In a proactive move toward fostering an age-inclusive workforce, the National Trades Union Congress (NTUC) has announced a landmark change: effective January 1, 2025, the retirement age for its employees will rise to 64, while the re-employment age will be raised to 69. This step comes 1.5 years ahead of the national schedule, showcasing NTUC’s dedication to supporting older employees and creating a more inclusive workforce.
What Does the Change Mean?
Retirement and Re-Employment Age Adjustments
- Current Retirement Age: 63 (since 2022).
- New Retirement Age: 64, starting January 2025.
- Re-Employment Age: Increased from 68 to 69 simultaneously.
These changes align with Singapore’s long-term plan to raise the retirement age to 65 and the re-employment age to 70 by 2030.
NTUC’s Commitment to Older Workers
NTUC is ahead of the curve for the second time since 2019. It previously raised the retirement and re-employment ages in 2021, also ahead of the national timeline.
“By raising these age limits early, NTUC reinforces its belief in the value older employees bring to the workforce,” said NTUC Secretary-General Ng Chee Meng.
Who Benefits from the Change?
Out of NTUC’s 20,000-strong workforce, the new changes will directly benefit:
- 448 employees: Eligible for the earlier retirement age adjustment.
- 270 employees: Eligible for the earlier re-employment age increase.
This move extends across NTUC’s entities, including:
- FairPrice Group
- Income Insurance
- NTUC First Campus
- Kopitiam
- NTUC LearningHub
Support for Older Workers
Tailored Employment Benefits
NTUC ensures that re-employed workers:
- Maintain consistent salaries and benefits unless job scopes change by mutual agreement.
- Access tailored learning and development programs to stay relevant in evolving industries.
Flexible Work Arrangements and Job Redesign
To support older workers, NTUC offers:
- Flexible work arrangements for better work-life balance.
- Job redesign to leverage their expertise while accommodating their needs.
Welfare and Health Support
Older workers also benefit from:
- Health screenings
- Retirement planning resources
Why NTUC’s Move Matters
Building an Inclusive Workforce
Singapore’s aging population demands inclusive policies. NTUC is setting a benchmark by valuing older employees’ experience, dedication, and resilience, contributing to both organizational growth and national economic stability.
Encouraging Proactive Workforce Development
By engaging employees approaching retirement early, NTUC offers targeted training opportunities to keep their skillsets competitive. This approach aligns with national goals to keep Singapore’s workforce adaptable and relevant.
What Employees Are Saying
NTUC’s move has been welcomed by its employees:
- Ms. Sarminah Tamsir (62), a manager in NTUC’s strategy department, expressed enthusiasm about her redesigned job role. “This milestone marks a new chapter in my journey with the labor movement.”
- Mr. Lee Teck Yeow (63), an outlet executive at Kopitiam, said, “It’s encouraging to know I can continue to be a valuable part of my team.”
The Bigger Picture
Singapore’s National Goals
The government plans to progressively increase the retirement age to 65 and re-employment age to 70 by 2030. NTUC’s early adoption signals its dedication to these national objectives.
A Model for Other Organizations
By taking the lead, NTUC sets an example for other employers, emphasizing that older workers are assets, not liabilities.
Conclusion
NTUC’s decision to raise the retirement and re-employment ages ahead of the national timeline demonstrates its unwavering commitment to creating an inclusive workforce. By championing the interests of older employees, NTUC is not only enhancing its workplace culture but also contributing to Singapore’s economic resilience.
📅 Key Date to Remember:
- New Retirement and Re-Employment Ages: Effective January 1, 2025.
For a future where age is no barrier to meaningful employment, NTUC is paving the way.
