Most seniors working past retirement did not suffer pay cut
I quote Leong Sze Hian from his article posted in the TRE.
‘I refer to the article “More in Singapore remaining in workforce past 65” (Straits Times, Mar 7).
98% who continued working beyond 62 did not suffer any basic wage cut
It states that “”Nearly all who approached 62 are offered re-employment.
“Most do not suffer any cut to their basic pay if they continue on the same job with the same job scope and responsibilities.”
In 2014, 98 per cent who continued working beyond the age of 62 did not suffer any basic wage cut, with about 10 per cent earning higher wages.”
Why are these seniors so lucky? I think many are working as cleaners, security guards, or like what Leong Sze Hian said, as operators or service/sales workers. These are jobs that many Singaporeans shunned and also paid very lowly. There is no way for the employers to lower the pay further and to think of being able to hire more of such workers. In fact many cleaners and security guards are getting raises instead of pay cuts.
So you see what the statistics are saying? What about the PMETs who ended up as self employed bosses driving taxis? Are they part of the statistics for employment? Also, read carefully, it is all about ‘re employment’ not new employment. A PMET joining the workforce as a security guard may not be called ‘re employment’. ‘Re employment’ means being reemployed in the same job. So if one is employed first time as a security guard, it is new employment, no count. But once employed as a security guard and reemployed as a security guard, like that can count.
This is just one possible explanation to make the statistics make sense. Please feel free to disagree with me.