What does retirement life look like in Singapore? What does it mean to 'actively age'? We find out when Singaporeans want to retire, and how they envision their retirement lifestyle to be.
Watch more: https://www.asiaone.com/video
Watch more: https://www.asiaone.com/video
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LifestyleTranscript
00:0065, definitely not.
00:01If it's within my physical capabilities, I would.
00:04Ideally not, I don't want to work.
00:06I want to save up money so that I don't have to work past the age of 65.
00:111 in 4 Singaporeans is projected to be aged 65 and above come 2030.
00:16To better help seniors age well in their homes and communities,
00:19Singapore is planning to scale up to 220 active ageing centres by 2025,
00:25such that 8 in 10 seniors will have one active ageing centre near their homes.
00:29Seniors, much like their younger counterparts,
00:31need outlets to keep them active and stimulated physically,
00:34mentally as well as socially to age well,
00:36with staying employed being a possible avenue for doing so.
00:40We wanted to find out what the ideal retirement life looks like for Singaporeans.
00:44Asia One recently did a survey which received 1,092 valid responses.
00:49Of the people we interviewed, more than 2 in 3 respondents
00:52wish to work at least part-time beyond 65 years old, if their health allows it.
00:57Among them, helping them stay physically active,
01:00as well as giving them a sense of purpose were the most common reasons for remaining employed.
01:04As for respondents who answered with maybe,
01:07flexible work arrangements, maintaining a stream of income and having meaning and purpose
01:11were possible motivations for them to stay employed beyond 65.
01:15For respondents that did not want to work beyond 65,
01:19not wanting any more work stress and desiring to enjoy more unscheduled time
01:23were the most common reasons for not wanting to continue working.
01:27When asked if they desired more opportunities to connect with others outside of those they live with,
01:31more than half of respondents aged 45 and above agreed to varying extents.
01:36However, outside of the workplace, only 30% of respondents aged 45 and above
01:41spent two hours or more interacting with others face-to-face on a weekend.
01:45To expand on our findings, we wanted to find out what Singaporeans thought would help them age better.
01:50I most likely will be working either a full-time job or a part-time job
01:54or intends to travel around the world more.
01:56I wanted my retirement life to be somewhere, you know, by the beach.
02:02Just like, you know, spending some time with my significant other.
02:06At home, I was spending time with my children.
02:09Financially stress-free, but I would definitely want to keep my brain working
02:14so I would think that I would have some hobby for sure.
02:18Maybe either gardening or exercising for sure, like I'm doing that now.
02:23So, I hope to keep that until, like, the day I die.
02:26I don't agree much that you stay at home after 65.
02:32If you can, possibly, healthy physically, you should come out to work to contribute to the government.
02:40I think it really depends.
02:42When we say work, like, what do we really mean?
02:45Is it something that we feel passionate about?
02:47Or is it something that we need to do because we really need the money at that point of time?
02:54Honestly, I think by 65, right, I should be retired already.
02:58Because at that point, I think, like, I already work enough
03:02and I should, like, relax and just enjoy life.
03:06Yes, if I get the opportunity to work, but I will be more likely to go back to my daughters
03:12because they're all staying in Australia.
03:14Honestly, if it's within my physical capabilities, I would.
03:18Ideally not. I don't want to work.
03:20I want to save up money so that I don't have to work past the age of 65
03:25so that, you know, I can actually enjoy much more of the world
03:28rather than, you know, having to work even more even when I'm older.
03:3265, definitely not. Absolutely not.
03:34If I were to work, it's purely out of my own choice, not because I have to.
03:39And like I mentioned before, it's because I want to keep myself, like, my brain working.
03:45I would like to connect more with people outside of work or in school
03:49because I feel like I want to have a more diverse network of friends and people.
03:56Yeah, definitely. I mean, I'm a person who loves, like, talking to people and
03:59yeah, so I think that is really important, especially when you're getting older
04:02because, like, you know, I think you tend to get more lonely when you're older.
04:06So I think having, like, you know, joining clubs or, you know,
04:11like, you know, say, like a running club or, like, a knitting club, I think like that,
04:14or like a book club, that is, like, a really good way to make new friends.
04:18Yeah, for sure, for sure.
04:19No.
04:21And too busy, too packed already. So many things to do. Yeah.
04:24Time is one, schoolwork is also another.
04:26Because I, outside of school, I don't really have time to connect with people.
04:30For me, right now, it would be lack of time because I have shift work,
04:33so I, it rotates every few weeks, so that is a little bit difficult for me right now.
04:38I think time for now, definitely, because I still, I know I'm here on a Monday.
04:44I would rather spend that time with my husband and my family.
04:48Of the people we interviewed, respondents were equally divided
04:52on whether they were open to work past 65.
04:54For respondents who were, wanting to contribute as well as being able to earn more money
04:59were the main reasons why.
05:01Respondents who desired more opportunities to connect with others outside of their work or household
05:05stated that the lack of time was the main reason stopping them from doing so.
05:09So, what do you think?