On 23 August 2015, Prime Minister Lee Hsien Loong delivered the National Day Rally (NDR) Speech. Two policy changes which are relevant to employers and individuals have been extracted from the speech.
Changes in the Re-Employment age
- The re-employment age will be raised from 65 to 67;
- This will be legislated by 2017;
- Currently, firms are required by the Retirement and Re-employment Act to offer re-employment to eligible workers when they turn 62, up to the age of 65.
Paternity Leave
- Extension of paternity leave to two weeks from the current one week;
- The extra week will be paid for by the Government, should employers opt in;
- This will be implemented on a voluntary basis for now, however, it would be in effect for all public services;
- The paternity leave changes will apply retroactively with effect from Jan 1, 2015.
Read the full text here.