Friday, January 9, 2009


A 2-day conference on REINVENTING RETIREMENT ASIA 2009 is currently being held in Singapore from 8-9 January. Registration had closed by the time I found out about it. So the next best thing is to share the media reports with you. All credit and acknowledgement to The Straits Times, Singapore.

Below are two extracts of the Prime Minister's speech at the conference. To read more, please click on the highlighted links.

Prime Minister Lee said that Singapore's health-care system for the elderly combines self-reliance with community and state support. -- PHOTO: LAU FOOK KONG

Jan 8, 2009 News: Work as long as you can

PM Lee said that older workers must be prepared to adjust to lighter work and less pay in order to remain employable. -- ST FILE PHOTO

CONTINUE working for as long as you can. This is the advice from Prime Minister Lee Hsien Loong to older and retired Singaporeans, who he said should stay active and engaged as they can still contribute much to the workforce and community. But to support older workers, many social attitudes and institutional structures established when life expectancies were shorter and Singapore's population was younger will have to change, said Mr Lee, pointing out that by 2030, one-fifth of the population will be 65 years and older. This is nearly one million people, three times the number today. Mr Lee cited the wage structures and employment terms as examples which need to be updated. Speaking at a conference on reinventing retirement on Thursday morning, PM L...

Click here for to read the full story.

Jan 9, News: Self-reliance key in S'pore

A FREE health-care system is an attractive ideal. But it leads to uncontrollable demand for health care, which then becomes 'far from free to the society as a whole', Prime Minister Lee Hsien Loong said yesterday. Instead, the Singapore style is to combine self-reliance with community and state support in caring for the elderly, he said. This formula also applies to financial security for the old, another top concern. 'It is also important that each individual takes personal responsibility, plans ahead, anticipates and prepares for his later years,' he said. 'Our system therefore encourages self-reliance, with the Government playing an enabling role to help each person build up his individual assets and savings, through home ownership and the Central Provident F...

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Although they are well into their 70s, (from left) Mr Kuan Ting Chee, Mr Chiang Keng Hong and Mr Lai Kay Pak have no intention of retiring any time soon. -- ST PHOTO: ALPHONSUS CHERN

Click here for the full text.

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