Added on: 8/16/2012 8:47:00 AM
Mature employees looking to keep workingMost people retiring in 2011 were given an option to be employed beyond 62. A lot of companies in the private sector have implemented measures which allows workers beyond the age of 62 to keep working. About half of these companies allowed workers to continue working on the existing contracts whereas some companies (22 percent) actually offered re-employment. 28 percent of the retiring population were re-employed under a new contract and most people had no changes in their job scopes. According to the survey conducted by the Minsistry of Manpower, the re-employment figure was slightly higher than that of last year. Most of the re-employment contracts were renewable upto the age of 65 provided the employees continue to meet the medical fitness levels and work performance levels required. The survey also revealed that larger companies were more likely to offer re-employment contracts compared to smaller ones and that most companies required 12 months as the minimum duration of the re-employment contracts.
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