By 2030, 900,000 citizens will be 65 years and older.
The re-employment age will be rising soon. To help workers understand and be ready, the NTUC’s U Live has launched a guidebook for companies titled “Understanding Re-employment”. ‘The book is available to all union leaders and unionised companies’ HR practitioners.
U Live is NTUC’s platform for mature members aged 55 and above. It aims to prepare them for their golden years.
With the distribution of the book, U Live hopes to help union leaders, employees and workers better understand the revised tripartite guidelines on the re-employment of older employees and adopt them earlier.
Beyond raising the re-employment age, tripartite partners put forward the importance of changing the nature of jobs and the working environment for older workers. This could be achieved by implementing good age management practices and redesigning job processes at the workplace.
The Labour movement aims to encourage more companies, especially unionised companies, to adopt the guidelines. Other initiatives include WorkPro, where companies can apply for grants aimed at encouraging them to redesign jobs and retain older workers.
According to NTUC, 1016 unionised companies surveyed by U Live are re-employing beyond the age of 65, while 183 companies have at least a re-employment policy to hire up to the age of 67.
This is a significant increase from a year ago, where the number of unionised companies re-employing beyond the age of 65 was at 585.
Deputy Secretary-general of NTUC Heng Chee How said: “The re-employment ceiling will go up from 65 to 67 from July next year. We are therefore in the stage of working with companies to get ready.
“Most unionised companies are already taking steps to do this early and do it right. To help all employers to do this early and do this right, NTUC has produced this handbook,” Mr Heng added.