Remembered the news last evening on age 62 being too early for retirement. Recently I just got a earful from this guy when I referred him for job assistance. I still remember he said something like "Not everyone is like our Minister Mentor, if you want to work at our age, no one's really keen on employing you. Well, unless you're the Minister Mentor."

I just tried to encourage him to at least try. I know he's been trying and I hope that he's got some news now. But I know chances are slim.

Raising the retirement age is not feasible right now. Fortunately they are not doing that now (guess it's not because they don't want to but they can't) but it will surely happen in this decade or the next. What MM Lee is talking about requires a huge change of mindset. I don't think retirees will mind a lower wage but it's not easy to get employers to employ people over the age of 62. Those who are over the age of 62 now are mostly not that well-educated. Maybe ten or twenty years down the road, it may sound more probable. Besides, the age for CPF withdrawal is age 55. If the legislated retirement age is raised, it will mean that people will have to wait more than 7 long years to get their monthly payments from their Retirement Accounts. More than 7 long years. Turn into a cow and eat grass in that period of time. Because most Singaporeans are asset rich and cash poor. When we get a sum of money at 55, most probably many of us will be too happy to spend it and do not think that much about saving it for a rainy day.

We need time. Time for our citizens to be more well-educated. Time for our employers to be more receptive. Time for us to learn more on the importance of retirement planning. Perhaps only then, we can see more of the elderly in the workforce.

Not that I'm that keen on working beyond age 62. I hope I will not need to work then. I want to enjoy my golden years. Heh. =)