Singapore to Raise Retirement Age to 65 by 2029

SINGAPORE, Oct 26 — Singapore will raise its retirement age from 63 to 65 and re-employment age from 68 to 70 from Jan 1, 2029, a year ahead of the previously planned 2030 timeline, under recommendations unveiled by the Tripartite Workgroup on Senior Employment (TWG-SE).

The move is part of six recommendations aimed at helping seniors remain in meaningful and sustainable employment while promoting age-diverse and multi-generational workplaces.

The recommendations come as Singapore’s workforce continues to age, with workers aged 50 and above accounting for 40 per cent of the resident labour force, up from 34 per cent a decade ago.

Retirement age review

Speaking at the launch conference, Minister of State for Manpower Dinesh Vasu Dash said employers should adapt jobs and workplaces to provide older workers with more opportunities to stay economically active.

Among the proposals is a new Flexi-Load Programme (FLP), designed to help employers create more part-time and fractional roles by offsetting transitional costs associated with job redesign and workplace restructuring.

The programme will replace the existing part-time re-employment grant when it expires in 2027 and will be available to workers aged 50 and above.

The workgroup also recommended establishing a career longevity programme office to support career transitions, skills upgrading and age-inclusive hiring practices.

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