2023-01-31 01:02:20

The rising cost of living isn't the only reason many in Asia are putting off retirement, Randstad says

By Goh Chiew Tong

Key Points

  • Randstad's latest Workmonitor report found that only half of surveyed workers believe they can permanently leave the workforce before they turn 65, down from 61% last year.
  • While 70% of workers surveyed said money worries are preventing them from enjoying their golden years, workers in Asia-Pacific are more likely to feel that work is a necessity in their lives.
  • That's because having a stable job allows them to "feel valued and respected" by their peers, said Sander van 't Noordende, the CEO of Randstad.

Workers surveyed in China are the least likely to retire as soon as possible even "in an ideal world," Randstad said. And 3% of workers in Asia-Pacific never want to retire at all, which is the highest percentage out of all regions.

Edwin Tan | E+ | Getty Images

The cost of living crisis is delaying the retirement plans of working professionals worldwide, said recruitment agency Randstad.

But those in Asia will continue to work because for reasons beyond a paycheck, according its new report.

Continue read on cnbc.com

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