Raising Retirement Age

 

Singapore to raise its retirement and re-employment ages as citizens enjoy more years of good health and demonstrate sustained productivity at work.

The retirement age, which is now at 62, and re-employment age, 67, are set to be raised to 67 and 70 respectively.

A higher retirement age will motivate both workers and employers to invest in skills upgrading and job redesign for older workers, while increasing the re-employment age will afford companies the flexibility to reset employment terms, like salary and job scope, to cope with business uncertainties,

Denmark’s retirement age is set to go up from 65 to 68 by 2030, over 11 years.

Melissa Cheok- Bloomberg