Singaporean Prime Minister said that the Singaporean government will be looking at amending the Retirement and Re-Employment Act so that people older than 65 can continue working. The particular move was being negotiated by the unions, employers and the government. However, he said that older workers should also be willing to change their expectation in terms of the pay. It is quite impossible for them to be receiving the same pay because by then, at 65, the workers are no longer as strong as previously. He pointed out that there are 800 civil servants who were rehired out of 800,000 today.
Personally, I do not hope that my parents would need to work beyond 65. In fact they have retired many years ago. Staying in a cosy semi-detached house fully paid for and shopping at Tesco’s every few days. My mum told me that their expenses these days do not go beyond RM1,000 per month except if we are home and she has to buy a lot more. Haha. The Proton Saga is fully paid for and their mobile phones were gifts from me. I am not sure if anyone would be thinking like me but if my parents said they needed to work because they needed more money, I think between my brother, my sister and myself, we would give them more money and tell them not to work.
Some friends working in Singapore tell me that working there is great because of the strong S$. I think it is true to a certain extent, especially if you are there for a short period of time, save as much as you can and do some effective investments in Malaysia. However, in my mind, if it is really that amazing, I am not sure why is there a need for Singaporeans to work beyond 65. I have a friend who told me that if he is healthy, he would continue to work beyond 65 and find nothing wrong with it. I told him, I would retire as early as I could and would retire from all the project deadlines, customer complaints, sales target pressure and more. I would love to just travel, with my loved ones and enjoy coffee anytime I think I want. It does not even need to be Starbucks, I am ok with Kopi-O on and off too. Yes, I would love to travel even beyond 65 years of age. As for working for a much lower pay once I reach my retirement age and being looked upon by others as ‘slow’ or ‘yesterday’, I shudder at the thought.
written on 16 May 2014
Next suggested article: Best place always; Retire in Ipoh.