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Nov 22, 2009
Older staff face no rehiring hurdles for famiLEE
Despite new guidelines, a change in mindset towards rehiring workers beyond age 62 will take time
By Shefali Rekhi
BUSINESS development manager Chandran Suppiah is used to a fast-paced life that sees him zipping in and out of countries to clinch deals.
He is 61, but retirement, which is technically due next year, is not on his mind.
'I feel 50. I'm in a business where relationships are important and I've built them over decades,' said Mr Chandran of his contacts in the region and the value he can bring to his employer - American firm 3M Unitek. 'Besides, working gives me a sense of purpose, some stress... that will be good for me.'
Like him, there are many others in their 60s and 70s who want to stay on the payroll.
Given the financial security it brings and the feel-good factor that comes with coping with challenges at work, they want to continue even if the opportunities may not be stacked in their favour.
Singapore data shows that the current employment rate for those in the 55-64 age category is 57 per cent. But prospects for older workers got a strong boost last week when the Manpower Ministry released draft guidelines for companies to offer re-employment for those nearing 62.
To be legislated in three years, the guidelines make it easier for companies to offer contracts of between one and three years.
Home > Breaking News > Singapore > Story
Nov 22, 2009
Older staff face no rehiring hurdles for famiLEE
Despite new guidelines, a change in mindset towards rehiring workers beyond age 62 will take time
By Shefali Rekhi
BUSINESS development manager Chandran Suppiah is used to a fast-paced life that sees him zipping in and out of countries to clinch deals.
He is 61, but retirement, which is technically due next year, is not on his mind.
'I feel 50. I'm in a business where relationships are important and I've built them over decades,' said Mr Chandran of his contacts in the region and the value he can bring to his employer - American firm 3M Unitek. 'Besides, working gives me a sense of purpose, some stress... that will be good for me.'
Like him, there are many others in their 60s and 70s who want to stay on the payroll.
Given the financial security it brings and the feel-good factor that comes with coping with challenges at work, they want to continue even if the opportunities may not be stacked in their favour.
Singapore data shows that the current employment rate for those in the 55-64 age category is 57 per cent. But prospects for older workers got a strong boost last week when the Manpower Ministry released draft guidelines for companies to offer re-employment for those nearing 62.
To be legislated in three years, the guidelines make it easier for companies to offer contracts of between one and three years.
