Most of us dream of working from home and earning a full-time income on a part-time basis. Unfortunately if the recent news of raising the retirement age of people working in Singapore to 68 years old materializes, it seems like instead of retiring early, many more Singaporeans will be working for many more years than initially planned.
Singapore is currently in the process of extending the retirement age from 62 to 65 years old and expects to put the law in place by 2012. This will be done through legislation by making it compulsory for employers to re-employ workers in Singapore after 62 years old. The main reason for raising the retirement age ceiling is because of the rising life expectancy of people in developed countries, which in turn put pressure on the average Singaporean to take more time to save enough money for their retirement.