Plans unveiled to help older workers stay employed

Published Tue, Feb 18, 2020 · 09:50 PM

Singapore

A SLEW of measures were unveiled on Tuesday to give a boost to jobs for mid-career and older workers who find themselves left insecure by corporate restructuring and technological disruptions.

The measures run the gamut of expanded capacity for reskilling, incentives for hiring, credit top-ups as well as wage and Central Provident Fund (CPF) "transition" offsets to help older workers upgrade and to lighten employers' costs of keeping them working longer.

Deputy Prime Minister and Finance Minister Heng Swee Keat even set the target of doubling the annual job placement for Singaporeans in their 40s and 50s - the mid-career workers - to around 5,500 by 2025.

"We will introduce a new SkillsFuture Mid-Career Support Package for locals in their 40s and 50s, to help them stay employable and move to ne…