SINGAPORE: The tripartite consensus to raise the retirement age and re-employment age beyond 62 and 67 respectively is a “significant milestone” that will provide more assurance to seniors who wish to continue working, Manpower Minister Josephine Teo said on Monday (Apr 29).“I am confident it will motivate both workers and employers to invest in skills upgrading and job redesign for older workers,” she said in her May Day Message.The tripartite workgroup was set up last May to look at whether the current retirement age and the re-employment age need to be changed, as well as examine the impact of CPF contribution rates on retirement adequacy of older workers, among other things.In March, Mrs Teo had announced during her ministry’s Committee of Supply debate that the Government, unions and employers had reached a consensus on the closely-watched issue. During the Budget debates, Nominated MP and veteran unionist Arusu Duraisamy had asked for the retirement age to be raised from 62 to 65, and the re-employment age from 67 to 70.In his May Day message, NTUC Secretary-General Ng Chee Meng said that while this is the Labour Movement’s “aspiration”, the workgroup needs more time to iron out details.On Monday, Mrs Teo said that the workgroup… Read full this story
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