Changes hurt but early notice helps: business response
ASME, SBF leaders also welcome govt move to raise the statutory retirement and re-employment age as well as to hike CPF contributions for older workers in a gradual manner
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Singapore
WHILE business costs will go up with the move to raise the statutory retirement and re-employment age as well as to increase Central Provident Fund (CPF) contributions for older workers, many companies in Singapore are thankful for the early notice and gradual implementation of the changes.
"The government has already given the signal in recent years to increase the retirement and re-employment age, so most businesses have expected and are set on it," said Kurt Wee, president of the Association of Small and Medium Enterprises (ASME).
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