Singapore will increase its retirement age to 64 in 2026, with individuals offered re-employment options after retirement able to continue working until the age of 69, according to local media reports.
The announcement was made by Minister of Manpower Dr. Tan See Leng on Monday during the debate on the Supply Committee for his ministry in Parliament, as reported by The Business Times.
These changes are part of an ongoing process that will see the retirement age and re-employment age of the country reach 65 and 70, respectively, by 2030.
Retirement and re-employment ages were previously raised to 63 and 68, respectively, in July 2022.
This move is part of recommendations put forth by the Tripartite Workgroup on Older Workers, established in May 2018 to strengthen support for elderly workers.
The adjustments aim to adapt to Singapore’s aging population and ensure continued workforce participation among older citizens, contributing to the country’s economic sustainability and social welfare.
