Retirement
Retirement seems very far for us. During 19 August 2007, Singapore Prime Minister announced that the retirement age will rise from 62 to 65 by 2012. In the recent years, Mr Lim Boon Heng announced that Singapore may need to raise its retirement age from 65 to 68 due to the increasing population in Singapore and people are having a longer lifespan than before.
Prime Minister, Mr Lee Hsien Loong did say that: "The best way to be all right in old age and to have enough savings is to stay employed and to work longer. Because with longer lifespan, you cannot retire at 55 and live until 80 or 85 or 90," I agreed with what PM Lee had said. If we have a chance to continue working at an old age, why not? This can allow us to enjoy better life when we retire.
In February this year, the government in Singapore introduced an income-support scheme called "workfare" aimed at providing financial support to older, low-income workers.
From this, I can say that Singapore government is trying their best to help Singaporeans to allow them to enjoy better life when they reach their retirement age.
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