Reflections on National Day Rally 2019

National Day Rally 2019: Time to counter ageism in the workplace

Raising the retirement age is an inevitable policy shift. It's tougher to counter ageism and integrate the silver workforce better.

Prime Minister Lee Hsien Loong announced in his National Day Rally speech this year that Singapore will gradually raise the retirement age to 65, and the re-employment age to 70 by 2030.

This is consistent with the trend of postponing the retirement age in most industrialised countries. By 2030, the official retirement age can be expected to be extended to 67 in most Organisation for Economic Cooperation and Development countries. The main motivation for doing so is to compensate for the shrinking working-age population as a result of declining fertility rates since the 1960s.

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A version of this article appeared in the print edition of The Straits Times on August 22, 2019, with the headline 'Time to counter ageism in the workplace'. Subscribe