Singapore to raise statutory retirement age to 65 by 2029

The Singapore government plans to increase the statutory retirement age to 65 on January 1, 2029, and the re-employment age to 70. This implementation is one year earlier than the original schedule, which had targeted July 2030.

The decision follows recommendations from the Tripartite Working Group for Senior Employment (TWG-SE) to address an aging population and increasing life expectancy. The measures aim to provide older workers with stronger statutory rights to remain in the workforce, support those wishing to work beyond retirement, and assist individuals in returning to employment after a break.

Additionally, the policy seeks to create age-friendly and multi-generational workplaces while providing targeted support for low-income seniors. This follows a previous adjustment in July, when the retirement age was raised to 64 and the re-employment age to 69.