Toward successful aging country
Singapore will raise re-employment age to 67
Priminister Lee Hsien Loong announced that the re-employment age will be raised from 65 to 67, at the National Day Rally held a week ago.
The current re-employment age 65 was set 3 years ago, and "employers are starting to benefit from it" added Mr Lee.
Last week's The Straits Times introduces some comments from seniors.
"If I sit at home and do nothing, I will go ga-ga."
"65 may be too early to stop work. We want the government to raise the re-employment age."
The existing idea of re-employment is that bosses must rehire healthy workers who have performed satisfactorily until they reach 65 or give them a one-off payment.
Within coming 2 years, companies will have to work out arrangements so that older workers can contribute and not to be burden to their employment, said Mr Lee.
"Frankly speaking, I think it is practical that the senior workers continue working till that age 67. Cost of living here in Singapore is rising, and they won't be able to afford if they retire soon," says my local colleague. I must admit that I somehow afree to his opinion.