From 1 July 2022, employers must offer re-employment to eligible employees who turn 63, up to the age of 68. Find out if you are eligible, guidelines on re-employment and what to do if there is a dispute. Show
In accordance with the Retirement and Re-employment Act (RRA), the minimum retirement age is 63 years. Employers are not allowed to dismiss any employee based on an employee’s age. Employers must offer re-employment to eligible employees who turn 63, up to age 68, to continue their employment in the organisation. The re-employment age was raised from 67 to 68 on 1 July 2022 to help older workers who wish to continue working as long as you are willing and able. The new retirement and re-employment ages apply as follows: AgeRetirement ageRe-employment ageBorn before 1 July 1955(>67 years old on 1 July 2022)6267Born between 1 July 1955 and 30 June 1960 (between 62-67 years old on 1 July 2022)6268Born after 1 July 1960 (<62 years old on 1 July 2022)6368 EligibilityYou are eligible for re-employment if you:
If you are eligible for re-employment but your employer is unable to offer you a position, then your employer must:
ContractYour re-employment contract should be for at least 1 year, renewable every year up to age 68. The first initial contract of re-employment should start on the same day you turn 63 years. If you turn 63 on 1 August 2022, your re-employment contract’s initial start date should be 1 August 2022. Salary and benefitsYour salary may be adjusted based on reasonable factors such as new duties or responsibilities. You should negotiate these changes with your employer when you finalise your new contract. A good reference is the Tripartite Guidelines on Re-employment of Older Employees. Negotiating a re-employment contractKeep the following in mind when negotiating the terms of a re-employment contract. For employers
Re-employment by another employerIf your employer is unable to re-employ you, your employer can transfer re-employment obligations to another employer upon meeting these two conditions:
You are not obliged to accept a re-employment offer by the new employer, and will be entitled to an Employment Assistance Payment (EAP) from your present employer should you choose to turn down the offer. You can take a look at this sample consent form for re-employment by another employer. Employment Assistance Payment (EAP)If your employer has considered all available re-employment options within the organisation and is still unable to identify a suitable job for you, the company may offer you an Employment Assistance Payment (EAP). The EAP is:
Note:
Revised tripartite guidelinesFollowing the release of the tripartite workgroup’s report on strengthening support for older workers, the tripartite partners have revised the Tripartite Guidelines on Re-employment of Older Employees to reflect the workgroup’s recommendations. These are the key changes to the revised guidelines: Part-time re-employmentShowAs an employer, you should adhere to prevailing principles on changes to wages, medical and other benefits for your employees who are re-employed on a part-time basis. For re-employment of your part-time employees, the maximum and minimum EAP amounts could be pro-rated based on the number of hours worked per week, relative to a full-time employee. Higher internal retirement and re-employment ages than statutory requirementsShowAs an employer, you are encouraged to raise your internal retirement and re-employment ages above the statutory requirements. You can tap on the Senior Worker Early Adopter Grant and Part-time Re-employment Grant to do so. These ages should be clearly documented in your relevant employment documents. You should also include avenues where your employees can seek help from if there are disputes. See some sample clauses for the employment documents. Structured career planningShowAs an employer, you are encouraged to adopt a forward-looking approach in guiding your employees on career development, including the adoption of structured career planning for employees aged 45 years old and above. The Structured Career Planning Guidebook developed by the Singapore National Employers Federation provides resources to guide you in conducting regular career conversations with your employees. You will benefit through a deeper understanding of your employees’ future plans, and areas for development. They can build confidence in planning their careers, enhancing their skills and preparing for career changes, re-employment and eventual retirement. Job redesignShowAs an employer, you should facilitate the re-employment of older workers by building more age-friendly workplaces. You are encouraged to use job redesign to make organisation-wide and system-levels changes. This will increase the number of older workers who can perform the job, and increase the age at which your workers can do a job. Medical benefitsShowAs an employer, you should restructure existing medical benefits, and provide additional MediSave contributions or other flexible benefits. These can be used to pay for your employee’s MediShield Life or Integrated Shield Plan premiums (if applicable). This helps you manage healthcare costs by providing stability and predictability, and builds up Medisave Accounts and accrue medical benefits post-employment for your employees. DisputesYou should work together with your employer (or union, if applicable) to resolve any differences amicably. You can also approach the Commissioner for Labour (COL) or Tripartite Alliance for Dispute Management (TADM) for help in the following situations: Not offered re-employmentShowSituationYou are not offered re-employment and you dispute your employer’s reasons for it. This could include not meeting the re-employment eligibility criteria, no suitable job vacancy, or dismissal during re-employment. When to approachWithin 1 month after the last day of employment. How to approachYou can notify the Commissioner for Labour online. Unreasonable terms and conditions or EAP amountShowSituationYou feel that the terms and conditions of the re-employment offer or the EAP amount offered is unreasonable. When to approachWithin 6 months after the last day of employment. Who to approachYou can approach TADM for advice and options to help you manage the dispute. Include details of your dispute including supporting documents, names, contacts, position held, job description, length of service and re-employment terms offered to you. What is my full retirement age if I was born in 1955?If you were born between 1955 your full retirement age is 66 and 2 months (En español) You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
What is the best age to draw Social Security?From a Social Security standpoint, you can start getting lower benefits as early as age 62, or you can delay retirement up to age 70 for your maximum monthly benefit amount. At age 62, your benefit amount is about 25 percent lower than your full benefit at age 66.
How much does Social Security increase each year after 66?You'll get an extra 2/3 of 1% for each month you delay after your birthday month, adding up to 8% for each full year you wait until age 70. The clock starts ticking the month you reach full retirement age. For example, if you were born on April 24, you'd reach your full retirement age on April 1.
What is the maximum Social Security benefit at age 67?The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2023, your maximum benefit would be $3,627. However, if you retire at age 62 in 2023, your maximum benefit would be $2,572.
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