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Thread: Too old to worK till 65?

  1. #1
    Senior Member Sion's Avatar
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    Default Too old to worK till 65?

    With long life expectancy the authority is proposing that:

    Legal age for retirement will have to go up from 62 to 65 and to 67.
    Do you think you'll be too old to work till 65?

    If it's a physical work of course 60 cannot tahan already.

    Even if it's a white collar job don't know whether after 60 can tahan the stress level or not unless companies give relatively relaxing job with high pay for the older workers. But where got such luxury one?

    Also must think about the rapid technological progress that an older worker has to keep on catching up.

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    Senior Member sammy888's Avatar
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    Default Re: Too old to worK till 65?

    Quote Originally Posted by Sion View Post
    With long life expectancy the authority is proposing that:



    Do you think you'll be too old to work till 65?

    If it's a physical work of course 60 cannot tahan already.

    Even if it's a white collar job don't know whether after 60 can tahan the stress level or not unless companies give relatively relaxing job with high pay for the older workers. But where got such luxury one?

    Also must think about the rapid technological progress that an older worker has to keep on catching up.

    You saw the front page story in the Straits Time huh? I was wondering when it will come around to our favorite local papers talking about this. It sounding more like an advance "softening ground work" prior to tell you that you will soon be told you will only get your CPF even later now in your life and the takeout amount you might be allowed will be even smaller and so stop dreaming of getting it "sooner" at 55 years old. So now they will start to lay it really "thick" as to justify this and punching out staticial figures, a few more sporatic stories of folks still working at an even older age to prepare us for the "good" news. Well it is after all for your own good. *smirk*
    Last edited by sammy888; 18th August 2007 at 09:01 PM. Reason: typo

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    Default Re: Too old to worK till 65?

    the gahment should encourage people to work beyond 80 by allowing cpf withdrawal at 85.

    [QUOTE=sammy888;3315865]You saw the front page story in the Straits Time huh? I was wondering when it will come around to our favorite local papers talking about this. It sounding more like an advance "softening ground work" prior to tell you that you will soon be told you will only get your CPF even later now in your life and the takeout amount you might be allowed will be even smaller and so stop dreaming of getting it "sooner" at 55 years old. So now they will start to lay it really "thick" as to justify this and punching out staticial figures, a few more sporatic stories of folks still working at an even older age to prepare us for the "good" news. Well it is after all for your own good. *smirk*[/QUOTE]

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    Senior Member Sion's Avatar
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    Default Re: Too old to worK till 65?

    No lah. It's not just a discussion about governmwent's policy. It's about the world-wide trend to work longer.

    Used to be 55 after that doing some small small business or helping to look after grand kids.

    Probably 60 would be the ideal age to retire leaving you enough time to do what you always want to do.

    Another thing the state (not just Singapore) is worrying about the huge burden of financing pensioners and old age care. However in this day and age in an Asian extended family context whether letting the younger generations taking care of the retirees has gone out of fashion?
    Last edited by Sion; 18th August 2007 at 10:06 PM.

  5. #5

    Default Re: Too old to worK till 65?

    the world is getting more selfish and materialistic.

    children nowadays are not going to look after their parents.

    parents have time to give birth, but no time to play with kids, and the maid becomes the mother.

    old folks will soon have to look after themselves. no more such thing as retirement if you don't have lots of spare cash.

  6. #6
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    Default Re: Too old to worK till 65?

    think v hard to find job above 40yrs, dun say 50yrs+ loh. now i kno y ppl queue buy Toto. most cant afford retirement.

  7. #7

    Default Re: Too old to worK till 65?

    Quote Originally Posted by sORe-EyEz View Post
    think v hard to find job above 40yrs, dun say 50yrs+ loh. now i kno y ppl queue buy Toto. most cant afford retirement.
    the agism is quite bad here, gov should do something about discrimination in the work place.

  8. #8

    Default Re: Too old to worK till 65?

    Quote Originally Posted by Sion View Post
    Do you think you'll be too old to work till 65?
    MM Lee so old already still working leh.....

  9. #9

    Default Re: Too old to worK till 65?

    then you'll see unemployment figures rise.
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  10. #10

    Smile Re: Too old to worK till 65?

    if one needs to eat, then one need to have $ to continuing eating. no free lunch here.

    these talks about having/raising retirement age is meaningless. no retirement allowed here. must work and support oneself. with minimum sum, etc, said compulsory annuity in place, how to retire with such low monthly payouts. i am afraid this is the reality.


    Quote Originally Posted by Sion View Post
    With long life expectancy the authority is proposing that:



    Do you think you'll be too old to work till 65?

    If it's a physical work of course 60 cannot tahan already.

    Even if it's a white collar job don't know whether after 60 can tahan the stress level or not unless companies give relatively relaxing job with high pay for the older workers. But where got such luxury one?

    Also must think about the rapid technological progress that an older worker has to keep on catching up.
    Last edited by reachme2003; 19th August 2007 at 09:46 AM.

  11. #11

    Default Re: Too old to worK till 65?

    I think you guys forgot that the CPF monies are our own hard earned monies. So what financial burden on the G you guys are talking about....

    Some people have no choice but to stay in an establishment because leaving it could prove fatal- it doesn't mean everybody's life circumstances are so.

    If I were to say to you that you can only take your money at 88 years knowing on national average you won't live past 75, what will that mean to you? I can't imagine that on my deathbed I was lamenting on not being able to spend a single cent of the 100k I'd accumulated over a lifetime of hard work earned with toil and pain because someone is holding on to it and refusing to give it back to me.
    Last edited by eyes; 19th August 2007 at 12:17 PM.
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    Default Re: Too old to worK till 65?

    Quote Originally Posted by garou12 View Post
    the agism is quite bad here, gov should do something about discrimination in the work place.
    wad should b done should b long done loh. y wait till now? any problem worth solving should have started long ago, not wait till its "alittle" bigger...

    Quote Originally Posted by liveevil View Post
    MM Lee so old already still working leh.....
    eh, there is oni 1 MM Lee. he's old, he's gold (or platinum!), but d rest of d grey population?

  13. #13

    Default Re: Too old to worK till 65?

    For the average man in the street, if you plan to live long, chances are, you gotta work longer and retire later.

  14. #14
    Senior Member sammy888's Avatar
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    Default Re: Too old to worK till 65?

    Quote Originally Posted by kiwitan View Post
    the gahment should encourage people to work beyond 80 by allowing cpf withdrawal at 85.

    [QUOTE=sammy888;3315865]You saw the front page story in the Straits Time huh? I was wondering when it will come around to our favorite local papers talking about this. It sounding more like an advance "softening ground work" prior to tell you that you will soon be told you will only get your CPF even later now in your life and the takeout amount you might be allowed will be even smaller and so stop dreaming of getting it "sooner" at 55 years old. So now they will start to lay it really "thick" as to justify this and punching out staticial figures, a few more sporatic stories of folks still working at an even older age to prepare us for the "good" news. Well it is after all for your own good. *smirk*
    [/QUOTE]

    There is the say..."the flesh is willing but the body is not" too. heeee... The ration of one still fit and mentally alert old chap versus how many out of shape, mind already gone retired mentality do you see out there? I am in my mid 40s and I already see that among some of my peers or just touching 50. The problem is not going away anytime soon and will worsen as each generation marry later or stay single like me....I know I will do my darnest to keep up with the younger ones and still do it but how many has alreadt not just stop but find it hard to do so as some people do age quicker then others and become less competative and worst competing with other old "farts" too hehe... Jokes aside...this is serious problem in general I do admit but I hope "others" of authority DON'T USE THIS to their own advantage to further their own political or monetary agendas while the REAL PROBLEM ABOUT THE AGING ISSUE locally or Internationally is ignore. It is not just the govts but other institutions too who would act as fear mongers to take advantage of the situation. I doubt I would be that uninformed to not know but there will be those who would.

  15. #15
    Senior Member sammy888's Avatar
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    Default Re: Too old to worK till 65?

    Quote Originally Posted by liveevil View Post
    MM Lee so old already still working leh.....
    He writes his own rules don't you think? I respect the old guy and he has no doubt done what few true blue Singaporean could have done be it with the iron will or fist as sometime is required especially in the early years....but...you could still help the nation as an adviser withouth the high pay or the status to do so. Too unwillingly to let go? As a lengendary figure, your reputation is more then enough to carry you forward and be invited if not even sort out without your need to invent a new title after each succession. What would his new "monogram" be if his son steps down? This is not being unrespect folks don't get me wrong as much sometime I don't agree with the our govt but this as a Public Relation thingy..does not bore well and just gets under people skin. This just perpetuate people into thinking there is a cover up somewhere.

    But coming back to your remark..well...how many able thinking 80 year old have you seen so far around your neighbourhood? This is like school days or working life. It is like a triangular drawing of a company structure. At the bottom the width is wide meaning alot of people..the junior staff as you go up the triangle, you have the middle management and as you go higher, you have the senior...so on and so on. Same goes for old folks too..you see more less capable and slower individual then you would see every single one being fit as a fiddle.

    Butyou pluck out a few success stories from near and far and you string them together and depending on how you write it...you could convince people that they really are alot of very fit, mentally alert, very uptodate, healthy looking people we can tap to do work. There again...what kind of "work" are they talking about? Presently how many of us here are already pulling longer hours and sometime even that is not enough and they want to hire even more better people then us who can work faster and even longer hours...worst a job that does not even give you the time to socialise or worst time to make babies or get a wife ( and life!) This is not a govt bickering thing ...just thinking out loub lah....your typical kopitiam chattery that will usually go no where fast! heheheh..

  16. #16
    Senior Member sammy888's Avatar
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    Default Re: Too old to worK till 65?

    Quote Originally Posted by eyes View Post
    I think you guys forgot that the CPF monies are our own hard earned monies. So what financial burden on the G you guys are talking about....

    Some people have no choice but to stay in an establishment because leaving it could prove fatal- it doesn't mean everybody's life circumstances are so.

    If I were to say to you that you can only take your money at 88 years knowing on national average you won't live past 75, what will that mean to you? I can't imagine that on my deathbed I was lamenting on not being able to spend a single cent of the 100k I'd accumulated over a lifetime of hard work earned with toil and pain because someone is holding on to it and refusing to give it back to me.
    If you take your money out at 75 or 88....frankly bro...to me that is "coffin and funeral" expense money and the left overs...your next of kin can get them cash without worry about the age rule.

    Seem the only way you get get the money without fuss would be if you die for it. Makes you think that you need to try to get your parents to die soon so you can get to their CPF with no age rule to stop you and then you get done the same by your kids. I could be dying at 50 yrs old of some illness and badly need the money for the cure..no one to lend from, no family to help out financially but only touch my medisave in my CPF (and the govt of course hope you smart and well off enough to buy some health insurance just in case to further supplement the bills) and the rest even if it is a few hundred thousand dollars in your normal CPF account.....you can't touch it far as I know. It is like looking at your money through an unbreakble glass window from the outside looking in as you lay dying. Tell me if I got this part wrong please. Does this make sense?

    Want to delay us taking back our own money for our own good..that is good and fine. But I am all for some further changes to the terms and condition on what special circumstances I CAN get to take it out. Heres the funny part...but they allow you to invest it in some of the special bonds and shares that is "approved" by the authority. Problem is...you CAN lose money in that way but that seem "okay" to lose it that way...as investing or speculating is a two way street. Fine if so...don't let us use it for investments like that. New Rules to befit the modern times that is what I want to see. Will I? I don't know...what I know is...here I am in no need to get a house, I have my mom living with me along with my sis and family. We have no need to get a new house and be indebt to some bank over a new property and each time I get an update on my CPF and I see the amount there ....and you keep hearing more and more news that the sum in my account is being pulled further and further away from my grasp each time I get nearer to it. It's almost like the donkey and the dangling carrot infront of him to make him keep moving forward.

    Damn I am in a silly ranting mood today heheh..sorry guys...just getting some stuff off my chest.

  17. #17

    Default Re: Too old to worK till 65?

    Quote Originally Posted by Sion View Post
    With long life expectancy the authority is proposing that:



    Do you think you'll be too old to work till 65?

    If it's a physical work of course 60 cannot tahan already.

    Even if it's a white collar job don't know whether after 60 can tahan the stress level or not unless companies give relatively relaxing job with high pay for the older workers. But where got such luxury one?

    Also must think about the rapid technological progress that an older worker has to keep on catching up.
    Maybe those above 60 should apply for work in the government's Ministries and depts ...
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  18. #18
    Senior Member sammy888's Avatar
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    Default Re: Too old to worK till 65?

    Quote Originally Posted by Canonised View Post
    Maybe those above 60 should apply for work in the government's Ministries and depts ...
    To see IF they will really live up to their talk? That's a good idea. heheh...

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    Default Re: Too old to worK till 65?

    Quote Originally Posted by eyes View Post
    If I were to say to you that you can only take your money at 88 years knowing on national average you won't live past 75, what will that mean to you? I can't imagine that on my deathbed I was lamenting on not being able to spend a single cent of the 100k I'd accumulated over a lifetime of hard work earned with toil and pain because someone is holding on to it and refusing to give it back to me.
    You've got it in reverse, my fren, average lifespan is already over 80 years and current drawdown is at 62. The intent is for drawdown to occur at round 10-15 years prior to death (on average). Hence the need for adjustment. Your example is entirely hypothetical and does no one any good. Besides, the agency doesn't gain by you perishing early, the money needs to be released to your NOK anyway.

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