When it comes to work, 60 is the new 40: Seniors are still clocking in, not cashing out

A new study reveals that seniors in Singapore are continuing to work well into their retirement years, with 60 being considered the new 40. Said Mohamed, a 71-year-old employee at the Mandai Wildlife Reserve, exemplifies this trend as he continues to tend to the five attractions for which he has been responsible for the past 44 years.

He is not planning to retire anytime soon, citing both the need to financially support his disabled son and the desire to maintain social connections. A survey conducted by financial services company Sun Life found that more than 60% of Singaporean seniors continue working beyond their retirement age, with the primary reasons being social connection and mental stimulation.

However, a significant portion of seniors, including 48% of those in high-income households, work for financial reasons, including covering daily living expenses and ensuring long-term financial security. The National Trades Union Congress study also found that a majority of those aged 64 or above want to continue working past the age of 70.

This shift in attitude towards retirement is driven by the fact that today's older workers are healthier, better educated, and more tech-savvy than previous generations, and they wish to remain socially relevant and engaged in their communities. Employers must adapt to this changing workforce by offering flexible schedules, remote work options, and part-time arrangements to accommodate the needs of experienced workers.