Retirement

S. Korea’s bid to raise retirement age draws criticism, analysts warn against potential repercussions to economy and labour market

The South Korean government’s proposal to raise the official age of retirement from 60 to 65 has received considerable criticism, as experts warn against the possibility of further disruption to the labour market and a widened economic gap in society. Bloomberg reported Mon (14 Oct) that South Korea’s poverty rate among the elderly is the worst out of all of …

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Tan Chuan-Jin urges S’poreans to reframe narrative on ageing society while young and elderly citizens reveal struggle with insufficient retirement funds

The discourse around ageing in Singapore should be reframed into a more positive one, as a “negative narrative can become self-fulfilling”, said People’s Action Party (PAP) Seniors’ Group chairman Tan Chuan-Jin on Sun (13 Oct). Speaking to PAP Seniors’ Group activists at an event to commemorate the International Day of Older Persons at Hotel Miramar, Tan, who is also the …

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Global Retirement Index: S’pore tops list of countries for retirement finances, scores low in quality of life and material wellbeing

Singapore scored first for retirement finances out of 44 countries surveyed in the latest edition of the Global Retirement Index (GRI) for this year. In the GRI report released by Natixis Investment Managers last Fri (20 Sep), Singapore came in close competition with New Zealand in the Finances sub-index, with similar rounded scores of 79 per cent in the past …

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Eight in 10 young Singaporeans believe they will be the next Sandwich Generation, reveals survey by NTUC Income

On Tuesday (3 Aug), insurance company NTUC Income released the findings from its latest research, focusing on the Sandwich Generation phenomenon in Singapore, which shows the harsh realities about how parents and young Singaporeans view their financial future. In the month-long research, 94% of parents (aged 35-55 years old) surveyed revealed that they were currently pressured between having to financially …

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70 per cent of elderly Singaporeans still unable to meet monthly household expenses: Joint survey between Duke-NUS and MOH

A stark majority of elderly Singaporeans aged 60 and older are still unable to meet their monthly expenses, according to findings from a survey of over 4,500 Singaporeans and permanent residents carried out by the Duke-NUS Medical School’s Centre for Ageing Research and Education and the Ministry of Health. The Straits Times reported that only around 30 per cent of …

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