Hi friends,
"If I stop working, I'll get old."
That's what Pa said when his company offered to keep him on after 64.
At dinner, his three children all said some version of the same thing. "Pa, you've worked so many years already. Rest lah. Go travel."
He shook his head and went back to his fish.
His daughter was a little annoyed. Then, later that night, a little worried.
Was he still working because he wanted to? Or because he thought he had to? Did he have enough? Was he quietly afraid of something none of them had noticed?
She realised she didn't know. In forty years, nobody had ever really asked.
So one Saturday morning, over kopi at the coffee shop downstairs, she tried something different. She didn't ask when he was stopping.
She asked, "Pa, what part of work would you miss the most?"
He took a long time to answer.
"The people. Having somewhere to be in the morning."
Then, after a while: "And I don't want to ask you all for money."
That was a very different conversation from the one at dinner.
(This family is illustrative, not a specific client. But I suspect many of us will recognise that dinner.)
What changed last week
On 26 October, the Ministry of Manpower announced that the statutory retirement age will go up from 64 to 65, and the re-employment age from 69 to 70, on 1 January 2029. That's a year earlier than previously planned. The retirement and re-employment ages only went up to 64 and 69 this July.
In plain words: employers can't let someone go because of age before the retirement age, and they must offer re-employment to eligible workers up to the re-employment age.
For many of our parents, this is good news. Work gives structure, friends and a reason to get dressed in the morning. MSF's own family guidance notes that many older Singaporeans still report feeling lonely, even when living with their children. For some, the office or the shop floor is where the loneliness stays away.
But it also means more families will have a parent working into their late 60s, and more kids wondering, "Is this okay? Should we be doing something?"
Three numbers families often mix up
This is the part I find most useful to share, because so many people (including working adults in their 40s) blur these together.
64: today's retirement age. It's about employment protection. It isn't a deadline to stop work, and it isn't when CPF payouts begin.
65: the CPF payout eligibility age. This is the earliest age CPF LIFE monthly payouts can start. CPF Board is clear that it is not linked to the retirement or re-employment age. Someone can keep working at 65 and still start payouts, or stop work earlier and wait for 65. CPF says it will send a notification about three months before a member's 65th birthday explaining the options.
70: the latest start. Payouts can be started any time between 65 and 70. According to CPF Board, each year of deferral can increase the monthly payout by up to 7%, and if no instruction is given, payouts start automatically at 70.
Whether starting earlier or later makes sense depends entirely on the person: their health, their other income, what they need month to month. CPF itself says deferring isn't right for everyone. That's a conversation for each family, ideally with the facts on the table rather than assumptions.
The point isn't to work any of it out over dinner. It's simply that once a family knows these are three separate things, a lot of the anxiety goes out of the room.
The quiet window while Pa is still working
Here's something I've seen again and again.
When a parent is still working, sharp and busy, everyone assumes there's plenty of time. Planning feels like something for "later", for when they're older or unwell.
But that's exactly the season when the important paperwork is easiest to do. Clear head. Clear wishes. No crisis.
A few things families commonly look at during this window:
A Lasting Power of Attorney (LPA), which lets a person choose who can make decisions for them if they one day lose mental capacity. It can only be made while they still have capacity.
A will, so their wishes about their assets are written down, not guessed at.
Their CPF nominations, because CPF savings are distributed by nomination, not by a will.
None of this is about expecting the worst. It's about Pa staying in charge of his own story, and his children never having to guess.
Small doors, not big talks
I'll be honest. I'm not good at the big direct conversation with my own parents either. "Pa, when are you retiring?" can land like "Pa, you're getting old." Or worse, "Pa, are you okay for money?"
So I look for small doors instead. A few that tend to open gently:
"What part of work would you miss the most?"
"What would a good day look like for you, if work stopped tomorrow?"
Or simply asking about his colleagues, and listening.
And if a parent does decide to slow down but still wants somewhere to be, there are new options. On 30 October, MOH launched Age Well Kakis, which matches volunteers aged 50 and above with roles at Active Ageing Centres and other community care touchpoints, like accompanying seniors to appointments or delivering meals, with a small stipend. For a parent whose real fear is "having nowhere to be", that might matter more than any number.
Working longer can be a gift. The goal is just that it's a choice, made with the whole family on the same page.
If this got you thinking about your own family, WhatsApp me at +65 9048 2463.
To a strong and lasting legacy,
Edward Shee (施文山)
CFP, MDRT 2023/2025, IBFA, AEPP
Associate Director, Financial Advisory
RNF No: SBS200040073
Synergy Financial Advisers Ltd
M +65 9048 2463 | W [email protected]
A 51 Bras Basah Rd, #07-03, Lazada One, Singapore 189554
Edward Shee, Associate Director, Financial Advisory | RNF SBS200040073 | representing Synergy Financial Advisers Ltd
General Advice Disclaimer: https://synergy.com.sg/disclaimer-general-advice
Disclaimer
The information provided in this article is for general informational and educational purposes only and does not constitute financial, legal, or tax advice. The views and opinions expressed are those of the author and do not necessarily represent the views of Synergy Financial Advisers Ltd.
Financial planning decisions should always be made based on your individual circumstances. You are encouraged to seek personalised advice from a qualified financial adviser before making any financial or estate planning decisions.
Edward Shee Boon Sun is a licensed representative of Synergy Financial Advisers Ltd.
Sources checked 2 Nov 2026: MOM press release on the Tripartite Workgroup on Senior Employment (26 Oct 2026); CPF Board, "What is the CPF LIFE payout age?" and "Should you defer your CPF LIFE payouts?"; MSF Family Assist, "Caring for Elderly Parents"; MOH, Age Well Kakis launch (30 Oct 2026). The image is illustrative and AI-generated; the story is illustrative and not about a specific client.