Senior Worker Early Adopter Grant

In 2019, the Singapore government announced it will increase the retirement age (RA) to 65 years old by 2030, while it will increase the re-employment age (REA) up to 70 years old. This year, the Central Provident Fund or CPF contribution rates will be increased as well to boost elder workers’ retirement savings.

In addition to these changes to support elder workers, the government has in place support packages namely the Senior Worker Early Adopter Grant (SWEAG) and the Part-Time Re-employment Grant (PTRG).

These grants are available from 1 July last year, to employers who are willing and able to implement higher internal retirement age and re-employment age and provide more part-time re-employment opportunities.

What Is the Senior Worker Early Adopter Grant (SWEAG)?

It provides support of up to a maximum of $250,000 for employers to increase their own retirement and re-employment ages ahead of legislative schedule.

The SWEAG funding computation will be based on the number of resident Senior Workers (SWs) and the extent of increase in internal retirement and re-employment ages. The total eligible funding caters to a maximum of 50 Senior Workers (SWs) per employer.

If there are varying extensions to the workers’ retirement or re-employment ages for different groups of Senior Workers, i.e. increase the RA/REA for its 40 Executives by 3 years, but for its cleaners by 1 year, the Grant will be tied to the lowest tier of Funding which is the first row from the table.

What Is the Part-Time Re-employment Grant (PTRG)?

It provides support of up to a maximum of $125,000 for employers who commit to a part-time re-employment policy for its eligible senior workers.

The PTRG funding computation will be based on the number of Senior Workers (SWs) employed, at $2,500 per resident senior worker, up to a cap of $125,000 per employer.

How to qualify?

In order to be eligible, employers have to complete the following.

1. a) Furnish updated HR policy properly documented on:
2. SWEAG: internal retirement and re-employment ages showing the respective increases from current policy.
3. PTRG: the part-time re-employment policy for Senior Workers
4. b) Document the communication of the new policy to all employees via mediums such as employees’ accessible website, email, memo/circular and employee handbook.
5. c) Submit duly completed claim form that includes information on all senior workers.
6. d) Issue addendums to employment contracts documenting the policy change to all employees.
7. e) The addendums will need to be individually addressed to and signed by the Senior Workers.
8. f) For all other workers, the addendums can be standardised without having to be individually addressed nor acknowledged.
9. g) Submit CPF Form 90 of all the senior workers you are claiming for.
10. h) Prepare NRICs of Senior Workers for sighting by the programme partner (either physically, virtually or via photocopies).

How to apply?

All employers can apply for SWEAG and/or PTRG if they are legally registered or incorporated in Singapore. This includes societies and non-profit organisations such as charities and voluntary welfare organisations. Governmental agencies, statutory boards and other organs of state are not eligible.

NTUC’s e2i and SNEF are the appointed Programme Partners for SWEAG and PTRG. This service is available to employers at no cost. Employers are to directly submit the applications themselves. If you wish to find out more, talk to us today.

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