, Ms Gan said.

Workers in this age bracket are also joining the workforce in greater numbers, lifting the employment rate by 5 percentage points in the last five years to 48.3 per cent in 2023.

📌 *Support measures for Re-Employment*

Its Part-Time Re-employment Grant (PTRG) gives up to $125,000 for employers who provide these workers with part-time jobs after they reach retirement age, and can also be used to access career training for them. Its Senior Employment Credit scheme offsets wages for workers aged 60 and above.

Employers can enjoy up to $125,000 in grant support under the PTRG scheme. As of December 2023, with the support of the PTRG, more than 6,300 employers committed to provide part-time re-employment under their HR policy. This is expected to benefit around 50,000 senior workers.

📌 *Support measures for mature and long-term unemployed workers*

MOM also announced increased salary support caps for Workforce Singapore’s Career Conversion Programmes from Apr 1.

For mature or long-term unemployed workers, the cap will be raised to S$7,500 (US$5,600) a month, up from S$6,000. Funding for other workers can go up to S$5,000 a month, compared with S$4,000 currently.

Minister for Manpower Tan See Leng also said the Career Conversion Programme for existing workers in a company will be expanded beyond reskilling for those in jobs at risk of redundancy.

👉🏻https://www.straitstimes.com/singapore/politics/s-pore-retirement-age-to-go-up-to-64-in-2026-re-employment-age-to-rise-to-69

👉🏻https://www.channelnewsasia.com/singapore/retirement-reemployment-age-increase-4168776

👉🏻http://www.mom.gov.sg/newsroom/speeches/2024/0304-speech-by-mos-gan-siow-huang-at-committee-of-supply-2024

5/3/24, 10:01 am - ~ REACH Singapore changed this group's settings to allow all members to send messages to this group

5/3/24, 10:04 am - ~ REACH Singapore changed the group description

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5/3/24, 11:02 am - +REACH: *Dear Contributors*

We want to *HEAR MORE* from you! 

💬 *What are your thoughts on the increase of retirement and re-employment age to 64 and 69 respectively from 2026? What more can the Government do to ensure that our seniors are supported in their journey from re-employment to retirement?*

We have had good feedback from this group, and we hope that we can keep the discussion robust and active!

Megan 😊

5/3/24, 11:07 am - ☸️  Danny 心: 

1. Nowadays, people lifespan are getting longer and with better healthcare, people tend to live longer and healthier.

2. Hence, more living expenses will be incurred by people.

3. Extending the retirement age will be beneficial as people can earn more income to sustain their lives.

4. At the same time, many people prefer to have jobs to occupy their time and earn income rather than relaxing at home if people are physically healthy.

5. Elder experience workers will also help to fill up demand for workers by business who may face problems recruiting labour due to labour shortage.

5/3/24, 11:10 am - +9richard: How about CPF for ago 64 ?

5/3/24, 11:31 am - +Rama: Will cpf life draw down age be raised!?

5/3/24, 11:33 am - +Frankie Wee: Retir till 81

5/3/24, 11:33 am - +Frankie Wee: Regardless their age is matter and healthier

5/3/24, 11:33 am - +Rama: 90!?

5/3/24, 11:33 am - +Frankie Wee: Rip

5/3/24, 11:34 am - +Rama: Employers reaction too!

5/3/24, 11:35 am - +Frankie Wee: CPF likely to reach retirement mins if they are able to met enough COL

5/3/24, 11:36 am - +Rama: Or earlier

5/3/24, 11:36 am - ☸️  Danny 心: 

1. The catch is however companies must be open to accept older workers into their companies - as age discrimination is quite common.

2. Bosses and line managers must be comfortable working with older workers.

3. This must be consciously build into the culture of every companies before the extension of retirement age be successful.

4. Older workers must also set their expectations realistic and accept lesser pay as the age catch up to commensurate with the work produce.

5. I feel that government, business and unions should help to facilitate and manage expectations of the various parties.

5/3/24, 11:36 am - +Frankie Wee: Yeah we have to take care of our healthier daily

5/3/24, 11:39 am - +Rama: Yes

5/3/24, 11:39 am - +Rama: Any positive signs from local employers!?

5/3/24, 11:43 am - +Darius Lee: Given our challenges with total fertility rate and ageing population, it would be good for the Government to consider how to promote work-life balance for grandparents also, and promote grandparent involvement in their grandchildren's lives.

One suggestion: Extend childcare leave to grandparents. <This message was edited>

5/3/24, 11:44 am - +Rama: Worth considering

5/3/24, 11:52 am - +Jimmy Chew: I think what the government did you supplement workfare for those who need to continue working after retirement is commendable. I think companies who want to employ old folks need to have some incentives because they are doing national service

5/3/24, 12:01 pm - ☸️  Danny 心: 

Don't know...

5/3/24, 12:05 pm - +Khuan Yew: I think it is good that the retirement age is increased so that those who want to continue to work, are able to do so. 

However, I think the success of the salary support scheme is questionable. It would be challenging for mature PMET workers to retrain into other areas like AI or digital marketing since they would still face competition from younger and cheaper peers who studied these in the university. What happens to the mature worker when the maximum amount has been disbursed?

The predicament we have now with our seniors is that their CPF savings which grew at returns that were too low compared to inflation over decades, don’t have enough retirement income and therefore need to work. Government is stuck between a rock and a hard place.

The skeptic in me asks whether the increase in the retirement age would also mean that the CPF Life payout would be shifted to start from age 70 in the future, compared to 65 now.

5/3/24, 12:19 pm - +Frankie Wee: Take skillfuture claim $4k age 40 and above

5/3/24, 12:19 pm - +9richard: Can we have govt subsides if company were to employ mature workers for 12 months

5/3/24, 12:26 pm - ☸️  Danny 心: 

"NEA Will Step Up Efforts Across Five Key Areas In Designation Of 2024 As The Year Of Public Hygiene"

 https://www.nea.gov.sg/media/news/news#:~:text=NEA%20Will%20Step%20Up%20Efforts%20Across%20Five%20Key%20Areas%20In%20Designation%20Of%202024%20As%20The%20Year%20Of%20Public%20Hygiene

5/3/24, 12:26 pm - ☸️  Danny 心: <Media omitted>

5/3/24, 12:26 pm - ☸️  Danny 心: <Media omitted>

5/3/24, 12:26 pm - ☸️  Danny 心: <Media omitted>

5/3/24, 12:26 pm - ☸️  Danny 心: 

Charge plastic bags - wonder how to bag food waste?

5/3/24, 12:27 pm - ☸️  Danny 心: 

This one really a joke.

5/3/24, 12:30 pm - ☸️  Danny 心: <Media omitted>

5/3/24, 12:30 pm - +KL: actually is the pest terminator purposely don’t want clear properly ?

5/3/24, 12:31 pm - ☸️  Danny 心: 

忠言逆耳。

5/3/24, 12:31 pm - ☸️  Danny 心: 

I don't think so.

Once if food waste not properly bag, pests come very quickly.

5/3/24, 12:32 pm - +KL: Hmm true , actually if can just use plastic bottle / pail and arsenic to create a trap but of course human don’t step on it and sprain ur leg . <This message was edited>

5/3/24, 12:36 pm - +KL: If not with chicken and rats python / king cobra population will grow also, next thing u heard is someone bitten by python or bite by cobra :)) <This message was edited>

5/3/24, 12:37 pm - +Jimmy Chew: I was at the hong lin food center. Saw a rat, fat one. My friend say common. Rain they all come out. So those in charge not doing a good job or because or the plastic or because of the building. So difficult to find root cause

5/3/24, 12:39 pm - +Rama: Agree

5/3/24, 12:43 pm - +KL: Actually I think after tc stop washing the rubbish chute in older block it started to have a lot of cockroaches and rats . .

5/3/24, 12:43 pm - +Rama: Could be a contributing factor

5/3/24, 12:43 pm - +KL: And mosquitoes as well

5/3/24, 12:43 pm - ☸️  Danny 心: <Media omitted>

5/3/24, 12:43 pm - ☸️  Danny 心: <Media omitted>

5/3/24, 12:44 pm - +KL: But I don’t understand why stop washing cause mosquitoes which I can’t understand cos no clean water source so should be less mosquitoes. So need to u all to check if after TC stop washing = dengue increase etc ?? <This message was edited>

5/3/24, 12:44 pm - ☸️  Danny 心: 

This is the lesson learn - who don't believe in prophecy.

5/3/24, 12:53 pm - +Japanese words: Possible?

5/3/24, 12:55 pm - +Rama: Apply only to those turning 55 next year!?

5/3/24, 12:56 pm - +Japanese words: CPF policy cannot keep changing to meet their demand or perspective of gaining to system. For that 1 to 3% gaining the system, they changed it to covered the loophole is a bit meh..

5/3/24, 12:57 pm - +Japanese words: Specially for those planning to use it for their retirement or other plans then government plans 😂

5/3/24, 12:58 pm - ☸️  Danny 心: 

1. Now government got to waste money deploying thermal sensor to detect rats. And attempt to destroy the nests with rat infestation.

2. Previously, households only need to bag their food waste - and eliminate the food sources, no rat infestation.

3. Now even if thermal sensor can detect rats and destroy their nests, as long as waste food sources are still around and not properly bag, rat will grow and multiply very quickly.

4. Hence shouldn't NEA swallow their pride and allow supermarkets to dish out some a free plastic bag a day to bag food waste at home before levying charges on plastic bags to prevent excessive plastic bags?

5. Resolution of hygiene problem and rat infestation need to tackle at the root cause - which is unbag expose food waste - a tested method of preventing rat infestation for many decades.

6. Why abolish it now? And lead to rat infestation - and then try to solve it by untested method. <This message was edited>

5/3/24, 1:00 pm - +Rama: 😳🤦‍♂️🤷‍♂️😔

5/3/24, 1:07 pm - ☸️  Danny 心: 

Surprisingly no MPs bring this up in Parliament - whether ruling party or opposition parties.

Probably rat infestation and leptospirosis pandemic not yet reach alarming pandemic stage yet.

Or too obsess to curb plastic bags than to bother about rat infestation problem.

5/3/24, 1:32 pm - ☸️  Danny 心: https://technology.inquirer.net/132493/biometrics-scam

Hackers steal biometrics to open bank accounts.

Facial biometric were stolen.

5/3/24, 1:45 pm - +KL: That why use finger print better cos u got 10 sets of finger print

5/3/24, 1:45 pm - ☸️  Danny 心: 

Finger print even more easier to hack.

5/3/24, 1:45 pm - +KL: This message was deleted

5/3/24, 1:47 pm - ☸️  Danny 心: 

Luckily the Minister cybersecurity - very careful in this topic.

And alot of resources commited on anti-spoof biometric measures.

Still work in progress.

5/3/24, 1:49 pm - ☸️  Danny 心: 

Because fingerprint unlike facial biometric - have liveliness properties - that are more difficult to hack.

Fingerprint are static print.

5/3/24, 1:49 pm - +KL: Once hack it gone forever right

5/3/24, 1:49 pm - +KL: Cos u only have 1 face

5/3/24, 1:50 pm - ☸️  Danny 心: 

Yes.

This is the message I communicated to the Minister (face to face).

She take it very seriously.

Alot of government resources are committed to find a solution.

In fact the whole world is scrambling to find a solution to biometric security. <This message was edited>

5/3/24, 1:52 pm - +KL: That why I think finger print better cos alway remind 5 finger don’t use unless emergency <This message was edited>

5/3/24, 1:52 pm - +KL: Actually app use Face ID should only  use stable for Face ID. Not half plus six already start to use <This message was edited>

5/3/24, 1:53 pm - ☸️  Danny 心: 

Now don't use first until and unless failsafe biometric security are developed.

Just like moneylock. <This message was edited>

5/3/24, 1:55 pm - ☸️  Danny 心: 

Moneylock is failsafe and foolproof.

Because the 2nd authentication is out-of-band from digital authentication whereby scammers unable to masquerade.

5/3/24, 2:00 pm - +REACH: 📢 *Topic* 📢

5/3/24, 2:05 pm - +KL: Currently unemployed data if I not wrong don’t include those unemployed more than 6 months as well as taxi phv driver ( under self employment) . Actually once u include them in as underemployment if the statics is shock I think u need to think what is good or bad. U can have a set of data for public but internally you must know what happen . What is good or bad . If the data come out not good like ur blood test you still eat more fat  mah ? <This message was edited>

5/3/24, 3:03 pm - +REACH: *Dear Contributors*

We want to *HEAR MORE* from you! 

💬 *What are your thoughts on the increase of retirement and re-employment age to 64 and 69 respectively from 2026? What more can the Government do to ensure that our seniors are supported in their journey from re-employment to retirement?*

We have had good feedback from this group, and we hope that we can keep the discussion robust and active!

Megan 😊

5/3/24, 3:14 pm - +Frankie Wee: At 64 and 69 they have a choice to re-employment either retirement.

Life has different journeys between young and old. Some of them don’t mind to work at old age instead of retirement.

5/3/24, 3:15 pm - +Frankie Wee: Retirement may not least enough CPF saving, if they don’t have millionaires saving.

5/3/24, 3:39 pm - +Rama: No matter how much refill or upskill, what are the options 64 and above!?

5/3/24, 3:40 pm - +Frankie Wee: I believe most likely they have not enough saving CPF

5/3/24, 3:40 pm - +Frankie Wee: Less than they want to contuine work till old age

5/3/24, 3:43 pm - +Frankie Wee: https://www.channelnewsasia.com/singapore/sgh-nurse-81-years-old-never-too-old-4120806

5/3/24, 3:46 pm - +Rama: Agree

5/3/24, 3:47 pm - +Frankie Wee: I would said there is no rule at this age group when re-employment 

However young skill has more activity than old. when time has passed Ai will be more smart than human.

5/3/24, 3:57 pm - +Rama: Exception rather than the norm

5/3/24, 3:59 pm - +Jimmy Chew: Is it because of the plastic bags?

5/3/24, 4:01 pm - +REACH: 📢 *Topic* 📢

5/3/24, 4:16 pm - ☸️  Danny 心: 

Partly not bagging food waste - rats have a field time growing and multiplying as they have plenty of food to grow. <This message was edited>

5/3/24, 4:18 pm - ☸️  Danny 心: 

If at home, you keep waste food overnight without bagging the food waste - ants, cockroaches, lizards will come.

Especially ants, once they come, it will never stop despite cleaning the trail up diligently. <This message was edited>

5/3/24, 4:20 pm - ☸️  Danny 心: <Media omitted>

5/3/24, 4:20 pm - ☸️  Danny 心: <Media omitted>

5/3/24, 4:20 pm - ☸️  Danny 心: <Media omitted>

5/3/24, 4:22 pm - ☸️  Danny 心: 

My kitchen and toilet don't have any pest infestation problem.

After charging plastic bags, I can't bag and dispose off food waste properly - now i get ant infestation problems and cannot get rid of it.

All thanks to the plastic bags charges. <This message was edited>

5/3/24, 4:23 pm - +Frankie Wee: I think this come from wall when getting moulds in the ant or insects

5/3/24, 4:25 pm - ☸️  Danny 心: 

That's why I quite annoyed with the plastic bags charges that trigger my house pest infestation and the rat infestation throughout the island.

Seems like feedback is not getting through or simply ignored. <This message was edited>

5/3/24, 4:26 pm - +Frankie Wee: Why not paint the wall Nippon

5/3/24, 4:26 pm - ☸️  Danny 心: 

How does that help?

My paint is Nippon if I am not mistaken.

5/3/24, 4:26 pm - +Rama: Mine on rare occasions still have cockroaches even though bin is outside the house!

5/3/24, 4:27 pm - +Rama: Odour free!?

5/3/24, 4:27 pm - ☸️  Danny 心: 

Hygiene is important.

Must know how to take care of it.

Otherwise it become a pest and difficult to get rid off.

5/3/24, 4:27 pm - ☸️  Danny 心: 

Maybe not.

Done long time ago.

5/3/24, 4:32 pm - +Rama: Ok

5/3/24, 4:32 pm - +Rama: Yes

5/3/24, 4:34 pm - ☸️  Danny 心: 

Also if NEA merely deploy thermal sensor near hawker centres or coffeeshops - then NEA is missing many rats infestation areas.

At my place, running tracks - there are many rats running around at night.

Same as my block, drainage and rubbish chutes - can sometimes see rats darting in and out.

What a mess.

5/3/24, 4:34 pm - +Anne: Dear G, may I suggest this: do away with the concept of retirement, otherwise, 5 years later, we’ll be having the same old discussion all over again.

We know that there’ll always be people who cannot afford to retire. We know that the CPF minimum sum will keep going up due to the depreciation of our fiat currency. We can also guess that sometime in the future, you will want to delay the payouts of CPF Life from age 65 to age 70 to age 75 and so on. The human hamster cannot stop running on the wheel. So why not just do away with retirement altogether? Then the employers also need not stress about the “R” age. Just continue working till we drop.

To encourage more mature workers to be accepted in the workplace, one idea is to convince employers that mature workers can get the job done at an acceptable pace at a lower cost. Another idea is that mature workers tend to be more dependable and know better what to and what not to say and do. Having salary support, career training, reduction of work intensity and flexible work arrangements are great initiatives that the G and employers can work together to encourage mature workers to enter the work force.

For career training, we need not be obsessed over the certifications like degrees and diplomas. It is more important that the instructor has both working and theoretical experience in the subject matter. I find that taking up short courses with work tend to be more useful.

5/3/24, 4:36 pm - ☸️  Danny 心: 

NEA should do some soul searching on the plastic bags charges - whether to revise it to take into account bagging the household food waste before levying charges on excess plastic bags charges.

5/3/24, 4:41 pm - ☸️  Danny 心: 

The moment I take out my handphone to photo the rats, it ran out of sight into the drain.

Else I will have produce it as evidence - not making it up.

5/3/24, 4:48 pm - +Frankie Wee: 5 years later having the same discussion all over again.

Because our politicians and economic decisions to change therefore alway happen at time of age and upskill. 

If you use the old machine and higher technology will change fast. 

Development alway.

Human lifecycle move and move never end till reach the climate age too old.

5/3/24, 4:52 pm - +Frankie Wee: I asked if the government can grant top up to all old age so they will be able to retirement through the income come interest rate we earn as pension. (Something like ideal politicians for older with pension)

5/3/24, 5:00 pm - +Frankie Wee: After they passed away then all grant return to govt. Will it helpful?

5/3/24, 5:12 pm - +Jimmy Chew: I am all for the nerdy. There a fine balance between those who can support themselves and those who mismanage their funds. It's hard to differentiate. Like other countries , too many handouts and folks don't want to stand on their own and abuse the system and become helpless citizens

5/3/24, 5:12 pm - +Rama: Agree

5/3/24, 5:25 pm - +Smiley face: This message was deleted

5/3/24, 5:42 pm - +Smiley face: This message was deleted

5/3/24, 5:47 pm - +Bhavani: Hi I think the elderly are being looked down upon. We can't just force the elderly to work till they drop dead. That's not fair to them.

5/3/24, 5:48 pm - +Frankie Wee: Living alone without retire

5/3/24, 5:48 pm - +Bhavani: We must respect human rights if we are a humane society

5/3/24, 5:49 pm - ☸️  Danny 心: 

I don't think government will force the elderly to work if they don't want to.

But for those who want to work, they are given the means to do it and not get shut out.

5/3/24, 5:49 pm - +Bhavani: No point calling ourselves first world if we  don't respect human rights

5/3/24, 5:52 pm - +Frankie Wee: Nowadays elderly keep complaining all time money and money 🫣

5/3/24, 5:53 pm - +Smiley face: This message was deleted

5/3/24, 5:55 pm - +Jimmy Chew: Haha salary is 1600

5/3/24, 5:55 pm - ☸️  Danny 心: 

There are many elderly not working, shaking legs and spending time in air con food courts with friends or with their spouses.

They are not force to work and they seems to be enjoying lives.

However, I also see some elderly still prefer to work at old age to earn pocket money and pass time.

No one are "force" to work if they don't want to.

5/3/24, 5:55 pm - +Smiley face: The past low wage workers are now over 65 years or older, many of whom are either not having even the minimum sum or very low minimal sum in their OA+MA. Some even don't have CPF at all. Why?

Those who opted to not join CPF then perhaps don't trust CPF and the hidden truth is to evade income tax?

Consequently, today, we  are seeing some of these seniors unable to cope with the COL and MSF coupled with Charity came in to help them tie through month to month.

5/3/24, 5:55 pm - +Jimmy Chew: Or 10 to 12 dlrs an hour

5/3/24, 5:57 pm - +Bhavani: We must also respect human rights if we want other countries to also respect human rights. We   must be a role model. Only then will the environment, animal rights and human rights be protected

5/3/24, 5:58 pm - +Frankie Wee: Their contribution reduced

5/3/24, 5:58 pm - +Smiley face: When you are relaxing, it means you have money somewhere in your pocket, your home or in the bank!

Second, an overseas experience tells you....you will notice and know if a person is poor or short of food by the physical build .... that's a fact!

5/3/24, 5:59 pm - +Frankie Wee: But cash in bank is a lot of they can able to save up to 5-10 years nett egg

5/3/24, 5:59 pm - +Smiley face: Yes, lower wage = lower contributions

5/3/24, 6:00 pm - +REACH: 📢 *Topic* 📢

5/3/24, 6:00 pm - +Frankie Wee: Whom born in 1950s will really hard educated for them to understand CPF

5/3/24, 6:05 pm - +Smiley face: This message was deleted

5/3/24, 6:08 pm - +Rama: Retirement planning starts from your first job!

5/3/24, 6:11 pm - +Smiley face: Yes and start learning how to grow the money for retirement!

5/3/24, 6:12 pm - +Smiley face: This message was deleted

5/3/24, 6:14 pm - +Rama: Wisely according to your risk factor!

5/3/24, 6:15 pm - +Rama: Unfortunately, millennium generation lack foresight in planning for retirement years!

5/3/24, 6:24 pm - +Smiley face: This message was deleted

5/3/24, 6:45 pm - +REACH: *Dear Contributors,*

⏰ We will be closing the chat in *15 minutes* ⏰

Thank you very much for being part of our WhatsApp chat and participating actively.

Goodnight!

Megan 😊

5/3/24, 6:54 pm - +Smiley face: 5 March, 2024

"Long time ago and the longer tomorrow"

(“很久很久以前，很久很久以后”)

"As though yesterday was today? You are able to reimagine yesterday once more and swiftly you continues working for the longer tomorrow!"

-- anonymity 

Retirement or Re-employment?

It's linked to the past of individuals from the day one started a job to the day one retires or continue into the longer tomorrow of Re-employment or reployment to other role or continuing the same job or semi-retiring or just Retired. All of these possibilities of the longer tomorrow to come are never stable nor it is a surity of fitting and matching from the perspectives of both the employer and employee. 

So how to survive life uncertainties and anxieties? Besides giving assurances from grants to Skillsfuture and lastly, our CPF in assuring our ageing workforce to softer landings or just in case, we have jobs readying for all ? Are all of these measures really enough to weather through the perfect challenges of an ageing workforce and the fact of an accelerating ageing nation?

What are the common reasons for ageing workers to continue working?

Often enough is to sustain through the days of ageing seniors to self reliance on the COL without burdening others and it's good for mental health.

$2,000 or $3,000 or more?

So how much money is enough to sustain till the day a person is unable or in all cases of retirement is health issues that caused seniors and ageing to suddenly turning into a crisis of dependency on either little savings or no savings and the monthly CPF money is insufficient to ride the longer tomorrow to come. In some instances, individuals from mid-life onwards do not have sufficient CPF or the minimum sum when due age for retirement, there will always be ageing seniors or the elderly no longer have the abilities and means for tomorrow expenses. That's a big concern for all of society to address and find solutions to deal with the spectrum of inevitables and unfortunate outcomes. Just how many of such dire strait cases will there be long before 2030 or 2035 or 2040?

Frugality just not good enough?

"Every thousand dollars saved is another chance to spend later in life. A thousand dollars put into safe investment is another chance to redeem it when you need money later on in life."

-- anonymity

Is it also timely to educate our young workers the art of investments and the plannings for retirement at various age against the timeframe of the numbers of productive years?

It's not as simple as time value of money nor simply locking into insurance plans or putting all money into other alternative investments.

Perhaps, it's a personal choice, know-how and long term view of what are your needs versus future needs and the existing abilities to invest in fixed deposit as a starting point, earning, savings and learning more about investments as a way to offset future expenditures. And saves as much as you can when young and don't be overly greedy!

As a person aged, the spending power and needs to spend all changed when compared to the rest of the population. We assumed up to 80% of our ageing population have sufficient savings and their CPF - OA & MA both enough to cover through the age of 90 years old. The 20% of the ageing population abilities to sustain through old age can be challenging to most and all of our seniors tend to be frugal with their spending habits. The overall Greying situation may look gleaming but on the brighter side of reality, it should be alright for many of our be ageing people.

Rigid or flexible or pride and dignity of the older workers mindsets will determine the  future working life especially experience of more than three decades. The mindsets of these older workers may not necessarily be as flexible as employers want them to adapt to the present requirements which is performance driven on the back of the mind of management is always productivity. How older workers cope with the pre-existing working requirements from efficiency to effectiveness  before any company will do to hire older workers. Will these workers adapt to the younger workers or adopting brand new ways of doing and putting aside long ago ways of doing the job?

How to qualify and quantify roles for the older workers?

To hire is the first try to source from the pool of experienced senior workers and second is to assess the capabilities and abilities in each of the employees.. The third move is to oversee the actual onboarding of these workers.  Finally, the overall workplace dynamic of merging and matching duties, responsibilities and most of all, the morale and attitudes of all staff regardless of age or gender. And how management see 

What jobs are most suitable and attractive to Ageing workers?

Perhaps, most older workers will tell you that they are looking for not so stress, no too long hours and may be a shorter working week? On the top of these aspirational wishlist, one perceivable and clear message is to work less and pay should not be lesser than the minimum wage tolerance of a semi-retiring worker or a re- hired worker that performs like yesterday once more and swifter too? 

As our age grow older each day, there are needs to carefully take goid care of health and by staying active throughout the lifetime is one way in staying fit and hopefully less illnesses and preventions always better than cures. That's the importance of active ageing!

            - - in progress - -

5/3/24, 7:00 pm - +REACH: *Dear Contributors,*

We will be closing the chat for today.

Thank you very much for being part of our WhatsApp chat and participating actively.

Goodnight!

Megan 😊

5/3/24, 7:00 pm - ~ REACH Singapore changed this group's settings to allow only admins to send messages to this group

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