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Why are so many elderly working in Singapore?

According to the Ministry of Manpower, Singapore's employment rate for residents aged 65 and over was 31.7% in 2024, a notable increase that reflects a growing trend of seniors staying in the workforce. This rise begs the question: **Why are so many elderly working in Singapore?** The answer lies in a complex interplay of financial, demographic, and policy-related factors, including cost of living pressures, evolving retirement needs, and a tight labor market.