Employment Issues Relating to Aged Workers in Singapore

The current law that affects aged workers is engraved in the retirement age act which was enacted after Labour Force Survey by the Ministry in 1988, whereby the government decided to increase the age of retirement to the age of 60, which was later raised to 62 under the Retirement Act in 1999. The new law which will definitely affect those working above the age of 62 had the age raised to 65 by the year 2010. This new law was passed by parliament and it makes it a must for the organization to employ again workers beyond the retirement age of 62. According to the law, there will be flexibility. When the retired workers are employed again, the work give should not be necessarily the same job he/she was doing. The workers will be given a chance to stay in their old jobs if their health is okay and their performances are satisfactory. In regard to this law, the organization should talk to the workers 6 months before the age of 62 if they want to be re-employed. If the employer is not in a position of offering a job again to the retiring worker, a one-time employment assistance payment will be given to the worker to assist him for a period of 3 months as he/she tries to find another job. This payment will not be over $10,000. If there is a disagreement between the worker and the employer, the worker will turn to the Ministry of Manpower. The employers who break these rules are given a fined or jailed. The main intention of this new law is to give older workers who still want to work a right to continue working.
The Singapore Government has established and continually supported various programs in relation to Labour policies implementation and management as concerns the elderly workforce in the economy. According to the Singapore Census of Population 2000, older Singaporeans (aged 65 and above) made up approximately 7.3% of the population in 1999. That segment is projected to grow to 19% of the total population by 2030.