58% of senior workers are employed full-time, according to Manpower Minister Tan See Leng.
SINGAPORE: Close to 70% of elderly workers in Singapore earn less than S$2,500 monthly, as reported by Manpower Minister Tan See Leng on Tuesday (Feb 7).
This response came in reply to parliamentary questions from Non-Constituency Member of Parliament (NCMP) Leong Mun Wai, who asked about the employment rates and earnings of Singaporeans aged 65 and above.
In 2022, 207,300 residents aged 65 and above were employed, representing an employment rate of 31%. Minister Tan noted that this rate is relatively high compared to other countries in the Organisation for Economic Co-operation and Development (OECD), largely due to Singapore’s high life expectancy.
However, 142,400 elderly workers (68.7%) earned less than S$2,500 in gross monthly income, excluding employer contributions to the Central Provident Fund (CPF). Among them, 81,900 (57.5%) worked full-time.
Additionally, around 27,000 elderly workers earned between S$2,500 and S$3,000, while 37,800 made at least S$4,000. Notably, a third of the elderly workforce held part-time positions, which typically offer lower pay due to fewer working hours and the nature of the roles available.
These statistics were derived from the Ministry of Manpower’s labour force survey. Dr. Tan also highlighted the top five industries employing senior workers in 2022: wholesale and retail trade, administrative and support services, transportation and storage, accommodation and food services, and manufacturing.
In his remarks, Dr. Tan reaffirmed the government’s support for senior workers, revealing that a wage offset scheme for employers who hire Singaporeans aged 60 and above earning up to S$4,000 a month has been extended until 2025. A grant encouraging flexible work arrangements and structured career planning for senior employees will also continue with revised eligibility criteria.
