Retirement Age and Re-Employment Age to be raised on 1 July 2026 and other related changes

At the 2026 Committee of Supply Debate on 3 March 2026, Minister of Manpower, Mr Tan See Leng announced that the retirement age and re-employment age in Singapore will be raised on 1 July 2026.

Currently, the retirement age is 63 while the re-employment age is 68. With effect from 1 July 2026, the retirement age will be raised to 64 while the re-employment age will be raised to 69. The increase in the retirement age and re-employment age will keep Singapore on track to raise the retirement age to 65 and the re-employment age to 70 by 2030.

Additionally, the Senior Employment Credit will be extended until December 2027, with the highest Senior Employment Credit wage support tier of 7% applying to workers aged 69 and above. The SEC provides wage offsets to employers who hire senior workers aged 60 and above, helping them to manage the costs associated with higher retirement and re-employment ages. 

The Part-Time Re-Employment Grant will also be extended until December 2027. The Part-time Re-employment Grant provides support to employers who offer part-time re-employment, flexible work arrangements and structured career planning to senior workers.

The Central Provident Fund contribution rates for senior workers aged 55 to 60, and aged 60 to 65 will be increased by 1.5 and 1 percentage point respectively from 2027.

These changes will definitely be welcomed in light of Singapore’s aging population, attracting and retaining senior employees, and encouraging them to stay in the workforce.