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Patrick Tay on Retirement and Re-employment (Amendment) Bill and Central Provident Fund (Amendment) Bill

The important work to enable older employees to continue working must continue, said MP Patrick Tay. Speaking in Parliament on Monday (Nov 1), he expressed concern that more companies are not re-employing existing older workers in view of the uneven and uncertain outlook. He said some companies have resorted to making payouts under the Employment Assistance Payment (EAP) as an easy and cost-efficient way to circumvent re-employment obligations. He said the EAP should not be used as an "easy way out" to avoid re-employing older workers. Instead, it should only be offered after a thorough review and as a last resort. Mr Tay called for a review of the EAP payable. A sizeable increase in the minimum and maximum EAP payable may deter companies from cursorily reviewing internal vacancies to let go of mature workers, incentivise companies to find suitable internal vacancies for older workers and help workers tide through a longer period of unemployment, he said. 

Patrick Tay on Retirement and Re-employment (Amendment) Bill and Central Provident Fund (Amendment) Bill

01 Nov 2021 03:33pm

The important work to enable older employees to continue working must continue, said MP Patrick Tay. Speaking in Parliament on Monday (Nov 1), he expressed concern that more companies are not re-employing existing older workers in view of the uneven and uncertain outlook. He said some companies have resorted to making payouts under the Employment Assistance Payment (EAP) as an easy and cost-efficient way to circumvent re-employment obligations. He said the EAP should not be used as an "easy way out" to avoid re-employing older workers. Instead, it should only be offered after a thorough review and as a last resort. Mr Tay called for a review of the EAP payable. A sizeable increase in the minimum and maximum EAP payable may deter companies from cursorily reviewing internal vacancies to let go of mature workers, incentivise companies to find suitable internal vacancies for older workers and help workers tide through a longer period of unemployment, he said. 

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