Singaporeans Retiring Before Statutory Retirement and Reemployment Ages in Last Three Years

Mr Liang Eng Hwa asked the Minister for Manpower (a) in the last three years, how many Singaporeans have retired before they reach (i) the statutory retirement age and (ii) reemployment age respectively; and (b) what are the common reasons for such retirement.

In the three years up to June 2021, about 5,300 residents aged 55 to 61 retired before reaching the prevailing statutory retirement age. Another 12,000 residents aged 62 to 66 retired before they reached the prevailing re-employment age. They made up around 2% and 6% of residents in the respective age categories who are or have been in the labour force.

Some common reasons for older workers to leave the labour force include poor health, caregiving duties or simply wanting to take a break. For older workers who wish to continue working, well over 90% of them were offered re-employment. To support older workers, the tripartite partners have been actively encouraging employers to adopt more age-friendly workplace practices, including job redesign, flexible work arrangements and offering part-time re-employment opportunities.