Singapore Plans Gradual Retirement Age Increases Through 2030

Retirement and aging-related issues are increasingly shaping economic and workforce trends globally and in the U.S. Singapore is raising its retirement age from 63 to 64 and the re-employment age from 68 to 69 starting in 2026, with employers needing to adapt their HR strategies to meet these new legal requirements and support an aging workforce. In the U.S., the aging population is projected to be nearly 21% by 2030, creating a $1.7 trillion 'silver economy' opportunity focused on healthcare, housing, and consumer services, with states like Utah, Idaho, Connecticut, and Delaware emerging as key investment areas due to favorable healthcare systems and senior support services. Financial literacy remains a critical challenge, particularly among Generation Z, who score lowest on financial knowledge assessments, though behavioral nudging shows promise in improving their financial decision-making. For retirees, sustainable income planning is essential, with strategies emphasizing guaranteed income products such as annuities and optimizing Social Security benefits to mitigate risks like market volatility and sequence of returns. These interconnected trends underscore the importance of proactive planning, from workforce policies in Singapore to investment and retirement strategies in the U.S., to address the economic and social implications of aging populations.