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14% of Singapore’s Millennials will ‘work until I die’

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Perhaps due to the rising living costs or that they simply haven’t given a thought to retirement, a majority of Millennials are expecting to work longer than the generations before them.

According to a global study on 19,000 Millennials by ManpowerGroup, about a third (33%) are expecting to work till 65-69 and about a quarter (23%) expect to work till 60-64.

Shockingly, 12% of Millennials globally are expecting to work till they die. That percentage increased to 14% in Singapore and 37% in Japan.

When do Millennials expect to retire?

when Millennials expect to retire

 

The study found that not only are Millennials expecting to work well into their golden years, they are also working as hard, if not harder than the other generations.

Globally, 73% of respondents reported working more than 40 hours a week with those in Singapore, China and Mexico averaging 48 hours a week and those in India averaging 52 hours.

ALSO READ: Today’s employees are happy to work forever

millennials expect to work until they die

 

Knowing that they’re likely to be working longer and harder than the generations before them, Millennials also expect there to be times where they’ll need a break.

More than four in five (84%) of respondents foresee significant breaks along their working lives, indicating that career waves might be replacing the career ladders of the previous generations.

The anticipated reasons for these break periods vary between genders.

why do millennials need a break

 

Women overall plan to take more time out to care for others with reasons such as giving birth to children (61%), childcare (33%) and caring for parents or ageing relatives (30%).

On the other hand, men plan to take time out to care for themselves with reasons such as relaxation/ vacations (42%), marriage/honeymoon (26%) and to pursue their life dream or hobby (24%).

Average hours worked per week

 

Lead image: Shutterstock



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