There is no doubt that Singapore needs to prepare for a rapidly ageing population. By 2030, the number of seniors aged 65 years and above will almost double to over 900,000. A decreasing fertility rate further exacerbates this issue.
Are employers receptive to employing seniors who are above 55 years and above and retaining employees who are age above 62? Naturally, in a tight labour market situation, employers may not have a choice. HR practitioners may need to look at measures to mitigate the impact of the incoming influx of retirees and the need to offer re-employment to existing employees who reach 62 years of age.
Many HR practitioners are still struggling to draft out the Retirement and Re-employment policies and procedures to accommodate the extension of the re-employment age to 67 years of age. Re-employment contracts also pose a further challenge to some HR practitioners. Cost impact may creep in due to higher medical insurance and employment assistance payment, etc., but it may be mitigated by lower CPF contribution and grants from special employment credit. HR practitioners need to weigh out the cost versus benefit in their hiring and retention decision. Quantifying intangible cost and benefits is difficut. How do HR practioners strategise and deal with this phenomenon and yet comply with the Retirement and Re-employment Act?
- Introduction/Background on the new Retirement ad Re-employment Act (RRA)
- An important definition of RRA
- Coverage of employees under RRA
- Termination before Retirement
- Criteria for Re-employment, Health and Work Performance
- Readjustment at the age of 60
- Re-employment upon retirement
- Exemptions on re-employment
- Power to issue tripartite guidelines
- Salient points on tripartite guidelines
- Are HR Policies part of an employment contract?
- Considerations to take when formulating the re-employment policies.
- Re-employment policies are the same for unionised and non-unionised companies?
A competent HR practitioner must have the skills and knowledge in the following:
1. Background and Purpose of Retirement and Re-employment Act
- Tripartite guidelines on Re-employment
- Objective of re-employment legislation
- Retirement Age Act versus Retirement and Re-employment Act
2. Category of employees covered under RRA
- Locals, SPR, Foreigners.
- RRA (Exemption Notification)
3. Eligibility criteria for Re-employment
- Definition of poor performance.
- Definition of medically fit.
- Employee’s fault.
4. Re-employment practices
- Identifying eligible employees
- Re-employment planning and consultation
- Job arrangement for re-employment
5. Re-employment contract/policies
- Difference between policies and terms and conditions of employment.
- The offer of re-employment.
- Duration of re-employment.
- Adjustment to wages, medical and other benefits.
- Variation of the employment contract.
- Drafting re-employment contract.
- Drafting re-employment policies and procedures.
- Drafting a retirement letter.
6. Dismissal of employees before retirement
- Dismissal with notice/without notice
- Grounds for dismissal
7. Employment Assistant Programme
- Reference points for EAP
- Definition of gross salary
- Lacuna in EAP
Lecture and case study.
Who Should Attend
Human Resource Practitioners.
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