Will I be working till 67 (raised re-employment age)?
"Many people who are in their 60s want to work longer. They say, “If I sit at home and do nothing, I will go ga-ga. Furthermore, my wife will tell me to go and do something about it." So we raised the re-employment age to 65 three years ago. And the unions and workers were very happy. I think the employers have accepted it. They are adjusting to it and starting to benefit from it. It’s still too early to judge but so far, it seems to be working well.From the workers’ point of view, 65 may be too early to stop work. Workers want us to raise the re-employment age and they want to keep working for as long as they are healthy. I hear this every time I attend a union function. I reply, “Yes, I agree fully. We will do it, we have chosen a right time to do it because we want to make sure that the employers have the practical arrangements, and you can make a contribution to your company and it will not be a burden to the company.” Otherwise, it’s not sustainable. But we have been working on this problem. The tripartite partners have been discussing this and I am happy to tell you that they have reached an agreement. And the agreement is that we will pass legislation to raise the re-employment age from 65 to 67. We will do it by 2017, in other words, after the coming election."
With that announcement, the social media was rifled with comments that in Singapore you will never be able to retire. You will have to work till 67, 75 or even taking up exercise routines like selling card-boards (pun intended. Singaporean will probably understand).
"Retirement age" has been pushed back time and time again.