Singapore to accelerate retirement age increase to 2029

Singapore will accelerate the increase in retirement and re-employment ages to 2029 as part of a comprehensive package to help seniors stay in the workforce, tripartite partners confirmed. The move reflects the country's commitment to enabling older workers to continue employment for as long as they choose, addressing demographic shifts and labour market needs. The government, unions and employers have jointly developed measures designed to make work more sustainable for ageing employees, recognizing both the aspirations of mature workers and economic imperatives. Beyond the statutory age adjustments, the initiative includes provisions for more flexible job arrangements tailored to older workers' circumstances. Additional tax relief measures will also be introduced to incentivize employers to retain and hire experienced workers over 60. Officials signalled that the package represents a coordinated effort across the tripartite framework to support workforce participation among seniors, ensuring that age alone does not become a barrier to continued employment in Singapore's evolving economy.