Shaping Ideal Careers And Jobs In Singapore

Nearly all local employees retiring in 2011 were offered employment beyond 62 [Infographic]

According to a survey by the Ministry of Manpower:

  • 79% of private establishments implemented measures to allow local employees to work beyond 62 in 2011. These establishments employ 88% of the local employees in the private sector.
  • 57% allowed employees to continue working on existing contracts and 22% offered re-employment.
  • 89% of private establishments offering re-employment indicated 12 months as the minimum duration of the contracts. Almost all (95%) reported that the re-employment contracts were renewable up till the age of 65, as long as the employee continued to meet the medical fitness and work performance requirements.
  • More private establishments offering re-employment had a policy of engaging their retiring employees in re-employment consultation in 2011 (75%) than the year before (61%).
  • Nearly all (97% or 11,100) local employees retiring in 2011 were offered employment beyond 62. 92% accepted the offer. 64% continued working on their existing contracts and 28% were re-employed under a new contract, mostly with no change in their job scope.

Written By: Amit Puri - Managing Consultant, Sandbox Advisors

Amit is an experienced career, business and HR professional. Previously, he has worked with organisations such as Bain & Company, Morgan Stanley and Citigroup. Amit has advanced degrees/qualifications in Career Counselling, Organisational Psychology & HR, Occupational Psychometrics, Career/Life Coaching & Business.