|The Sunday Times editorial 17 July|
While this may be welcome news to many employees who are about to retire, the new terms of re-employment might not be in their favour. Some companies which have started early implementation of the new policy have cut salaries of rehired older workers by as much as 30%, reduced medical benefits, and in some cases, taken away bonuses.
|Source: The Straits Times 9 July|
It's sad really. One day you are drawing a salary of X dollars. The very next day your value to the company depreciates for no reason other than you've just hit 62. If you continue to do the same work, it's only fair that you continue to receive the same pay. Anything less is clearly a case of discrimination against older workers.
|Ministry of Manpower's Portal for Re-employment of Older Workers, Singapore.|