, Singapore
220 views
Image by Steve Buissinne from Pixabay

Singapore raises retirement and reemployment ages

The first increase will happen in 2026.

The Ministry of Manpower (MOM) will raise the retirement and reemployment ages following an agreement with tripartite partners.

The first increase will come in 2026 when the retirement age will climb from 63 to 64, whilst the reemployment age will adjust from 68 to 69.

By 2023, the retirement and reemployment ages will increase to 65 and 70, respectively.

The last time Singapore increased its retirement and reemployment ages was in July 2022.

Apart from raising the retirement and reemployment ages, the MOM will also introduce two bills in the Parliament to ensure inclusive and fair workplaces in Singapore.

The first measure will be a new Workplace Fairness Legislation designed to enhance protections against discrimination and offer increased support for employees seeking to report grievances.

The MOM also aims to update Singapore's regulatory frameworks to strengthen protections for platform workers in areas such as housing, retirement adequacy, work injury compensation and representation.


 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!