1. Rethinking Retirement
Thelma Kay
ACHA, Kuching, October 2017

2. Population indicators

3. Background
General life expectancy rising by two and a half years per decade
Bismark / Beveridge – life span not long after retirement age
Period of rest after long years of work

4. Retirement revisited: statutory retirement age
Current statutory retirement ages:
- Ranging from 55-67
- Gender gap in some countries, females earlier
- Retirement age extended in some countries or in the process of extension
- Proposal to extend to 75 e.g Japan
- Retirement age extension often linked to pension withdrawal date
Also include family (grandparents, caregivers) and community (esp. volunteer)

5. Retirement revisited: Life expectancy & healthy life expectancy
Gap between retirement age and average life expectancy (M) 74.5 (M)
But smaller gap between healthy retirement age and healthy life expectancy
Not many years to continue working if fit

6. Retirement revisited: Pensions
In most countries of the Asia-Pacific region, less than a third of the working age population contribute to a pension scheme
Countries with non-contributory schemes only provide very small amounts which have to be supplemented by other income streams

7. Recent discourse
With growing longevity, life course has to be adjusted from traditional education/work/retirement
WHO – functional vs intrinsic capacity
Jo Coughlin – longevity economy
Sarah Harper - old age (4th age)only when seriously frail, dependent and approaching death , before that – active adulthood

8. Challenges to be met Live productively till “old age”
- resource , not burden
- preparedness esp finance, housing
- nature of work ( good work/bad work)
- personal circumstance eg health
- social , participation , loneliness
Rights and discrimination - AGEISM ( eg credit, employment)
Portrayal - ageless beauty , marathoners, Korean plastic surgery
Changing technology
National level:
-welfare cost (social security, healthcare esp LTC)
- old age support ratio
- state role /responsibility

9. Final challenge
“While I still can , let me rock” “ Enjoy life – it has an expiry date” “ I have climbed my mountain ”