On 4 March 2024, the Ministry of Manpower (“MOM“) announced the next increment in the retirement and re-employment ages effective in 2026.
As background, the Retirement and Re-employment Act 1993 provides certain protections for eligible senior workers who are Singapore citizens and permanent residents. To better support senior workers, the Government is implementing a progressive increase of the retirement and re-employment ages, as set out below.
| Retirement Age | Re-employment Age |
Impact | Eligible senior workers are protected from age-related dismissal up until the retirement age. | Employers are required to offer re-employment to eligible senior workers up until the re-employment age. |
As of 2022 | 63 years of age
| 68 years of age |
To be implemented in 2026 | 64 years of age | 69 years of age |
Target goal by 2030 | 65 years of age | 70 years of age |
The increase in retirement and re-employment ages is announced ahead of time to allow employers to pivot effectively, such as making adjustments to their manpower and upskilling plans to retain their senior workers. Various grants are also available, such as the:
(a) Part-Time Re-employment Grant, which provides support for flexible work options for senior workers; and
(b) Senior Employment Credit, which provides wage offsets to employers of Singaporean workers aged 60 and above.
Click on the following link for more information:
- Speech by Minister of State for Manpower Ms Gan Siow Huang at Committee of Supply 2024 (available on the MOM website at www.mom.gov.sg)
