Improving re-employment opportunities for older workers
Retirement and Re-employment (Amendment) Bill 2016 and Revised Tripartite Guidelines on the Re-employment of Older Employees
The Retirement and Re-employment (Amendment) Bill 2016 was passed by Parliament on 9 January 2017.
In April 2016, MOM announced that following extensive tripartite consultations, the tripartite partners had agreed for the following to take effect from 1 July 2017:
– raise the re-employment age from 65 to 67;
– introduce an option to allow eligible employees to be re-employed by another employer to increase labour market flexibility; and
– remove option of employers cutting employees’ wages at age 60.
The Retirement and Re-employment (Amendment) Bill 2016 amends the Retirement and Re-employment Act (RRA) to effect the above changes from 1 July 2017.
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