Ever wondered what independent senior living opportunities look like worldwide? Today, we take a brief tour of retirement cultures in countries around the globe – from the UK and New Zealand to Singapore, Malaysia, and Japan!
United Kingdom – Retire to the Countryside
Ever wonder what retirement living in England would be like? While England is a fantastic place to live for anyone who loves history, dining out, and the countryside, there are some downsides to consider.
For example, the cost of retirement living in London is generally unaffordable for most retirees. Fortunately, for retirees who can’t afford to live in London, countryside locations like Bath offer as promising locations not that far off from London. These more rural areas are less expensive and offer a traditional experience of retirement.
While the legal retirement age in England is 65 years old, seniors can continue to work if they choose to, and the required retirement age is expected to increase to 67 between 2026 and 2028.
Singapore – Beautiful & Safe
Like New Zealand, Singapore also has a security savings plan in place to be used for retirement-related investments. Many western retirees with high net worth also consider Singapore as an ideal location to settle down in because the nation is widely understood to be one of the safest countries worldwide, with one of the highest-ranking economies. Other advantages for foreign retirees include the country’s excellent first-world amenities, low crime rates, and that English is an official language spoken among the locals.
Compared to the UK, Singapore has a statutory minimum age of 62, which means that employers can legally make their employees retire if they choose to. However, for retirees who wish to keep working, Singapore has a re-employment program (Retirement and Re-Employment Act), which can bring opportunities to those who want them!
Malaysia – Hot, Humid & Beautiful
While Malaysia is considered to be ‘Paradise on a Budget’, only 30% of retirement income is derived from the government pension, which is much lower than many other countries around the world. For both public and private sector employees alike, compulsory retirement is enforced at the age of 60. For those who want to enjoy an early retirement, they can do so from as 40 years old, as long as they have 10 years of government service under their belt.
In terms of lifestyle and living in Malaysia, the nation is bustling with variety! From gorgeous wilderness and coastal communities to busy city living, there’s ample opportunity for seniors to enjoy their golden years. The climate is hot and humid for most of the year, so for those who love the warmth (and don’t mind the humidity!), this is an idyllic country for retirement.
Japan – Rich Culture, Pricy Retirement
Japan has a rich culture and incredible scenic beauty, but unfortunately, for most adults of retirement age, living off pension funds alone is not possible. Retirement living in Japan, particularly in urban locations, is not cheap.
While Japan is famous for having one of the oldest populations worldwide, it is also ranked as one of the top 10 most expensive countries in the world to live in. Seniors in Japan may be eligible to retire at the age of 62 (set to rise to 65 for 2025). However, most men continue to work until their 70th birthday and women until they are 69 years old.
Other countries that are in a similar situation to Japan, such as Korea, have the same retirement difficulties. With an average retirement age of 72.3, Korean men and women work on average, 12 years longer than the official retirement age of 60.
New Zealand – Beautiful Landscape & Quality of Life
In New Zealand, there is no retirement age for seniors, but most people can get Superannuation income once they turn 65. Unlike many countries worldwide, the primary goal of New Zealand Superannuation is to provide social protection rather than to replace earnings.
If they choose to, New Zealand seniors can easily continue to work after retirement while they receive their pension. On average, women work until they turn 66 years old and men up until their 70th birthday. While the cost of living in New Zealand is not the cheapest, there are many ways for seniors to enjoy their independence in retirement with the assistance of New Zealand Superannuation.
On top of this, our friendly culture, quality lifestyle opportunities, and incredible beaches and landscapes make New Zealand an excellent place to retire!
Retirement living at its finest!
We hope you enjoyed this brief glimpse into retirement living around the world! What we can see from this is that no matter what country seniors choose to retire in, there are bound to be advantages to appreciate.
For retirees living in New Zealand, ready to move into one of the best lifestyle villages in Auckland, get in touch with Fairview today! We offer beautiful retirement properties and incredible living opportunities for all our residents. Contact us will any questions you may have and come in for a tour of our lovely village.