Do You Have to Retire at 65 in Singapore?

If you’re approaching the age of 65, you may be wondering if retirement is mandatory in Singapore. The answer is no. While 65 is the official retirement age in Singapore, you are not required to retire at this age. In fact, the government has been gradually raising the retirement age from 62 to 65 by 2030, to encourage older workers to stay in the workforce longer.

However, if you do choose to continue working past the age of 65, you should be aware that your employment terms may change. For example, your employer may reduce your salary or benefits, or offer you a different role with fewer responsibilities. It’s important to discuss these changes with your employer and negotiate a fair arrangement that works for both parties.

Retirement Age in Singapore

If you are wondering whether you have to retire at 65 in Singapore, the answer is not straightforward. The retirement age in Singapore has been subject to changes in recent years. In this section, we will explore the current retirement age in Singapore and the proposed changes to it.

Current Retirement Age

The current retirement age in Singapore is 63 years old, according to the Retirement and Re-employment Act (RRA). This means that your employer cannot ask you to retire before you turn 63 years old if you are a Singapore citizen or permanent resident and joined your employer before you turned 55 years old. However, you can choose to retire at any age you wish to, even before you turn 63 years old.

Proposed Changes to Retirement Age

In 2021, the Retirement and Re-Employment (Amendment) Bill 2021 and CPF (Amendment) Bill 2021 were passed. These bills will raise the retirement age and re-employment age in Singapore in stages. By 1 July 2022, the retirement age and re-employment age will be raised to 63 and 68 respectively. By 2030, the retirement age and re-employment age will be raised to 65 and 70 respectively.

The Singapore government has cited the need to raise the retirement age and re-employment age due to the increasing life expectancy and the desire to keep older workers in the workforce. This will also allow older workers to accumulate more savings in their CPF accounts before they retire.

It is worth noting that these changes will affect both employers and employees in Singapore. Employers will need to offer re-employment to eligible employees up to the re-employment age, and employees will have the option to continue working beyond the retirement age if they wish to.

Retirement Planning in Singapore

Retirement planning is an important aspect of your financial life. It involves setting aside funds to support your lifestyle when you are no longer working. Retirement planning is crucial because it allows you to maintain your standard of living and pursue your interests without worrying about money.

Why Retirement Planning is Important

Retirement planning is important because it helps you prepare for the future. It allows you to:

  • Ensure that you have enough money to support your lifestyle when you retire
  • Minimize the risk of running out of money during retirement
  • Protect your assets and investments
  • Plan for unexpected events, such as medical emergencies or job loss

Factors to Consider in Retirement Planning

When planning for retirement, there are several factors that you should consider:

Retirement AgeThe age at which you plan to retire
Retirement IncomeThe amount of income you will receive during retirement
ExpensesYour expected expenses during retirement, including healthcare, housing, and other living expenses
InvestmentsYour current investments and how they may perform in the future
DebtYour current debt and how it may affect your retirement plans

Retirement Planning Options in Singapore

In Singapore, there are several retirement planning options available:

  • Central Provident Fund (CPF) – a mandatory savings scheme for Singaporeans and Permanent Residents
  • Supplementary Retirement Scheme (SRS) – a voluntary scheme that allows you to save for retirement and reduce your taxable income
  • Insurance – retirement plans that provide a guaranteed income stream during retirement
  • Investments – stocks, bonds, and other investments that can provide a source of income during retirement

It is important to consider your individual financial situation and goals when choosing a retirement planning option.

Employment and Retirement

As you approach the traditional retirement age of 65, you may be wondering whether you have to retire at that age in Singapore. Here, we will explore some of the retirement policies in Singapore companies and options for working after retirement.

Retirement Policies in Singapore Companies

According to the Ministry of Manpower Singapore, the minimum retirement age is 63 years under the Retirement and Re-employment Act (RRA). However, the work group has recommended that the retirement age be raised to 65 and the re-employment age to hit 70 by 2030, in a step-by-step process. This is to support older Singaporeans who wish to continue working and also better prepare Singaporeans for retirement.

If you are a Singapore citizen or permanent resident and joined your employer before you turned 55, your company cannot ask you to retire before the age of 63. This means you have some protection against forced retirement, but it is important to check your employment contract to understand your specific situation.

Some companies have their own retirement policies that may differ from the minimum requirements set by the government. For example, some companies may have a mandatory retirement age of 60 or 62. It is important to understand your company’s policy and plan accordingly.

Working after Retirement

If you want to continue working after retirement, there are several options available to you. One option is to negotiate with your current employer for a re-employment contract. Under the RRA, employers are required to offer eligible employees a re-employment contract until the age of 67. However, this age will be raised to 70 by 2030. The terms of the re-employment contract, such as salary and job scope, will be mutually agreed upon by you and your employer.

Another option is to find part-time or freelance work. This can provide you with flexibility and allow you to continue working in a capacity that suits your needs and interests.

Alternatively, you may choose to retire fully and enjoy your golden years. Whatever your decision, it is important to plan for retirement early and ensure you have enough savings to support yourself in the future.


Retirement in Singapore can be a complex process, and there is no one-size-fits-all solution. The official retirement age is set to increase gradually to 65 years old by 2030, but this does not mean that you have to retire at this age.

It is important to assess your financial situation and determine how much you need to retire comfortably. This includes considering your post-retirement income, savings, and expenses. You may also want to consider working part-time or pursuing a new career to supplement your income and keep yourself active and engaged.

Remember that retirement is not just about financial planning, but also about maintaining a healthy and fulfilling lifestyle. Take care of your physical and mental health, and stay connected with your loved ones and community. This will help you enjoy a happy and meaningful retirement.

Ultimately, the decision to retire and when to retire is up to you. Consider your personal goals and priorities, and make a plan that works best for you. With careful planning and preparation, you can enjoy a comfortable and fulfilling retirement in Singapore.