Home News Featured News NMP and NTUC CEC member asks Govt to raise retirement age and...

NMP and NTUC CEC member asks Govt to raise retirement age and re-employment age

Arasu Duraisamy said "Many of the older workers have told us they are not ready to retire for good"

Author

Date

Category

- Advertisement -

Nominated Member of Parliament (NMP) Mr Arasu Duraisamy has asked the Government to raise both the retirement age and the re-employment age because he feels the best support the Government can give an elderly worker is “ensuring they have a good job.”

50-year-old Mr Arasu is a veteran union leader who was selected by the National Trades Union Congress (NTUC) to represent the interest of workers as a Labour NMP, in Sept 2018.

He is currently an NTUC Central Committee member and General Secretary of the Singapore Port Workers’ Union.

Speaking in Parliament on Tuesday (26 Feb), Mr Arasu recounted that many elderly Singaporean workers have told him that they are not ready to retire.

- Advertisement -

He said that some of these elderly workers need to work to support their families while others need to save for healthcare or retirement.

Others prefer to be gainfully employed since they are healthy and physically able.

Calling on the Government to raise the retirement age from 62 to 65 and increase the re-employment age from 67 to 70, Mr Arasu said:

“The extension of the retirement age and re-employment age provides certainty to workers who want to continue working, and allows a longer runway for employers to plan for training and upskilling, as well as adapt to digital transformation holistically.”

Mr Arasu’s statement that the best support the Government can give an elderly worker is “ensuring they have a good job,” echoes Finance Minister Heng Swee Keat’s statement that the Government is “helping older Singaporeans stay in the workforce, so that they can earn and save more for retirement,” during his budget speech.

Asserting that some older Singaporeans “wish to continue working,” Heng had said:

“With increasing lifespans, we are also helping older Singaporeans stay in the workforce, so that they can earn and save more for retirement…We are doing more to help older Singaporeans earn more, save more, and have greater peace of mind during their retirement years.”

Heng said that he is “happy that companies have responded by hiring older workers, tapping on their experiences, and supporting them in upgrading their skills.” He added:

“With a tighter labour market, and more Singaporeans choosing to work longer, more companies will be hiring older workers. The Government will study better forms of support to continue to help workers to remain productive, earn more, and save more for retirement.”

He further characterised welfare schemes to help Singaporeans as forces that weaken people’s sense of agency and independence”:

“We are improving the lives of our people, by enabling them to be the best that they can be. We enhance our people’s sense of well-being and dignity, without the burden of welfare schemes elsewhere, which weaken people’s sense of agency and independence.

Heng’s comment that seniors choose to work longer mirrors Manpower Minister Josephine Teo’s remarks last month that the Payout Eligibility Age for CPF will not be lowered because employees seem to prefer to work longer and save more than take out their CPF earlier.

https://theindependent.sg.sg/we-are-helping-older-singaporeans-stay-in-the-workforce-so-that-they-can-earn-and-save-more-for-retirement-heng-swee-keat/

Send in your scoop to news@theindependent.sg 

- Advertisement -

Man attacks teen, calls him a virus, damages his phone

Singapore—A sudden attack took a teen by surprise when one man started yelling at him, physically harming him, and throwing his phone into a nearby drain at around 10.30pm on Tuesday (Feb 23) on a section of the road near the...

3 migrant workers die after 10 injured in Tuas industrial building blast

Singapore – Three of the 10 workers injured in an explosion at an industrial building in Tuas on Wednesday (Feb 24) died on Thursday. The Singapore Civil Defence Force (SCDF) responded to a fire at No. 32E Tuas Avenue 11 at around...

Film producer says Myanmar maid called her family, wanting to go home, two weeks before she died

A video producer who visited the family of Piang Ngaih Don, the Myanmar maid beaten and starved to death by her employers in 2016, says Ms Piang somehow managed to call her family just two weeks before she died. She told...

Send in your scoop to news@theindependent.sg 

Theindependent