Retirement Age - 101756T karina

Retirement seems to be one of the most often overlooked areas of people's future plan.Simply because it seems so far away, it is an area that is subject to procrastination.People are expected to live longer now than ever before, this is another reason why young adults and teenagers are not worried about saving for their retirement.

On the 28th of October 2010 Singapore's Minister in the Prime Minister's Office Lim Boon Heng has indicated that the country may need to raise its retirement age to 68.One of which is to mobilise the elderly to organise themselves and form retirement communities that can provide mutual support and friendship.
The best way to be all right in old age and to have enough savings is to stay employed and to work longer.
The Southeast Asian island's government wants to boost the workforce by increasing its population to as much as 6.5 million from 4.5 million over the next 40 to 50 years by allowing more immigrants into the country.

I always felt that the idea of a retirement age is something personal. No matter what the official retirement age is, if you have no money at that point in time, you will still have to continue working.
Nowadays, I am seeing more and more elderly people selling tissues; not just in hawker centers but also in the streets! Some of them are even collecting used metal tin cans from dust bins. I don’t think any one of them would be doing it if they had a choice. The official retirement age probably wouldn’t mean anything to them.
For another group of people, they enjoy their work so much that they will just continue working. The concept of retirement does not even exist.
Therefore,it's always good to plan for your retirement.