Saturday, May 1, 2010

AN OPTION FOR OLDER WORKERS: TO BE RETIRED OR REHIRED

Click to enlarge. Source: MOM's newsletter WORKING

Older workers in Singapore have reason to celebrate May Day today. The Ministry of Manpower (MOM) has implemented not one but several best practices to encourage companies to rehire older workers.

There is the ADVANTAGE! scheme that offers a grant of up to S$400,000 to companies that re-train and re-employ workers aged 62+. Next up is the Tripartite Alliance for Fair Employment Practices (TAFEP).

Two of TAFEP's publications

For a one-stop resource centre, there's the Re-employment Portal where employers and employees can look up more information on legislation, workshops, conferences, funding schemes and view video clips of companies that have successfully implemented age-friendly practices at the workplace.

In the week running up to May Day, print ads like the one above appear daily in the local papers. Such ads help to project a positive image of the older worker.

Legislation on re-employment of older workers will only come into effect in January 2012, but the long list of companies already signed on for early adoption of the policies is a clear indication that the millions spent on the campaign is bearing fruit.

For a print version of PM Lee Hsien Loong's May Day message, click here.

2 comments:

Pak Idrus said...

Life expectancy in Malaysia now is 78 for woman and 72 for man, so it is time that the authority review the retirement age as some folks especially the professional are valuable assets that could still contribute to the country.

A close friend of mine, age seventy plus like me is now managing a sprawling resort in Bali. So Malaysia should consider providing employment opportunity to those folks who still want to work, instead of having some 2 millions of foreign workers in our country.

Do have a nice day.

el-f said...

You are right. Retiring at 58 is ridiculous! Although the Malaysian govt has raised it from 55, it is still way below the retirement age of 62 in many countries.

Older folks who have to quit the work force at the mandatory retirement age of 58 still have at least another 10-20 economically productive years ahead of them. What a waste of their talents and skills!