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11/17/2009

A mini golden handshake for retired workers

CBF worker or CBF economy? I thought it was meant to be CBF workers, but the ST quoted Lim Swee Say this, 'He pointed to the labour movement's current focus on building a more inclusive workforce with a CBF(cheaper, better and faster) economy. But this really make sense with the mini golden handshake that is being introduced in a bill to pay an Employment Assistance Payment to retired workers that are not rehired. The new law will expect an employer to offer continued employment to workers on turning 62 and later up to 67 years of age. If the employer is unable to offer an alternative employment he would have to pay an EAP to help the worker tie over the period when he has to look for another job. This is something that only a tripartite formula of ours could work. Good for the workers.

4 comments:

Anonymous said...

Only up to 67 years? I was hoping they would do that like the Government, up to, what 86 years and counting.

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