SINGAPORE : Half of Singapore’s workforce are not willing to work beyond the age of 60, according to a survey conducted by The Nielsen Company.

The survey showed that the 550 working adults polled had different ideas about what the ideal retirement age should be.

But only 5% said they wish to remain in the workforce till they’re 65.

10% said they would never want to retire while 36% said they would like to retire by 55.

Another interesting find from the survey was that 54% of the respondents said they feel that they need over S$1 million to retire comfortably.

34% blue collar workers said they are unsure that they can afford to retire. 22% of white collar workers felt the same. The percentage drops to 14% when it comes to PMEBs (Professionals, Managers, Executives & Businessmen).

“We have learnt from the study that the ideal retirement age varies widely among the working population; some want to retire as early as under 40 years old, and some who never want to retire. While PMEBs are considerably more certain when they can afford to retire, the same is notably less apparent among the other white collar and blue collar professionals,” said Connie Cheng, Associate Director for Customised Research, The Nielsen Company, Singapore. - CNA /ls

Source: Channelnewsasia.com