Written Answer to PQ on Number of workers reaching re-employment age
NOTICE PAPER NO. 2194 OF 2023 FOR THE SITTING ON 18 SEPTEMBER 2023
QUESTION NO. 5001 FOR WRITTEN ANSWER
MP: Mr Keith Chua
To ask the Minister for Manpower in each of the next three years from 2023, what is the number of workers who will reach the re-employment age limit of 68 years old and are likely to exit the workforce.
Answer:
1. 73,000 resident employees will reach the statutory re-employment age of 68 in the next three years. However, not all of them will exit the workforce upon turning 68. The employment rate of residents nearing or past the re-employment age has increased in recent years. In 2022, the employment rate of residents aged 70 and above was 21.1%, up from 15.8% in 2017.