Harold (not his real name) retired in his early sixties after a successful finance career. He eagerly anticipated enjoying leisure, travel, family time and new hobbies. However, retirement brought an unexpected sense of loss and unease.
The routine and structure that his job provided were gone, leaving a void. He struggled to establish a new routine and maintain social connections, feeling increasingly isolated as former colleagues moved on.
The Covid-19 pandemic worsened his situation, with travel plans postponed and social interactions reduced. He found life monotonous, lacking direction and purpose. Harold eventually suffered from depression and anxiety, and felt that he had nothing left to look forward to in life.
As Singapore moves towards 2030, with a quarter of the population projected to be 65 or older, many will soon face retirement.
There will be those among them who see retirement as offering closure on careers, signalling the start of a new phase in life in the pursuit of personal interests.
But for some like Harold, having been accustomed to the decades spent in the workforce, retirement can be a disorienting experience. Fortunately, he recognised the impact on his mental health and sought treatment.
Dealing with disruption
On the flipside, there are those who are compelled to retire due to factors like workplace restructuring.
Judy, an administrative assistant in her early 60s, found herself among the employees her company had shortlisted for early retirement due to restructuring, despite her 20 years of service.
One moment she was meticulously keeping track of her boss’ schedule and mailing out letters to clients, the next moment she was packing up her desk.
The firm had pivoted towards digitalisation and modernisation of its processes, which meant that her role could be replaced by automation, and the firm planned to hire more technologically proficient employees. This experience proved extremely distressing for Judy who felt unappreciated. It had an impact on her mental health.
Once looking forward to retirement as a sail into the sunset, it now felt like being booted out of a community and routine that had defined a large part of her adult life. She found herself battling feelings of worthlessness and depression, and struggled to adapt to the new slower pace of life. Despite an early retirement package, she worried about financial stability without a regular income.
Judy’s experience is a testament to the enormous impact that workplace restructuring can have on older employees.
We can expect more of such scenarios as companies rapidly shift towards digitalisation and automation, and integrate artificial intelligence (AI) into their operations.
Harold’s and Judy’s experiences highlight how retirement can bring unexpected challenges, affecting mental well-being.
The World Health Organisation (WHO) reported that 14 per cent of adults over 60 suffer from a mental disorder, most commonly depression and anxiety. The experiences of Harold and Judy illustrate the WHO’s findings of how social isolation and loneliness, financial insecurity, and a reduced sense of purpose can place one at risk of developing a mental health condition.
An Australian study of around 200,000 participants, examining the relationship between retirement and psychological distress, found that individuals who were fully retired or unemployed experienced higher levels of psychological distress compared with those who were employed.
Among retirees, those who left the workforce due to ill health, redundancy or caregiving responsibilities experienced particularly high levels of psychological distress. This underscores the need for targeted mental health support tailored to the specific circumstances of individuals transitioning into retirement. It also highlights the need for greater awareness of these issues earlier in life to be better prepared.
Planning ahead
The transition from a structured work life to permanent retirement can be an uphill struggle. Concerns over mobility, financial security, loneliness, and loss of a sense of purpose can become overwhelming if not addressed in advance.
In terms of planning for financial security, it would be helpful to use the tools easily available online to gain a better understanding of what we need after retirement. For instance, the Central Provident Fund (CPF) Board on its website provides comprehensive resources and tools for retirement planning, including calculators to estimate retirement savings and income for example.
But preparing for retirement goes beyond financial security. It’s also about the other aspects of life that could affect our mental health. Staying socially connected, for instance, is important.
A recent study published in The Journals of Gerontology highlighted the importance of support networks for seniors growing old without children. It found that four-fifths of childless individuals aged 50 and above in Singapore rated their well-being on comparable levels to those with children because they had support from family, friends or both.
It also helps to keep healthy, both in mind and body.
With initiatives like Healthier SG, there are primary healthcare services, health screenings and assessments readily available to detect any early signs of mental health conditions in the elderly.
Community-based outreach programmes such as those offered by the Agency of Integrated Care (AIC) are designed to detect mental health issues early through community engagement, and provide support for the elderly in managing their mental health through raising awareness, counselling and mental wellness programmes. These can assist with the psychological preparedness of individuals planning to transition into retirement and can build up their resilience.
For continued learning and even pursuit of hobbies, SkillsFuture Singapore seeks to foster a culture that encourages lifelong learning, and provides seniors opportunities to upskill and pursue new interests. This allows ageing Singaporeans the chance to pivot in their careers and keep pace with the evolving career landscape should they encounter being laid off due to company restructuring.
Life is unpredictable – just when we think everything is going smoothly, it throws us a curveball. Whether retirement for us will be a sail into the sunset or the start of an uphill battle, is anybody’s guess. However, by taking the initiative and controlling the variables we can, we give ourselves the best chance for a fulfilling retirement.
- Dr Damien Lai is a consultant in the department of geriatric psychiatry at the Institute of Mental Health.
Posts
No comments:
Post a Comment