In a significant move aimed at accommodating the workforce’s desire to extend their careers, Singapore is set to elevate the retirement age from 63 to 64 starting July 1, 2026. This change ensures statutory protection for those wishing to remain employed longer.
Advancing Re-employment Threshold
Concurrently, the re-employment age will see an increase from 68 to 69, obligating companies to offer re-employment opportunities to eligible employees up to this new age limit. Employers may adjust terms if necessary or provide employment assistance as an alternative.
Tripartite Consensus
The announcement was made by Minister for Manpower, Tan See Leng, emphasizing that the decision was reached in agreement with the tripartite alliance comprising the Ministry of Manpower, labor unions, and employer groups.
Progressive Adjustments
This upcoming adjustment follows the previous increase in 2022 and aligns with the government’s 2019 commitment to progressively raise the retirement age to 65 and the re-employment age to 70 by 2030.
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