Workers Reaching Current Retirement Age of 63 in Next Three Years

Debated in Parliament on 18 Sep 2023.

Summary written by AI (learn more)

In the next three years, 103,000 resident employees are expected to reach the statutory retirement age of 63, and employers are required to offer them re-employment if they have been with their current employer for at least two years before turning 63.
Surveys show that about 98% of these workers wish to continue working and are medically fit with satisfactory work performance, indicating a high re-employment eligibility rate.
The government is monitoring re-employment trends as Singapore transitions to a higher retirement age, ensuring both worker readiness and employer compliance with re-employment obligations.

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Full Transcript

Keith Chua

Mr Keith Chua asked the Minister for Manpower (a) what is the number of workers expected to reach the current retirement age of 63 in the next three years; and (b) for each of the next three years, what is the estimated number of such workers seeking re-employment.

Tan See Leng

One hundred and three thousand resident employees will reach the statutory retirement age of 63 in the next three years. Employers are required to offer them re-employment if they have worked with their current employers for at least two years before turning 63. Among these, based on our surveys of workers reaching retirement age, about 98% have indicated that they wish to continue working and also meet the other eligibility criteria of being medically fit and having satisfactory work performance.

Summary written by AI (learn more)

In the next three years, 103,000 resident employees are expected to reach the statutory retirement age of 63, and employers are required to offer them re-employment if they have been with their current employer for at least two years before turning 63.
Surveys show that about 98% of these workers wish to continue working and are medically fit with satisfactory work performance, indicating a high re-employment eligibility rate.
The government is monitoring re-employment trends as Singapore transitions to a higher retirement age, ensuring both worker readiness and employer compliance with re-employment obligations.

Questions identified by AI (learn more)

Workers Reaching Current Retirement Age of 63 in Next Three Years | PAPERCUTS

Workers Reaching Current Retirement Age of 63 in Next Three Years

Debated in Parliament on 18 Sep 2023.

Summary written by AI (learn more)

In the next three years, 103,000 resident employees are expected to reach the statutory retirement age of 63, and employers are required to offer them re-employment if they have been with their current employer for at least two years before turning 63.
Surveys show that about 98% of these workers wish to continue working and are medically fit with satisfactory work performance, indicating a high re-employment eligibility rate.
The government is monitoring re-employment trends as Singapore transitions to a higher retirement age, ensuring both worker readiness and employer compliance with re-employment obligations.

Questions identified by AI (learn more)

Full Transcript

Keith Chua

Tan See Leng

Summary written by AI (learn more)

In the next three years, 103,000 resident employees are expected to reach the statutory retirement age of 63, and employers are required to offer them re-employment if they have been with their current employer for at least two years before turning 63.
Surveys show that about 98% of these workers wish to continue working and are medically fit with satisfactory work performance, indicating a high re-employment eligibility rate.
The government is monitoring re-employment trends as Singapore transitions to a higher retirement age, ensuring both worker readiness and employer compliance with re-employment obligations.

Questions identified by AI (learn more)

Workers Reaching Current Retirement Age of 63 in Next Three Years

Summary

Questions Identified

Full Transcript

Keith Chua

Tan See Leng

Summary

Questions Identified

Workers Reaching Current Retirement Age of 63 in Next Three Years

Summary

Questions Identified

Full Transcript

Keith Chua

Tan See Leng

Summary

Questions Identified