Senior Worker Early Adopter Grant
13/11/2021
Companies can receive a maximum grant support of $5,000 per senior worker if they:
- raise their internal retirement age and re-employment age to 65 and 70respectively;
- commit to providing part-time re-employment opportunities to eligible workers upon their request; and
- adopt the Tripartite Standard on Age-friendly Workplace Practices.
Companies will be required to make changes to company HR policies and employment contracts, and communicate them to employees.
If internal retirement and re-employment ages are raised by 3 or more years compared to the statutory ages, $2,500 per eligible senior worker (≥60 years) will be provided.
(Capped at 50 senior workers per company. Total eligible funding of $125,000 per company.)
More details can be found on MOM website.
Feel free to contact us if you are needing HR and financial consultancy at +65 66363691, +65 9326 2271 or info@lnmsolutions.com!
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