ST 21 Jan 2020

Singapore National Employers Federation (SNEF), the employers’ group hopes Budget will include wage offsets and funding to defray costs of hiring older workers

• Employers seek wage offsets in the form of Special Employment Credit (SEC) in response to the higher employment costs associated with increasing retirement age, re-employment age, and higher Central Provident Fund (CPF) contribution rates for older workers.
• This is SNEF’s budget wishlist following the report and proposals by the Tripartite Workgroup on Older Workers in August.