IPS Study: Elderly Ready To Work After Retirement

According to the Institute of Policy Studies (IPS) survey, most of the elderly people in Singapore want to work after their age of retirement. The survey has covered more than 2000 people who are between the age bracket of 50 to 74 years old.

The survey was released this Wednesday and it discovered that most of the respondents felt that working after retirement is the best way to stay connected with the society, stay financially independent and offer the elderly a sense of self-esteem.  The survey further found out that though working after retirement had a positive feedback, about half of the respondents (48 percent) said that they could not find suitable jobs, that matched their qualifications and experience.

According to Channel News Asia, the survey also noted an overwhelming perception – more than 60 per cent of respondents – that potential employers prefer to hire younger workers. About a third also said they felt their lack of job hunting skills was a barrier to continued employment. The issue to get employed is complex for the seniors, said the survey. “Increasing optimism for employability has to involve both greater buy-in from employers and also more realistic expectations by seniors about work and the need for retraining,” the report said. “Redesigning work to make it more manageable and flexible is a step in the right direction since it allows seniors to participate in the work force, though hopefully at a pace they are comfortable with.”

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