Unions, employers and Govt agree to work on extending re-employment age
Senior Minister of State in the Prime Minister's Office, Heng Chee How, says the tripartite partners (unions, employers and the Government) have agreed to work on extending the re-employment age of workers by another two years to 67.
Speaking during debate on the Budget, Mr Lim, who's also the deputy secretary general of the Labour Movement, said this will help seniors earn income for two more years, boosting their retirement savings.
He said the re-employment age ceiling need not and cannot stagnate at 65 given that life expectancy continues to rise.
Mr Heng says there are two additional areas where attention must be paid.
The first is accord the post-Pioneer generation and employers with greater clarity over long term CPF savings rates.
The second area is helping seniors in areas beyond healthcare expenditure.
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