Extension of 3% wage offset till new re-employment age of 67 takes effect
The Government is committed to providing more opportunities for older Singaporean workers who wish to continue working as long as they are healthy.
At Budget 2015, the Government introduced an additional wage offset of up to 3% of wages for 2015 to encourage employers to voluntarily re-employ Singaporeans aged 65 and above, earning up to $4,000 a month.
As Singapore moves towards raising the re-employment age to 67 by 2017, the Government has decided to extend the wage subsidy until the new re-employment age of 67 comes into effect.
The WorkPro Programme by the Ministry of Manpower and Workforce Development Agency, which was launched in April 2013 and runs till 1Q 2016, is also being reviewed. The Programme serves to foster progressive workplaces and support the employment of older workers and back-to-work locals.
More information is available at: http://www.mom.gov.sg/newsroom/press-releases/2015/1201-extension-of-3-percent-wage-offset-till-new-re-employment-age-of-67-takes-effect