The re-employment age will likewise go up, from 68 to 69. Companies must offer eligible staff reemployment until that age, though on adjusted terms if necessary, or offer employment assistance in its place.
Minister for Manpower Tan See Leng announced on March 4 the timeline for the move, which was made with consensus among the tripartite grouping of his ministry, unions and employers.
The ceilings were last raised in 2022, after the Government said in 2019 that the retirement age would be increased to 65 and the re-employment age to 70 by the year 2030.
The lead time reflects ground feedback to give businesses and workers ample time to prepare.
Elaborating on the change during the debate on the Ministry of Manpower's (MOM) budget, Minister of State for Manpower Gan Siow Huang said employers here have mostly been compliant. "Over nine in 10 senior workers who were eligible and wished to continue working were offered re-employment in 2023."
The onus to hire older workers will not be on employers alone, she said, adding that MOM will support firms to hire older workers and help them update their skills.
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