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Work as Long as you Can.....
The Straits Times
Jan 8, 2009
Work as long as you can
PM Lee urged older Singaporeans to stay active and contribute to workforce and community.
CONTINUE working for as along as you can.
This is the advice from Prime Minister Lee Hsien Loong to older and retired Singaporeans, who he said should stay active and engaged as they can still contribute much to the workforce and community.
But to support older workers, many social attitudes and institutional structures established when life expectancies were shorter and Singapore's population was younger will have to change, said Mr Lee, pointing out that by 2030, one-fifth of the population will be 65 years and older.
This is nearly one million people, three times the number today.
Mr Lee cited the wage structures and employment terms as examples which need to be updated.
Speaking at a conference on reinventing retirement on Thursday morning, PM Lee urged all parties to play their roles in changing outdated status quo.
'Employers prefer to hire younger workers who cost them less under a seniority-based wage system, making it harder for older workers to find and keep jobs,' he noted.
'This was reasonable when life expectancy was in the 60s, but it is not sustainable with expectancy around 80 today, and still going up.'
Urging employers to appreciate older workers, Mr Lee said they could be a valuable resource at the workplace, given their years of experience, wisdom and loyalty.
To the older workers, he said they must be prepared to work longer and be ready to adjust to different responsibilities, and possibly lighter work and less pay, which the PM said 'is understandably harder to accept.'
Family attitudes will have to change, too. For example, older women can work as room attendants but hotels have reported that these women tend to drop out from the training programmes, often under pressure from their children who are against their parents doing such chores.
Hotels have to hire foreign workers to fill these vacancies.
'This is a delicate matter of face and status,' said Mr Lee.
'The job of hotel attendant may be a humble one, but it is honourable employment, and if one can do it conscientiously and competently, there is no reason for the family to feel ashamed, or for society to look down on attendants or their families.'
'We should not discourage anyone from taking on such jobs. To do so would limit his options to be active, engaged and to earn an income.'
To encourage the older Singaporeans to continue working, he said the Government is updating the employment laws and structures.
But Mr Lee cautioned that 'we cannot solve the problem at the stroke of a pen by legislation.'
He said only six out of every 10 men are still working after 62, which is the official retirement age here. There are even fewer women who work till 62, most having dropped out earlier to raise their families.
'Simply raising the retirement age will not magically keep older workers employed longer,' said PM Lee.
'Hence in Singapore we have gone for a more flexible and practical approach, similar to what Japan has done. We are legislating not to further delay the retirement age, but to require employers to offer re-employment to workers at 62 for another three years until 65, though not necessarily in the same job or at the same pay.'
This change will be supported by other measures.
The Government has also made changes to the wage structures so that older workers would not be disadvantaged. For example, workers beyond age 50 pay lower CPF contribution rates, to lighten the cost of employing them, and mitigate the effect of seniority-based wages.
The Workfare Income Supplement is also weighted in favour of older workers, said the PM.
In his address, Mr Lee also touched on efforts to lure older women back to the workforce and activities to help senior citizens lead full and active lives, as well as various provisions to ensure the elderly are financially secure for their old age.
Jan 8, 2009
Work as long as you can
PM Lee urged older Singaporeans to stay active and contribute to workforce and community.
CONTINUE working for as along as you can.
This is the advice from Prime Minister Lee Hsien Loong to older and retired Singaporeans, who he said should stay active and engaged as they can still contribute much to the workforce and community.
But to support older workers, many social attitudes and institutional structures established when life expectancies were shorter and Singapore's population was younger will have to change, said Mr Lee, pointing out that by 2030, one-fifth of the population will be 65 years and older.
This is nearly one million people, three times the number today.
Mr Lee cited the wage structures and employment terms as examples which need to be updated.
Speaking at a conference on reinventing retirement on Thursday morning, PM Lee urged all parties to play their roles in changing outdated status quo.
'Employers prefer to hire younger workers who cost them less under a seniority-based wage system, making it harder for older workers to find and keep jobs,' he noted.
'This was reasonable when life expectancy was in the 60s, but it is not sustainable with expectancy around 80 today, and still going up.'
Urging employers to appreciate older workers, Mr Lee said they could be a valuable resource at the workplace, given their years of experience, wisdom and loyalty.
To the older workers, he said they must be prepared to work longer and be ready to adjust to different responsibilities, and possibly lighter work and less pay, which the PM said 'is understandably harder to accept.'
Family attitudes will have to change, too. For example, older women can work as room attendants but hotels have reported that these women tend to drop out from the training programmes, often under pressure from their children who are against their parents doing such chores.
Hotels have to hire foreign workers to fill these vacancies.
'This is a delicate matter of face and status,' said Mr Lee.
'The job of hotel attendant may be a humble one, but it is honourable employment, and if one can do it conscientiously and competently, there is no reason for the family to feel ashamed, or for society to look down on attendants or their families.'
'We should not discourage anyone from taking on such jobs. To do so would limit his options to be active, engaged and to earn an income.'
To encourage the older Singaporeans to continue working, he said the Government is updating the employment laws and structures.
But Mr Lee cautioned that 'we cannot solve the problem at the stroke of a pen by legislation.'
He said only six out of every 10 men are still working after 62, which is the official retirement age here. There are even fewer women who work till 62, most having dropped out earlier to raise their families.
'Simply raising the retirement age will not magically keep older workers employed longer,' said PM Lee.
'Hence in Singapore we have gone for a more flexible and practical approach, similar to what Japan has done. We are legislating not to further delay the retirement age, but to require employers to offer re-employment to workers at 62 for another three years until 65, though not necessarily in the same job or at the same pay.'
This change will be supported by other measures.
The Government has also made changes to the wage structures so that older workers would not be disadvantaged. For example, workers beyond age 50 pay lower CPF contribution rates, to lighten the cost of employing them, and mitigate the effect of seniority-based wages.
The Workfare Income Supplement is also weighted in favour of older workers, said the PM.
In his address, Mr Lee also touched on efforts to lure older women back to the workforce and activities to help senior citizens lead full and active lives, as well as various provisions to ensure the elderly are financially secure for their old age.
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