Recently, SingaporeThe government announced that it willstayJuly 1, 2026rise,Reduce the statutory retirement age from the currentExtend from 63 years old to 64 years old; The rehire age will be adjusted from 68 to 69 years old.The company must provide rehire opportunities for eligible employees until they reach retirement age.

2019,SingaporePremier Lee Hsien Loong announced at the National Day Mass Conference that the government fully accepts the suggestions of the Elderly Employee Labor Service Working Group and willBy 2030, the original statutory retirement age of 62 years old will be gradually raised to 65 years old, and the re employment age of 67 years old will be raised to 70 years old.

July 2022,SingaporeThe government has extended the statutory retirement age and re employment age by one year until63 and 68 years old.

Singapore's Minister of Human Resources, Chan Sze Loong, stated that the declining birth rate and aging population are putting pressure on the Singapore labor market, and if not in the futureSuccessfully maintaining productivity for 10 years,SingaporeThere will be a real decline in economic growth.

According to data from the Ministry of Human Resources, the employment rate of elderly local employees continues to rise,Those aged 55 to 64 who are still working in the workplaceproportion, fromIn 2018, 66.8% increased to 70% in 2023, while the number of elderly people aged 65 to 69 who are still working increased from 43.8% to 48.3%. Currently, over a quarter of all resident employees are aged 55 and above.

In order to make the workplace more fair and attract more people to join the workforce,SingaporeThe human resources department is taking a multi pronged approach. Expected to arrive onThe two bills passed in 2024 will prevent workplace discrimination based on age, race, and disability, and better protect platform workers.

In Singapore,Under the Retirement and Re employment Act, when an employee reaches retirement age, if the employer is unable to provide a re employment option, they must pay employment assistance. In addition,two thousand and twenty-fourIn addition, guidelines will be issued to clarify how workers and employers should develop flexible work arrangements.

In Singapore, work has become the norm for elderly peopleElderly workers can be seen everywhere, such as cleaners in hawker centers, school bus assistants picking up children to school, tour guides in tourist attractions, taxi drivers, and so on. The Ministry of Manpower in Singapore has stated that it will continue to collaborate with the three parties of labor and civil service to review Singapore's retirement and rehire policies and ensure that older employees who wish to continue working can be hired.