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Singaporeans look overseas Slower pace of life citedas main motivatingfactor, according to study
ESTHER NG
[email protected]
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LIKE a number of Singaporeans, public relations consultant Mr Khaled Talib has family overseas — one reason why he would consider retiring in Australia.
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That puts the 43-year-old among a majority of Singaporeans when it comes to preparing for ageing and retirement.
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As many as 63 per cent of Singaporeans would consider moving to another country for retirement, according to a survey by the Tsao Foundation and market research company TNS.
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And it doesn’t take family to get people to think about uprooting. The biggest pull factor for this group now in their 20s to mid-50s is simply a slower pace of life, followed by a lower cost of living.
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It is something Mr Khaled can relate too as well. “People toil to make ends meet, we don’t have a healthy attitude, we’re so caught up in the rat race,” he said.
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The 300 respondents also cited a “more pleasant environment” as a main motivator in considering retirement abroad. But while there is only so much open spaces Singapore can have, Tsao Foundation president Mary Ann Tsao believes Singapore can buck up in its support system for ageing.
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Dr Tsao said only half of those surveyed felt comfortable with the country’s physical and social support for ageing while nearly 20 per cent felt insecure about the support they would get. According to her, there has been little growth and funding over the last seven years in home care and community services for the aged.
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“People take for granted simple tasks like marketing, cooking, getting from your flat to the clinic. If you have a stroke, you’ll need someone to cook for you, someone to take you to the clinic for therapy — the built-in environment is very unfriendly for people with physical immobility — and there’s the cost of these services,” said Dr Tsao, who has also entertained the idea of moving back to the United States.
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Health economist Dr Phua Kai Kong, from the Lee Kuan Yew School of Public Policy, is not surprised by the findings: “Going somewhere more affordable allows us to stretch our dollar. In bigger countries, people move to the hinterland — so Singaporeans are doing the same thing by retiring in Bintan or elsewhere.”
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But Dr Phua cautions against thinking that retiring in developed countries is a bed of roses, as many of them are cutting back on welfare: “I’ve many friends who want to come back. They complain their children are not filial and not looking after them. And the support system is different.”
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The survey, which was conducted online between June and July, indicated a difference between younger and older respondents, though.
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Those aged 21 to 34 were more likely to consider moving to another country for retirement than older respondents. In contrast, those aged 45 to 55 were more confident about their quality of life in their twilight years.
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And Nominated Member of Parliament Kalyani Mehta believes there is plenty of time for younger Singaporeans to change their minds about retiring overseas. The social work academic at the National University of Singapore believes simple changes can help, such as scrapping the license requirement for motorised scooters and getting service staff to be more proactive about promoting discounts for seniors.
Slower pace of life citedas main motivatingfactor, according to study
ESTHER NG
[email protected]
.
.
LIKE a number of Singaporeans, public relations consultant Mr Khaled Talib has family overseas — one reason why he would consider retiring in Australia.
.
That puts the 43-year-old among a majority of Singaporeans when it comes to preparing for ageing and retirement.
.
As many as 63 per cent of Singaporeans would consider moving to another country for retirement, according to a survey by the Tsao Foundation and market research company TNS.
.
And it doesn’t take family to get people to think about uprooting. The biggest pull factor for this group now in their 20s to mid-50s is simply a slower pace of life, followed by a lower cost of living.
.
It is something Mr Khaled can relate too as well. “People toil to make ends meet, we don’t have a healthy attitude, we’re so caught up in the rat race,” he said.
.
The 300 respondents also cited a “more pleasant environment” as a main motivator in considering retirement abroad. But while there is only so much open spaces Singapore can have, Tsao Foundation president Mary Ann Tsao believes Singapore can buck up in its support system for ageing.
.
Dr Tsao said only half of those surveyed felt comfortable with the country’s physical and social support for ageing while nearly 20 per cent felt insecure about the support they would get. According to her, there has been little growth and funding over the last seven years in home care and community services for the aged.
.
“People take for granted simple tasks like marketing, cooking, getting from your flat to the clinic. If you have a stroke, you’ll need someone to cook for you, someone to take you to the clinic for therapy — the built-in environment is very unfriendly for people with physical immobility — and there’s the cost of these services,” said Dr Tsao, who has also entertained the idea of moving back to the United States.
.
Health economist Dr Phua Kai Kong, from the Lee Kuan Yew School of Public Policy, is not surprised by the findings: “Going somewhere more affordable allows us to stretch our dollar. In bigger countries, people move to the hinterland — so Singaporeans are doing the same thing by retiring in Bintan or elsewhere.”
.
But Dr Phua cautions against thinking that retiring in developed countries is a bed of roses, as many of them are cutting back on welfare: “I’ve many friends who want to come back. They complain their children are not filial and not looking after them. And the support system is different.”
.
The survey, which was conducted online between June and July, indicated a difference between younger and older respondents, though.
.
Those aged 21 to 34 were more likely to consider moving to another country for retirement than older respondents. In contrast, those aged 45 to 55 were more confident about their quality of life in their twilight years.
.
And Nominated Member of Parliament Kalyani Mehta believes there is plenty of time for younger Singaporeans to change their minds about retiring overseas. The social work academic at the National University of Singapore believes simple changes can help, such as scrapping the license requirement for motorised scooters and getting service staff to be more proactive about promoting discounts for seniors.
Slower pace of life citedas main motivatingfactor, according to study
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