Written Answer to PQ on Number of workers reaching retirement age

NOTICE PAPER NO. 2191 OF 2023 FOR THE SITTING ON 18 SEPTEMBER 2023
QUESTION NO. 4989 FOR WRITTEN ANSWER

MP: Mr Keith Chua

To ask 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.

Answer:

1. 103,000 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 2 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.