NTUC raises retirement age to 64 and re-employment age to 69
Those who work for the National Trades Union Congress (NTUC) will get to stay on till 64 and, if eligible and willing, be re-employed till 69 come Jan 1, 2025, even before the retirement age and re-employment age are raised nationally.
NTUC said in a statement on Dec 9 that the latest increases to the retirement age and re-employment age come one-and-a-half years ahead of the national schedule, and is in line with NTUC’s commitment to age-inclusive employment practices.
The current retirement age of 63 and re-employment age of 68 have been in place since 2022.
The Government had said in 2019 the retirement age would be raised in steps to 65 and the re-employment age to 70 by 2030.
The Public Service Division had said in July it would take the lead to raise the retirement age to 64 and re-employment age to 69 from July 1, 2025, one year ahead of the date set for this fresh round of increases.
On Dec 9, NTUC said it is committed to supporting its older employees before they reach the retirement age and re-employment age.
It noted that it has raised both these ceilings ahead of national schedule for the second time since 2019.
NTUC previously raised the retirement age to 63 and re-employment age to 68 for its employees in 2021, which was also one-and-a-half years ahead of the national schedule.
“For employees approaching retirement, NTUC engages them early to discuss their re-employment and retirement plans, offering targeted training opportunities to help them remain relevant.”
It also said older workers are assured that their employment benefits and salary remain consistent upon re-employment, unless there is a mutually-agreed change in job scope and role.
“Employees on re-employment also continue to receive tailored learning and development support, as well as access welfare benefits like health screenings and retirement planning.
“In addition, NTUC also offers job redesign and flexible work arrangements where needed, to better support their continued contributions.”
The labour movement also provided figures on the total number of older workers above the prevailing statutory retirement age of 63 in its Dec 9 statement.
It said that NTUC, NTUC Club, NTUC Enterprise and its businesses now employ over 2,350 employees aged above 63.
These businesses include FairPrice Group, Income Insurance, NTUC First Campus, NTUC Health and NTUC LearningHub.
NTUC noted that 448 or so employees stand to benefit from the early raising of the retirement age, while about 271 employees stand to benefit from the early raising of the re-employment age.
NTUC secretary-general Ng Chee Meng said the labour movement is committed to giving older employees access to meaningful employment opportunities.
“By raising the retirement age and re-employment age for our NTUC employees ahead of the national schedule, we are taking proactive steps to build a more inclusive workforce.
“We care for our older workers and can’t do without them – their wealth of experience, dedication, and resilience are invaluable in driving our economy forward and shaping a stronger Singapore,” Mr Ng said.
The labour movement also said it would continue to champion the interests of older workers, including advocating for equal access to training opportunities and job redesign to help them stay competitive in an evolving workforce.
“Through updated skill sets, older workers can stay adaptable and relevant across various industries, while redesigned job roles leverage their strengths and address their evolving needs.”
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