Singapore's retirement age remains 63 in 2024. However, Singapore raised the retirement age in 2024. The minimum retirement age would climb from 63 to 64 in July 2026 under the new policy.
The Singapore New Retirement Age did not change in 2024, but a two-phased increase is planned. However, the increased retirement age will affect firms and employees in several ways.
Depending on company rules, retaining older staff may increase salary and healthcare costs.
Depending on company rules, retaining older staff may increase salary and healthcare costs.
The new regulation allows some workers to keep working. This may be due to financial concerns, social demands, or job satisfaction.
Not all seniors are physically or mentally suited for long-term work. You may phase a challenge at work too.
Central Provident Fund withdrawals will not be affected by the approaching Singapore New Retirement Age.
The Singapore New Retirement Age shows the government's commitment to a sustainable and inclusive workforce. The