Why Retire?

A growing number of Asians are working late into their lives. The reasons are varied, often it is because they cannot afford to retire but in many cases not retiring reflects satisfaction in working, a desire to stay relevant or a chance to help out their kids in a family business. According to the OECD (Organization for Economic Co-operation & Development) Asian countries lead in the trend of older adults continuing to work.

People aged 60-69 in employment

Indonesia: 50.6%
South Korea: 45%
Japan: 42.8%
Israel: 39.3%
China: 36%
India: 35.8%
US: 31%
Brazil: 28.1%
Canada: 24.9%
UK: 21%
South Africa: 9.7%
France: 6.3%
Spain: 5.3%

To better understand this trend it’s important to understand the overall employment rate in countries.

It is also helpful to understand the different age groups which make up the adult-age working population.

This shows that in many ways the ‘Asian Way’ is to work and remain active all of one’s life.