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Retirement and Re-employment Act (RRA) (Tripartite guidelines (The re…
Retirement and Re-employment Act (RRA)
Retirement under RRA Act
minimum age is 62
RRA act protection for Singapore citizens or PR
Protection for those who joined employer before age 55
Re-employment
offer re-employment up to age 67
Eligibility
served employer at least 3 years before 62
Is a Singapore citizen or PR
Have satisfactory work performance
medically fit to continue working
born on or after 1 July 1952
Incentives
Special Employment Credit (SEC)
For employers who voluntarily re-employ workers aged 55
Employers receive additional wage offset on an employee’s monthly wages
help employers manage overall costs and encourage them to voluntarily re-employ older workers
Employment Assistance Payment (EAP)
Offered as a last resort
Help employees seek alternative employment
one-off payment equivalent to 3 months’ salary. (min $4500, max $10000)
Tripartite guidelines
Planning and preparing employees for re-employment
Identify eligible employees for re-employment
Re-employment planning and consultation
Job arrangements for re-employment
The re-employment contract
Wages and medical and other benefits
Termination with notice
Duration of re-employment
Offer of re-employment
Recognising the contributions of re-employed employees
Assistance for eligible employees whom employers cannot re-employ
Steps to do re-employment contract
Offer of re-employment
Decide duration of re-employment
Assessment of employee’s eligibility for re-employment
Adjustments to wages and benefits
Consequences if fail to abide
fine <$5000 or imprisonment<6 months or both
Subsequent offence: fine< $1000 or imprisonment <12 months or both
Workpro and Enhanced Workpro
Age Management Grant
Up to $20,000 funding
Implement age management practices
Job Redesign Grant
Up to $300,000 funding
create easier, safer and smarter jobs for older workers aged 50 years and above.
Work- Life Grant
Up to $160,000 funding
Implement and sustain work-life strategies