The NTUC efforts on re-employment started in 2006, with the support of its tri-partite partners. Since then, 1,071 unionized companies have committed to the re-employment of older workers within their organisations and employ about 10,564 workers aged 62 and above to date.
As part of a set of measures to enable older employees to work longer, the re-employment legislation will take effect from 1January 2012 to enable more people to continue working beyond the current statutory retirement age of 62, up to 65 in the first instance and, later, up to 67.
1 DSG Heng Chee How was the Guest of Honour at a lunch this afternoon which recognised 23 companies who are early adopters in adopting the 5 key focus areas championed by NTUC to attain sustainable and scalable re-employment practices in the following areas :
A. Aligning HR policy with tripartite guidelines to expand job opportunities for older workers,
B. Adoption of performance-based remuneration to maintain cost competiveness of older workers,
C. Adopting Job re-design efforts to make workplaces age-friendly and conducive to re-employment,
D. Adopting workplace health programrs to help older workers stay fit and healthy,
E. Adopting continuous education and training to enhance the employability of older workers.
2. The companies recognised came from a variety of industries, from the banking and finance sectors to the healthcare sectors.
3. The NTUC believes that these companies are exemplary employers who show that there are tangilble programs to make re-employment sustainable, as employers and the unions have and will continue to play a crucial part in the re-employment effort.
4. “It’s a crucial time for all stakeholders, employees and employers alike as we reach the six month count down to the enforcement of the re employment legislation and the Unions play a crucial role in mediating and championing the rights of active ages in this respect” DSG Heng was quoted on the sidelines of the recognition lunch.
5. With an aging population, it is important that older workers between the ages of 55 to 64 be equipped and strengthened to form key foundations to increase the workforce. DSG Heng noted that the legistaltion gave all older workers the opportunity to be retained and more importantly welcomed back to the workforce and have a active and meaningful work experience.
6. DSG Heng reiterated that re-employment was not the same as raising the retirement age, and that it was a win-win for both employers and employees. By 2030, 1 in 5 Singapore residents will be 65 & above, and someone who retire at 62 today will be expected to live for another 20 years. At the same time, with the tight labour market, matured workers will be an important valuable supply of labour to businesses.
