Singapore extended support for older workers in the aging island nation.
The retirement age will be gradually raised to 65 from 62, Prime Minister Lee Hsien Loong said in his annual National Day Rally speech. The re-employment age, where employers must offer work in the same organization, will rise to 70 from 67.
The city-state also will increase pension-contribution rates for workers so that by 2030, any worker age 60 or below will get the full rate, Lee said.
Singaporeans now have the longest life expectancy in the world at nearly 85 years, Lee said in his speech, adding that there are 1,300 centenarians among a population of less than 6 million
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