Recent lab experiments have been successful in increasing the lifespan of mice by between 60% and 500% by amending their genetic structure and ‘switching off’ the genes responsible for ageing. If these treatments can be successfully administered on humans, it could represent a longer life expectancy of 100-150 years!

Given this information and the significant progress being made in this field of study, a longer life expectancy seems more like a probability rather than a possibility. Would this also result in an increased retirement age? What are the possible ramifications of such a phenomenon?

1. Working Longer

At present, the average lifespan for adults in Singapore is 82.14 years while the retirement age is 62 years. In the Southeast Asia region, for Malaysia, Indonesia and Thailand, the retirement ages are 60, 58, and 60 respectively.  As the regional median figures represent an approximate retirement age at the 75% milestone in a person’s life, some argue that the retirement age could be revised to 75 if life expectancy is 100 years old, or retirement could be pegged at 112.5 years if average life expectancy increases to 150 years.

While this may seem fantastical at the moment, the reality of the situation is that the retirement age is being revised upwards regularly, now declared as between 60 and 65 years of age in many developed countries. As a result, people are actively working and contributing to society for a longer time than they used to.

Due to better healthcare facilities, most working adults now also accumulate more savings during their working careers and have a longer time to enjoy retirement with their families and loved ones.

2. The Start of a Real Life

In recent years, an interesting phenomenon has developed amongst senior members of the workforce with sufficient savings. Many of these industry veterans, upon retiring from their careers, have started pursuing paths in an area of personal interest, such as giving talks, teaching, coaching, and more.

These seniors remain active and achieve satisfaction from these activities, and they are not motivated purely by financial returns. For many, they have termed this as the “start of their real life”.

3. Meaning of Retirement is Not the Same for All

With the ever-rising costs of living, some retirees take up part-time jobs to cover their daily expenses and maintain their quality of life. Retirees who do not wish to take up this option must rely on a substantial amount of savings invested in fixed deposits and bonds in order to live off the dividends they receive.

In a nutshell, the overarching notion of retirement is about adjusting. Retirees are expected to adjust to a new lifestyle, and new perspectives on money and life as a whole. Individual retirees have the responsibility of deciding how much they will need, and what kind of lifestyle they are keen to pursue upon retirement.

For some, retirement happens when their health no longer supports their working lifestyle. For others, retirement is an active decision made when they wish to spend more time with their family and loved ones. Regardless of the reasons, retirement is a milestone stage in our lives, and planning is a key part of preparing for this phase.

4. Uncertainty or Comfortable Life Ahead?

Retirement can coincide with a litany of unexpected expenses, many of which are linked to health care treatments. Planning ahead allows future retirees to set aside a sum for these treatments, or to have adequate insurance coverage to take care of these needs as and when they arise.

In fact, these unexpected expenses may seem insurmountable even during an economic downturn, if job retrenchments become commonplace as they have during past slumps in the economy.

As such, it is of paramount importance to find a retirement plan that suits your needs and financial comfort levels, and to start working on this early.

Visit our website to view Tokio Marine Retirement Products and select a plan that suits your objectives. Alternatively, drop us an email at and a consultant will be in touch with you to provide a customised retirement solution aligned with your objectives.

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