Retire later, die earlier
-
Retire later, die earlier
Posted by theonlinecitizen on July 7th, 2007
By Yeo Toon Joo, Peter
Retire early and die young. That was what I had been led to believe some years ago. But now another study says the later you retire the shorter your life.
Statistics, including Boeing AerospaceÂ’s, support the second conclusion, i.e. people who are still slogging away at the daily grind after 65 usually die within 18 months of retirement. Those, like I, who retire at 55 or earlier, tend to survive into their 80s (see summary of study below).
The study of BoeingÂ’s retirees show that an employee loses on average two years of his life span for every year he remains at work beyond 55!
A report on Optimum Strategies for Creativity and Longevity by Sing Lin, PhD, also quotes Nobel Laureate Dr. Leo Esaki that the most precious, creative and innovative period in a personÂ’s life is during his/her late 20s and early 30s: most Nobel Prize winners did the work that won them their prize at around 32 though it was usually awarded only 10 or 20 years later.
Read the rest of this entry » http://theonlinecitizen.com/2007/07/07/374/#more-374 -
What is retirement, in Singapore terms?
I know the word.
But I don't see it, for my case.
Simply because I don't have the money to retire.
In Singapore, the amount of money you have determine if you can retire or not. Not your age.
There are people who retire at 45.
Therefore retirement age in Singapore is just pyrrhic. -
Firstly, let me point out that the longer one remains working in Singapore, especially beyond 55, the government will continue to collect Tax and or CPF from them. This is the whole scheme of getting locals to continue working even beyond 70. But relevantly, even if people are willing to do so, are there jobs or employers WILLING to hire someone at this age???
Next, do you really think our All-Knowing and Righteous Government believe or even entertain a thought towards what you just posted???
Their objective is to continue collecting money from locals regardless of age, as well as from foreigners, and remain in power for all eternity....
Personally, I think they may succeed in the first two objectives, but they can never be in power for all eternity.....
With all the crap they been dishing out all these recent years, and for the past decades... I say something's gonna give mighty soon.... -
One more thing, in Singapore, I noted that more and more people are dying earlier than in the past...
What you think the cause is?? -
actually this study was done for pple doing hardcore/scientific research.
might not be indicative for pple in other areas
-
Could you then explain why CPF contribution rate will decrease from 40% to max 5% when you hit 65? Havent you forgotten that majority of lower income earner doesnt pay income tax?Originally posted by ShutterBug:Firstly, let me point out that the longer one remains working in Singapore, especially beyond 55, the government will continue to collect Tax and or CPF from them. This is the whole scheme of getting locals to continue working even beyond 70. But relevantly, even if people are willing to do so, are there jobs or employers WILLING to hire someone at this age??? -
40%, 5%, is it still not money?Originally posted by Gazelle:Could you then explain why CPF contribution rate will decrease from 40% to max 5% when you hit 65? Havent you forgotten that majority of lower income earner doesnt pay income tax?
They are looking into "getting" Lower Income earners to contribute CPF as well.. so that they can "benefit" from WorkFare Bonus every year...
monthly contributions to CPF 5% or whatever percentage, is still a substantial amount to a Lower Incomer.. and for what? For that ONCE A YEAR WorkFare Bonus.. for fark...? -
totally agree
-
How does the result take into account that some people are forced to retire when they become too ill to work?
-
Have you come across those who were in their 50s, who were retrenched due to their medical conditions (such as Diabetes, High Blood pressure, etc. - but company refuses to say it is due to this) and they can't find another job because of age and medical conditions? Yet, they are not allowed to use their CPF money to treat their medical conditions while they are jobless?Originally posted by Kuali Baba:How does the result take into account that some people are forced to retire when they become too ill to work?
The government's so called "Social Safety Nets" are potential death traps!