Personal Finance
Reminder: Retirement Age is Increasing; Open and Fund Your SRS Account Now
By Sethisfy  •  June 26, 2022
If you haven’t watched my video on retirement age increasing in Singapore, you should: Even if you are far away from retirement age, the increase in retirement age is something that affects you, and there are steps you can and should take before 1st July 2022. Retirement age is increasing For some context on what is happening: from 1st July 2022, the retirement age in Singapore will officially increase from 62 to 63, and the re-employment age will increase from 67 to 68. By 2030, the government intends to gradually increase the retirement age to 65, and the re-employment age to 70. What is retirement age and re-employment age? The retirement age in Singapore disallows employers from dismissing employees because of the employee’s age. For the avoidance of doubt, this does not mean that Singaporeans are mandated to work until retirement age. It is protection against ageism for older Singaporeans who wish to continue working. Upon reaching the re-employment age, employers must offer re-employment to employees as...
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By Sethisfy
As an adult, I’ve been through many ups and downs in my career path and personal finance journey, not unlike many Singaporeans. From my years as a tied insurance agent turned independent financial adviser, I realised that there are very few sources of proper, unbiased financial advice for working adults to access. Worse, self-styled “financial consultants” are selling products like savings plans and ILPs to the detriment of the clients whose interests they were supposed to serve.
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