Singapore plans to raise its statutory retirement age to 65 and re-employment age to 70 in 2029, Channel NewsAsia reported Oct. 26, as older residents make up a growing share of the labor force. The reported schedule would advance by one year the earlier target of reaching those ages in 2030.
Channel NewsAsia reported that the government accepted recommendations from a tripartite workgroup. The proposed package includes more flexible job arrangements, higher tax relief for working seniors, wage support for employers who re-employ older workers, additional help for lower-wage older workers and more financial assistance for people who are not re-employed.
The outlet also reported that employers would be barred from dismissing workers on age grounds before age 65 and would have to offer eligible employees re-employment through age 70. Further implementation details are expected in the first half of 2027, Channel NewsAsia said.
Singapore's Ministry of Manpower sets the current thresholds at 64 for retirement and 69 for re-employment, effective July 1, 2026. Its guidelines bar age-based dismissal before the statutory retirement age, or a higher contractual retirement age where one applies. They also require eligible employees to receive a re-employment offer through the applicable age, accounting for a higher contractual retirement age.
The ministry's 2025 labor-force release shows that residents aged 50 and older accounted for 40.0% of the resident labor force, compared with 34.1% in 2015. The share aged 60 and older rose from 12.3% to 19.3% over the same period. A 2019 tripartite recommendation documented in the ministry's guidelines set 2030 as the target for retirement and re-employment ages of 65 and 70.
Current support includes a maximum Earned Income Relief of S$6,000 for eligible earners ages 55 to 59 and S$8,000 for those 60 and older, subject to eligibility and earned income, according to the Inland Revenue Authority of Singapore. The current Senior Employment Credit provides employers wage offsets of up to 7% for eligible Singaporean workers aged 60 and older who earn up to S$4,000 a month; it covers wages paid through 2027.
