Firms want help with medical bill when retirement age goes up

Medical insurance costs are not the only concern - employers are also worried about the rigidity of a higher retirement age and the health and safety of older workers in some jobs.
Medical insurance costs are not the only concern - employers are also worried about the rigidity of a higher retirement age and the health and safety of older workers in some jobs.ST PHOTO: JOSEPH CHUA

Employer groups say smaller firms especially may struggle with the higher insurance costs

Bosses acknowledge that the retirement and re-employment ages need to rise, but they want help to meet the growing costs of medical insurance for their staff.

Employer groups told The Straits Times that while extending the working years of employees is to be expected as the population ages, smaller companies especially may struggle with the added expense.

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A version of this article appeared in the print edition of The Straits Times on March 09, 2019, with the headline 'Firms want help with medical bill when retirement age goes up'. Print Edition | Subscribe