Singapore to raise retirement age to 68!! - 28 Oct 2010

SINGAPORE: 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.

Mr Lim, who's in Finland accompanying President S R Nathan on his state visit there said Singaporeans need to work longer as their life span increases.

That is because they need to accumulate more for their old age.

Mr Lim who is also the minister in charge of issues on ageing in Singapore, cited Finland as an example, and will use this trip as an opportunity to study how the Finnish are dealing with their ageing population.

Mr Lim added there are areas that Singapore can emulate. One of which is to mobilise the elderly to organise themselves and form retirement communities that can provide mutual support and friendship.

A law that will make it mandatory for employers to offer re-employment to workers beyond the age of 62 will be in place by 2012.

"We are raising the retirement age, through the process of re-employment from the current 62 to 65 in January 2012. Beyond that we would have to examine how we can further raise the retirement age. In Finland, they have raised it to 68, so it gives us an indication about where we should be heading.Because the Finns are not living longer than us, we have a life expectancy of about 80, I think the finns are little less than us," said Mr Lim.

Category:

News & Politics

Tags:

• Singapore
• Minister
• Prime
• Minister's
• Office
• Lim
• Boon
• Heng
• Finland
• Retire
• CPF
• life

[Notlisteningagain]

Seow. Work till life ?

[makpuki99]

THIS PROVES WHY SINGAPOREANS HAVE TERMINATED ALL $MILLIONS$ SERVICES OF PAP MEMBERS IN PARLIAMENT BECAUSE OF THEIR LACK OF FORESIGHT, INITIATIVE AND POOR LEADERSHIP VIEWS TO MATTERS THAT REQUIRES THE WELL BEING OF SINGAPOREANS AND OF THE NATION.

PERIOD

[thekagezchannel]

lol 2012? well its as good as not raising it :3

[moonraiser80]

they want us to on par wif finland but dun dare to tell us tat finland working weeks is only 35 to 40 hours. Ask yourselfs.. how many hours do you work per week lol.

[moonraiser80]

lol Sinkaporean are so OWNED!!!!!!!!!