Retirement is a modern concept, mostly absent in pre-industrial societies, and it remains an abstract notion for many in low- and middle-income countries even today. Historically, Chancellor Otto Von Bismarck of Germany introduced retirement with a pension in 1883. At that time, Europe faced Marxist threats, and to protect his nation from such ideology, Bismarck promised a pension to non-working Germans over the age of 70. As life expectancy was considerably lower in the pre-penicillin era, few individuals actually reached 70, rendering the promise economically feasible yet symbolically powerful. In 1916, the German government lowered the retirement age to 65. Thus, the Germans not only established 65 as a global standard for ‘old age’ but also set the precedent that governments should provide financial support to citizens in their later years.
A remarkable achievement over the last century has been the sustained increase in life expectancy worldwide. In Singapore, life expectancy rises by two to three years per decade, currently averaging 85, with women typically living three years longer. For Millennials and Gen Z, reaching 100 may become a common milestone. Today, many live nearly a third of their lives after retirement, highlighting a need to address gaps between retirement and death so that older people can lead healthy, engaged, and financially secure lives.
Rap granny power
Park Jeom-sun, 81, leads Suni and Seven Princesses, a senior rap group, with Hong Sun-yeon, 79, and Jeong Du-i, 90, in Chilgok, South Korea. Their lively performances, farm-themed lyrics and undeniable charm have made them local celebrities, earning TV appearances and 77,000 YouTube views. Their success has inspired similar senior rap groups in the region, encouraging mental agility and helping combat loneliness.
Photo: Kim Soo-hyeon / REUTERS
Today, many live nearly a third of their lives after retirement, highlighting a need to address gaps between retirement and death
THE 100-YEAR LIFE AND A NEW LIFE COURSE
As life expectancy increases, societies face the emerging reality of the ‘100-year life.’ This creates unprecedented challenges and opportunities as individuals now perceive careers and retirement through the lens of extended longevity. Instead of following a traditional life model—education, work, then retirement—a 100-year life necessitates a redefined life course with multiple stages, including potential career changes, periods of reskilling, and possibly a phased approach to retirement. With this expanded lifespan, it is essential to consider how people can maintain health, purpose, and financial security over a longer horizon.
Global longevity revolution
By 2050, 1 in 6 people worldwide will be over 65. This demographic shift is reflected in the rapidly growing centenarian population, projected to reach 3.7 million, highlighting a dramatic rise in life expectancy.
Photo: United Nations, Department of Economic and Social Affairs, “World Population Prospects: 2015 Revision”
THE RISKS OF A LIFE WITHOUT PURPOSE
The current retirement structure often creates glaring gaps in life that can strip individuals of purpose, engagement, and security. Many retirees, confronted with abrupt and mandatory exits from the workforce, find themselves lacking the productive roles they held during their working years. Without a meaningful way to contribute, people are more likely to experience social isolation, a decline in mental and physical health, and a weakening sense of identity. Society’s focus on youth-centric productivity often sidelines older individuals, viewing them as a ‘liability’ rather than a resource. This erosion of identity and purpose can foster a cycle where individuals become, or are perceived to be, increasingly dependent on family and public resources rather than being seen as active, contributing members of society.
Society’s focus on youth-centric productivity often sidelines older individuals, viewing them as a ‘liability’ rather than a resource.
BENEFITS OF WORKING BEYOND RETIREMENT
Continuing to work in old age benefits both individuals and society. Studies show that older adults engaged in work, whether paid or unpaid, tend to have lower mortality rates, reduced risk of physical and mental illnesses, and greater well-being. Additionally, working provides a sense of identity, a defence against cognitive decline, and an opportunity to share accumulated knowledge. Older workers, with their vast experience, contribute a valuable source of productivity and creativity. A Canadian survey found that paid employment was the most satisfying activity for people over 65, emphasising that work can be a source of happiness.
Beyond personal fulfilment, work helps to prevent social isolation. The workplace offers regular social interactions and cognitive challenges, which are essential for mental health. Additionally, remaining employed can enhance autonomy in older age, improve financial security for older individuals, and reduce reliance on public pension systems.
Empowering the golden years
At the Seniors University of China, senior citizens participate in lifelong learning through a network of over 55,000 centers nationwide. Launched in 2023, this government-led initiative focuses on intellectual growth, personal development, and social connections. It provides a platform for seniors to enrich their lives, promoting cultural enrichment and community engagement as part of the country's response to its pressing aging issue.
Photo: Imaginechina Limited / Alamy Stock Photo
RETIREMENT AND THE REALITY OF AGEING IN SINGAPORE AND CHINA
Singapore’s population is ageing rapidly: by 2025, 20% will be over 65. Although the retirement age is 63, individuals can be re-employed until 68. However, a 2023 survey found that nearly 65% of workers over 50 reported negative employer attitudes and age discrimination. In 2022, only 31% of those over 65 were employed, with a third working part-time roles. In China, the retirement age is 60 for men and 55 for women, despite the average life expectancy of 78.6 years. Retirement ages will gradually increase, and China faces similar challenges: low labour force participation among older adults and a growing need to engage its healthy senior population, which state media describes as an ‘urgent and realistic problem.’
Rogo-Resu: Redefining retirement in Japan
The term rogo-resu (ロゴレス), a combination of “retirement” and “-less,” reflects Japan’s growing trend of seniors remaining in the workforce due to both financial necessity and shifting societal norms. According to Japan’s Ministry of Internal Affairs and Communications, in 2021, 50.3% of people aged 65–69 and one in three aged 70–74 continued working, highlighting the challenges of an aging population and the country’s evolving approach to retirement.
Photo: Georg Berg / Alamy Stock Photo
Studies show that older adults engaged in work, whether paid or unpaid, tend to have lower mortality rates, reduced risk of physical and mental illnesses, and greater well-being.
TOWARDS A NEW UNDERSTANDING OF AGEING AND WORK
Fixed retirement ages overlook the diversity of ageing experiences. Ageing is highly individual; some 80-year-olds are as physically and mentally capable as those decades younger. Policies enforcing mandatory retirement are outdated, as age alone does not reliably indicate productivity. These policies reduce opportunities for older workers, limit organisational access to their skills, and reinforce ageism stereotypes.
Supporting seniors in the workforce
To support elderly workers beyond retirement age, Singapore introduced the Special Employment Credit, offering wage offsets to employers hiring workers aged 55 and above. Other initiatives, like the Senior Worker Early Adopter Grant, encourage companies to raise retirement and re-employment ages, promoting age-inclusive practices.
Photo: Edgar Su / REUTERS
BRIDGING THE RETIREMENT GAPS — KEY APPROACHES
1. Flexible Retirement Options
We need a flexible retirement system to support older employees who wish to continue working. Options such as phased retirement, bridge jobs, and career development can provide alternatives to full-time employment.
2. Financial Security
Many individuals cannot afford to retire at 65. Economist John Shoven points out that ‘few workers can fund a 30-year retirement with a 40-year career.’ Pensions should encourage individuals to remain economically active, allowing them to build more wealth for the future. In Singapore, the government offers incentives such as wage subsidies to motivate employers to engage older workers. Tax incentives are given to children to top up their parents’ retirement accounts. The workplace fairness legislation is set to come into effect later this year. It will offer protection against age discrimination, but much more needs to be accomplished if we are to change the assumptions and attitudes that prevent businesses from better utilising the mature workforce and deny older workers their right to earn a living to secure their financial stability.
3. Lifelong Learning
To support employability in an evolving job market, lifelong learning should be prioritised. Singapore’s SkillsFuture programme offers resources for career development, but there is room for improvement in aligning training with industry needs. China has expanded lifelong learning opportunities; however, they often focus on leisure rather than workforce readiness.
4. Health as a Foundation
Despite increased life expectancy, there remains a gap in healthspan—the number of years lived in good health. Chronic diseases often limit older adults’ ability to stay active. Bridging this gap requires prioritising disease prevention and health promotion. Singapore’s Healthier SG initiative, which focuses on preventative care, is a step towards a healthier ageing population.
5. Employees’ Health and Well-being
In factories and other industrial settings where goods are manufactured, employees often retire early due to specific health risks inherent in their work. Health-focused retention strategies in manual labour environments benefit both workers and employers by improving safety, reducing healthcare costs, maintaining productivity, and preserving institutional knowledge. The Singapore government offers several grants to assist companies in enhancing their physical work environments, particularly benefiting older employees.
6. An Age-Integrated Society
Society must combat ageism to enable older adults to lead meaningful lives. Life after retirement often feels like a gap or a negative space, leading to marginalisation and social disengagement. Policies and attitudes that encourage older adults to contribute and stay engaged can help foster a more age-inclusive society.
By developing flexible work opportunities, financial security, lifelong learning, robust healthcare and an age-integrated society, we can transform the ‘gaps’ after retirement into a period of continued contribution, growth and purpose.
CONCLUSION
The concept of retirement, rooted in Bismarck’s era, requires rethinking for today’s reality of longer lifespans and the potential of a 100-year life. By developing flexible work opportunities, financial security, lifelong learning, robust healthcare and an age-integrated society, we can transform the ‘gaps’ after retirement into a period of continued contribution, growth, and purpose. Without addressing these gaps, societies risk rising healthcare costs, increased social isolation among older individuals, and the loss of an invaluable resource in older adults. Embracing these changes benefits not only older individuals but society as a whole, offering a new narrative where age is no longer a liability but a wellspring of potential. ∞
Pioneering an age-integrated workforce
The Netherlands promotes an age-integrated society through policies like the “Older Worker Employment Act,” which prohibits age discrimination and incentivises businesses to hire seniors. With flexible working hours and a strong pension system, seniors are encouraged to stay employed longer. The government also invests in intergenerational programs, like the “Active Senior” initiative, to foster connections and continuous learning.
Photo: RainStar / iStock
KANWALJIT SOIN
Dr Kanwaljit Soin is a well-respected orthopaedic and hand surgeon. She is also a former Nominated Member of Parliament and Singapore’s first female member of this office, serving from 1992 to 1996. Dr Soin was inducted into the Singapore Women’s Hall of Fame in 2014 and is actively involved in welfare and advocacy organisations. She became a founding member of the Association of Women for Action and Research (AWARE) in 1985 and served as AWARE’s president from 1991 to 1993. Her other credentials include being the founding chair of the Singapore chapter of the United Nations Development Fund for Women (UNIFEM) and the founding president of the Society for Women’s Initiative for Ageing Successfully (WINGS). She is also the author of Silver Shades of Grey: Memos for Successful Ageing in the 21st Century (2017).
FEBRUARY 2025 | ISSUE 13
MIND THE GAPS; BRIDGING THE GAPS
