Aging Singapore: City-state helps firms retain workers past retirement age
SINGAPORE (Jan 18): Mohsin Khan is still at his job repairing aircraft hydraulics parts although the Singaporean turns 75 in a couple of months.
“Governments need to look after the needs of their aging population, and enable older workers to work longer and stay productive,” Singapore’s Finance Minister Heng Swee Keat said this week.
More than 650 companies in Singapore have made use of the up to S$300,000 ($221,174) job redesign grant since 2016. Other schemes include wage offsets to employers of older workers and a grant to adopt progressive age management practices.