ST Roundtable to discuss changes for older workers

A higher retirement age does not mean people must work until that age. They can retire any time they want, but companies cannot dismiss them because of age before the retirement age.
A higher retirement age does not mean people must work until that age. They can retire any time they want, but companies cannot dismiss them because of age before the retirement age.PHOTO: ST FILE

The move to extend the retirement and re-employment ages and raise CPF contribution rates to better support older workers has generated public discussion since it was announced at the National Day Rally on Sunday.

Workers and companies can also look forward to help in planning their careers, more part-time employment opportunities and age-friendly workplaces, based on recommendations by a tripartite workgroup in its report.

A Straits Times Roundtable on strengthening support for older workers, organised in partnership with the Ministry of Manpower, National Trades Union Congress (NTUC) and Singapore National Employers Federation (SNEF), will discuss some of these issues today.

Manpower Minister Josephine Teo, NTUC secretary-general Ng Chee Meng, SNEF president Robert Yap and Associate Professor Chia Ngee Choon of the National University of Singapore's Department of Economics will be on the panel. The discussion will be moderated by Straits Times news editor Zakir Hussain.

Mrs Teo, Mr Ng and Dr Yap are advisers to the Tripartite Workgroup on Older Workers, which comprises representatives from NTUC, the Government and SNEF who had intense discussions on balancing the need for giving older workers assurance of continued employment on the one hand, and giving employers the flexibility to manage cost pressures amid economic uncertainty on the other.

The panellists will share how the tripartite partners negotiated a consensus on the issue, and give their views on how workers can prepare themselves for longer careers as well as on how employers can redesign jobs and workplaces.

Readers can follow reports on the roundtable in The Straits Times tomorrow as well as video highlights next week.

 
 

Older workers will soon be able to work longer if they wish when the retirement age goes up from 62 to 63 in 2022, and to 65 by 2030. The re-employment age will rise from 67 to 68 in 2022, and to 70 by 2030.

Central Provident Fund (CPF) contribution rates will also rise over the next decade for workers aged 55 to 70.

A version of this article appeared in the print edition of The Straits Times on August 23, 2019, with the headline 'ST Roundtable to discuss changes for older workers'. Print Edition | Subscribe