The Pressing Issue that Worries the Workforce All Over the World

There is definitely a reason why retirement is called the golden age of one’s life. Many people consider retirement to be a reward that follows a brilliant and successful career. But it is not always easy to arrive at this transition. This is because an enjoyable retirement is often synonymous with the amount of money that an individual has saved for himself and his family. Taking a look at the attitude of the retirement of employees from around the world, it has become imperative to compare the scenario of expectations and realities of the retirement income. 

Income expectations vary from one nation to another

In India, a non-retiree can expect around 71 percent of their income to be their retirement income and the reality is close to that. It can be said that not having adequate funds at the time of retirement is not just the case with our country but a universal issue. About 51 percent of employees who are given a workplace pension are afraid that they will not be endowed with adequate funds to live their best life after retirement.

It is important to point here that there are a number of exceptions to this. Thankfully, in India, the condition of retirement is much better than what has been expected. Indian employees get 25 percent more of what they expect to receive after retirement. 

Aspirations to materialize after retirement

Most people around the world show no interest in working after retirement but they are prone to take part in non-work related activities. These include traveling in which 60 percent of retirees have shown interest, while 57 percent likes spending time with family and friends, 49 percent of people love to pursue new hobbies and a meager 27 percent is interested in undertaking volunteer work.

A change in the retirement landscape

In some parts of the world, like Italy and the U.S., about 59 percent of people are interested in working after retirement but in the Netherlands, only 32 percent of people have similar expectations. This can be attributed to the high pension income of the Dutch government. But this may not be the reality for an eternal period of time as it continues to evolve from one generation to another.

At present, only 15 percent of people in the first world countries are aged over 65 years. But by 2050 this ratio is expected to become more than double. And the sandwich generation between ages 40 and 50 as they have to support their children along with their retired parents at the same time. Now the question is, while the increased life expectancy allows people to spend more time with their close ones, is it plausible to live much longer?

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

More To Explore

Do You Want To Boost Your Business?

drop us a line and keep in touch

Submit Your Details

Please fill in your basic details to schedule a free call.