Singapore to raise retirement age to 65 from 2029

This is a labour-supply story with a fiscal twist: Singapore is not just extending working lives but actively subsidising them through tax relief and higher employment-assistance payouts, which signals official concern about retirement adequacy as much as about labour shortages. The earlier-than-planned timing matters more than the one-year increment itself — it suggests the tripartite consensus moved faster than the original roadmap assumed. The measures affect older workers and their employers most directly, and the design tilts toward keeping lower-income seniors in work rather than merely permitting it. Whether the tax reliefs actually shift participation among those nearing the thresholds is the open question.