Elderly Singaporeans pushing for higher retirement age

The seniors also showed support for a re-employment age of 68 years old and higher.

About nine in 10 seniors (aged 50 years or older) said they are in full support of a higher retirement age of 63 years old and up, a survey showed.

The National Trades Union Congress (NTUC) and the People's Action Party's Seniors Group (PAPSG) collaborated to advance senior citizens' interests through a survey.

The survey also showed that around 80% of respondents are in favour of a re-employment age of 68 and higher.

Conducted from 7 to 21 August, the survey collected responses from 1,471 individuals, all aged 50 and above. The survey’s goal was to gain insights into seniors' workplace aspirations.

This workplace support survey was unveiled last 23 September, during an International Day of Older Persons (IDOP) event held at Amara Hotel.

Commissioned by PAPSG and NTUC U Women and Family (NTUC U WAF), the survey revealed a strong preference among seniors for raising both the retirement and re-employment age.

Despite the positive outlook on extended employment, the survey uncovered concerns related to negative employer attitudes. These concerns include age discrimination (63.4%), inflexible working arrangements or long working hours (59.6%), and limited availability of suitable job opportunities (52.6%).

ALSO READ: OCBC upskills 2,000 elderly customers with its Digital Silvers programme

The results also indicated that 61.5% of senior workers are interested in pursuing further career advancement opportunities, and 65.9% of participants consider the availability of flexible work arrangements as influential in their decision to continue working post-retirement.

PAPSG IDOP 2023 Organizing Chair Yip Hon Weng hopes the government will promote more flexible work opportunities for seniors, as many desire part-time work and the ability to alternate between work and leisure.

Corporate commitments to age-friendly workplaces

In response to the survey findings, 12 companies have reaffirmed their commitment to creating age-friendly workplace environments.

These companies, including Chye Thiam Maintenance, Creative Eateries, First Sight International Private Limited, and Lifelong Learning Academy, collectively impact nearly 4,000 employees.

The companies have pledged to raise retirement and re-employment ages, implement flexible work strategies, and combat ageism in the workplace.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia