SINGAPORE, Oct 26 (Bernama-Xinhua) -- Singapore plans to raise its statutory retirement age from 64 to 65 and its re-employment age from 69 to 70 on Jan 1, 2029, a year ahead of the previously scheduled 2030 timeline, reported Xinhua.
The plan is among six recommendations released on Monday by the Tripartite Workgroup on Senior Employment. The government has fully accepted the recommendations.
Under Singapore’s re-employment framework, employers must offer re-employment to eligible employees who reach the minimum retirement age, until they reach the re-employment age.
Other recommendations include enhancing earned income tax relief for seniors who continue working beyond the statutory retirement and re-employment ages, and raising the minimum and maximum Employment Assistance Payment amounts for eligible workers who are not re-employed.
The workgroup also proposed replacing the Senior Employment Credit with a new Re-Employment Credit from 2028 to support employers in retaining older workers.
To encourage more flexible work arrangements, the workgroup proposed a Flexi-Load Programme to help employers create part-time and fractional roles, alongside a new programme office to provide career guidance and support skills transitions.
Further details on the implementation of the recommendations will be released in the first half of 2027.
-- BERNAMA-XINHUA
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