What is the minimum age for retirment?
I want to find out the minimum age for retirement in Singapore so that I would know if I have been wrongfully dismissed because of my age. Would I still be able to re-employ myself after I reach my age of retirement and would I get re-employment bonuses and benefits from the company or the government?
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The Retirement and Re-employment Act states that the minimum retirement age is 62 years so your company can't ask you to retire before 62. You are protected if you are a Singapore citizen or Singapore resident or joined your employer before you turned 55. Employees who turn 62 can still be employed in their company if they meet the criteria for re-employment. Through the Special Employment Credit, employers who voluntarily re-employ workers aged 65 and above will receive an extra offset of up to 3% of an employee’s monthly wages. The SEC enhancement will help employers manage their overall costs and encourage them to voluntarily re-employ employees aged 65 and above.