Ct3833 Supersonic August 18, 2019 Share August 18, 2019 (edited) Lai liao , lai liao. Singapore’s retirement age will increase in phases from 62 to 65 by 2030, Prime Minister Lee Hsien Loong announced on Sunday (18 August), as part of measures to support older workers and companies that employ them. Speaking at the 2019 National Day Rally, Lee said that the re-employment age will also be increased from 67 to 70 by 2030. https://sg.yahoo.com/news/ndr-2019-retirement-age-to-rise-progressively-to-65-by-2030-reemployment-age-at-70-by-then-pm-lee-134532800.html I think this is a good move to ensure employers wont simply retire their older workers. At least an employer must pay his staff retrenchment fees if the company decides not to use him, though retrenchment sum is not significant signficant I sgp. Raising CPF contributions for above age 55 is not necessary, but anyway CPF can be withdrew after age 55, so it does not matter, if one needs more cash, he just need to go withdraw from CPF OA account since he has reached the CPF withdrawal age 55. The other Important consideration is medical, if one is employed, his medical is covered to some extent, once he leaves the workforce, his medical will be out of his own pocket, the medical amount can be substantial from time to time. But hope these are the precursor for them to increase cpf withdrawal age limit or to extend the starting age of CPFLife. Edited August 18, 2019 by Ct3833 ↡ Advertisement 2 Link to post Share on other sites More sharing options...
Silver_blade Turbocharged August 18, 2019 Share August 18, 2019 (edited) Agree. It protect the employment rights of those who want to work beyond 62 or 65. Edited August 18, 2019 by Silver_blade 3 Link to post Share on other sites More sharing options...
Throttle2 Supersonic August 18, 2019 Share August 18, 2019 I dont know I just hope i can continue my asst to manager job at sungei kadut. $1800 pm , peaceful life, can already. No pomp, no bright lights. Good luck to everyone Link to post Share on other sites More sharing options...
Enye Hypersonic August 18, 2019 Share August 18, 2019 wah... 70 yo still got enough energy for storeman job? Link to post Share on other sites More sharing options...
Wt_know Supersonic August 18, 2019 Share August 18, 2019 (edited) does not matter ... as long as property loan is extended to 70 ... huat ah! wah... 70 yo still got enough energy for storeman job? Edited August 18, 2019 by Wt_know Link to post Share on other sites More sharing options...
Throttle2 Supersonic August 19, 2019 Share August 19, 2019 does not matter ... as long as property loan is extended to 70 ... huat ah! wah promoted to Asst Manager liao la ... must be high achiever ... every 2 year promote type by 70 reach Chairman level .... lol Wah lau read properly Asst to manager Not asst manager *facepalm* Link to post Share on other sites More sharing options...
RadX Moderator August 19, 2019 Share August 19, 2019 Wah lau read properly Asst to manager Not asst manager *facepalm* liddis ah 3 Link to post Share on other sites More sharing options...
Victor68 Turbocharged August 19, 2019 Share August 19, 2019 Why the sudden changes? Link to post Share on other sites More sharing options...
Kusje Supersonic August 19, 2019 Share August 19, 2019 (edited) Lai liao , lai liao. Singapore’s retirement age will increase in phases from 62 to 65 by 2030, Prime Minister Lee Hsien Loong announced on Sunday (18 August), as part of measures to support older workers and companies that employ them. Speaking at the 2019 National Day Rally, Lee said that the re-employment age will also be increased from 67 to 70 by 2030. https://sg.yahoo.com/news/ndr-2019-retirement-age-to-rise-progressively-to-65-by-2030-reemployment-age-at-70-by-then-pm-lee-134532800.html I think this is a good move to ensure employers wont simply retire their older workers. At least an employer must pay his staff retrenchment fees if the company decides not to use him, though retrenchment sum is not significant signficant I sgp. Raising CPF contributions for above age 55 is not necessary, but anyway CPF can be withdrew after age 55, so it does not matter, if one needs more cash, he just need to go withdraw from CPF OA account since he has reached the CPF withdrawal age 55. The other Important consideration is medical, if one is employed, his medical is covered to some extent, once he leaves the workforce, his medical will be out of his own pocket, the medical amount can be substantial from time to time. But hope these are the precursor for them to increase cpf withdrawal age limit or to extend the starting age of CPFLife. There is no requirement for retrenchment benefits to be paid in SG leh. But yes, it makes it somewhat more difficult of the company to get rid of older workers. On the flip side, it also makes middle aged workers harder to employ. Edited August 19, 2019 by Kusje 1 Link to post Share on other sites More sharing options...
Staff69 Hypersonic August 19, 2019 Share August 19, 2019 There is no requirement for retrenchment benefits to be paid in SG leh. But yes, it makes it somewhat more difficult of the company to get rid of older workers. On the flip side, it also makes middle aged workers harder to employ. there are many, many ways to get rid of employees so long you know how to walk the grey line 6 Link to post Share on other sites More sharing options...
Throttle2 Supersonic August 19, 2019 Share August 19, 2019 liddis ah No branch, only one main office at Sungei Kadut Moreover, i am not asst manager I am asst to the manager.... Mai suan hor Link to post Share on other sites More sharing options...
Victor68 Turbocharged August 19, 2019 Share August 19, 2019 there are many, many ways to get rid of employees so long you know how to walk the grey line Link to post Share on other sites More sharing options...
Throttle2 Supersonic August 19, 2019 Share August 19, 2019 There is no requirement for retrenchment benefits to be paid in SG leh. But yes, it makes it somewhat more difficult of the company to get rid of older workers. On the flip side, it also makes middle aged workers harder to employ. Yah lor, like me, unemployed since late 2015.... Link to post Share on other sites More sharing options...
BanCoe Hypersonic August 19, 2019 Share August 19, 2019 Selling art of Relex ?? Yah lor, like me, unemployed since late 2015.... 2 Link to post Share on other sites More sharing options...
Angcheek Hypersonic August 19, 2019 Share August 19, 2019 Foreign companies wont like it ... 3 Link to post Share on other sites More sharing options...
pinto22sg 2nd Gear August 19, 2019 Share August 19, 2019 So now 50 years of age is like late middle age. Lol. Link to post Share on other sites More sharing options...
13177 Supersonic August 19, 2019 Share August 19, 2019 (edited) So now 50 years of age is like late middle age. Lol. Due to longer life and longer retirement age, now 50 year old of age indeed still very young. Edited August 19, 2019 by 13177 1 Link to post Share on other sites More sharing options...
Playtime Twincharged August 19, 2019 Share August 19, 2019 Due to longer life and longer retirement age, now 50 year old of age indeed still very young. but every one says its almost impossible to get a job at that age... ↡ Advertisement Link to post Share on other sites More sharing options...
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