MOST bosses believe in keeping their workers beyond the retirement age of 62, but there is still some way to go in getting more to rehire their retirees.
Nearly two-thirds of private sector companies allow their workers to stay on after 62, but the rest do not have any re-employment measures in place, a new Government survey has shown.
The most commonly cited reason for not doing so is: None of their workers have reached the age of 62. But a sizable number of employers have also not thought about this issue, or do not see any need for such a measure.
These findings emerged in a retirement and re-employment practices report which was released by the Manpower Ministry. The ministry polled 3,200 private sector companies which employ over 800,000 workers.
The survey, conducted between last October and December, provides a good gauge of how companies view the issue of re-employment ahead of the legislation that will be put in place in 2012. It will compel companies to offer to rehire their workers beyond 62.
Commenting on the findings, Manpower Minister Gan Kim Yong said: 'We are quite encouraged by the progress of our efforts to improve the employment of older workers... but we must not become complacent.'
- The Straits Times
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