Possible? 97% of retires re-employed

[Cheepo]

Almost all recent retirees re-employed: Tan Chuan-Jin

 

66 per cent of them were allowed to continue working on their existing contracts. -AsiaOne

 

Mon, Feb 04, 2013

AsiaOne

 

Nearly all, or 97 per cent, of some 11,500 retirees in 2011 were offered employment beyond the age of 62.

 

66 per cent of them were allowed to continue working on their existing contracts and 31 per cent were offered re-employment under a new contract. Of those who accepted re-employment in the same job, 17 per cent had their wages adjusted downwards, with a median wage cut of 12 per cent.

 

Acting Minister for Manpower Tan Chuan-Jin was answering WP's Chen Show Mao on how many Singaporeans and permanent residents were covered by the Retirement and Re-employment Act in 2012.

 

In a written reply, Mr Tan stated that statistics on the re-employment situation in 2012 will only be available in March 2013 but the results of a previous ad-hoc survey showed that most employers were prepared for employment even before the Act came into effect on Jan 1, 2012.

 

As for re-employment disputes, the Ministry of Manpower (MOM) received 32 cases in 2012, mainly over eligibility for re-employment or dissatisfaction over the re-employment terms offered.

 

In most of these cases, the employers and employees have reached a successful settlement, wrote Mr Tan, who also stated "on the whole, the results in implementing the re-employment law have been positive."

 

Employment rate of older residents aged 55 to 64 rose from 61.2 per cent in 2011 to 64 per cent in 2012, and the number of re-employment disputes lodged with MOM has been low.

 

Mr Tan attributed this to the tight labour market situation and the efforts of the tripartite partners in promoting re-employment.

 

[email protected]

Edited February 4, 2013 by Cheepo

[LoverofCar]

so what this means? you work till your dying day....period...

 

[Kyrios]

Re-employed as table wipers and security guards? Or taxi drivers?

[Alim]

Phantom Workers?

 

Could be one of the reasons why our unemployment rate is low.

[Ahwhye]

I suspect for most of these people, it is not that they want to be re-employ, but they have to ....

 

but then again, i never understand why the need to "re-employ" if they are doing basically the same thing .....

[Jasonjst]

Phantom Workers?

 

Could be one of the reasons why our unemployment rate is low.

 

One major reason not to have minium wage is to let the "Phantom Worker" loophole remain . Otherwise those SMCs how to justify for more FTs .

[Ahwhye]

so what this means? you work till your dying day....period...

 

then? why do u think they always push back the CPF withdrawal thingies ... the longer u work, the more gdp u generate, the longer they can hold onto your cpf ...... understand??

[Alim]

One major reason not to have minium wage is to let the "Phantom Worker" loophole remain . Otherwise those SMCs how to justify for more FTs .

 

With tightened foreign worker quota, I am not surprise more of such workers.

 

Aunty Lucy already complaining liao.

[Tiger1]

You mean you still BELIEVE this buxxshxt?

 

The numbers are their to pluck n say. Add in some selected choice of words, vola....koyok. Same s--t, same joker, same show! We are screw part 3.

[Watwheels]

One major reason not to have minium wage is to let the "Phantom Worker" loophole remain . Otherwise those SMCs how to justify for more FTs .

Aiyo. I still think minimum wage will cause more harm dan good especially to small businesses. Although ppl get paid better but it might be offset by inflation due to higher labour cost.

 

But anyway I highly doubt gahment's stats and numbers. Especially the quality of the numbers.

Edited February 4, 2013 by Watwheels

[Bensonscu]

You mean you still BELIEVE this buxxshxt?

 

The numbers are their to pluck n say. Add in some selected choice of words, vola....koyok. Same s--t, same joker, same show! We are screw part 3.

 

100% agreed with you.