SINGAPORE: Close to seven out of 10 working elderly in Singapore earn less than $2,500, according to figures provided by Manpower Minister Tan See Leng on Tuesday. He was writing in response to parliamentary questions by Non-Constituency Member of Parliament Leong Mun Wai about the number of Singaporeans over 65 years old still working along with their salaries and industries.
A total of 207,300 Singapore residents aged 65 and above were employed in 2022 - an employment rate of 31 per cent, said Dr Tan.
He said that this is high compared to OECD Organisation for Economic Cooperation and Development countries, and is probably the result of the high life expectancy of Singaporeans.
142,400 residents or 68.7 per cent earned a gross monthly income of less than S $2,500 excluding employers' Central Provident Fund contributions.
81,900 or 57.5 per cent of them were working full-time.
About 27,000 elderly residents earned between S $2,500 and S $3,000 while 37,800 were paid at least S $4,000.
A third of the 65 and above employed residents were part-time workers, according to Dr Tan.
He said that part-time workers tend to earn less, because of the fewer hours worked and nature of the jobs offered.
The labour force survey by the manpower ministry was used to calculate the figures.
In 2022, the top five industries employing the most resident workers aged 65 and above were wholesale and retail trade, administrative and support services, transportation and storage, accommodation and food services, as well as manufacturing.
In an update to a national blueprint for Singapore's ageing population on January 30, Dr Tan said that employment rates for senior workers have continued to improve.
From 2023 to 2025, he has also announced the extension of a scheme that provides wage offsets for employers who hire Singaporeans aged 60 and above earning up to S $4,000 a month.
A grant to nudge employers to offer flexible work arrangements and structured career planning for their senior workers will be extended over the same period, with revised eligibility criteria.