THE downturn should not cause Singapore to relent in its drive to get older people to work longer, Prime Minister Lee Hsien Loong said yesterday.
The reason? Members of this generation will be assets for many more years

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Let the government org take lead and show example.

asset rich, cash poor= alot of experience but pay them less for the same work...what for?? better to retire...

This is a FANTASTIC GREAT excuse and reason for extending Singaporeans CPF withdrawal age.
From age 55 originally to age 62 and now age 65. Next will be age 70 then can withdraw our CPF.
Wait and see.

With the rate HDB (Surbana Corp) flats, both NEW ones and resale (HDB valuations), are INCREASING in prices, our children may well see $1MILLION HDB (Surbana Corp) flats.
So Gahmen will have to extend mortgage period from maximum 35 yrs to maybe 40yrs or so.
Thats why now better start telling Singaporeans work longer and postpone our CPF withdrawal age so that can pay more to Surbana Corp (wholly-owned by Temasek) for our or our childrens' 99yr leasehold HDB (Surbana Corp) flats.

For those who interested to know what I talking about HDB = Surbana Corp
please see my posts in the "Private homes continue freefall but HDB prices hold up" thread.
I welcome anyone's comments whether agree or disagree with me.
Thanks.

I know what you mean. There seems to be contradicting policies between what the govt says and what the organisations are actually doing! The moment the staff turns 62 years old, his/her monthly pay is cut by 20%! This 20% is in cold cash, not CPF contribution!! The reduction is therefore double jeopardy, pay cut and CPF cut!!! This translate to having the same responsibilities and being paid less double time! This means that the value of what you do is reduced by more than 20% the moment you turn 62 years old! Do not understand the rationale. How does this motivate the experienced and mature senior worker to feel valued and wanted???

filial piety has taken a different meaning today. besides active aging, many old folks understand that they need to work because their chidren simply cannot support them. mortage loans tenure sometimes exceeds lifespan.

PM Lee said that elderly workers may need to accept lighter work and also smaller pay. What about our MM Lee? Does he do lighter work and so should also have a smaller pay compared to PM Lee or younger SM Goh?
Walk the talk.

Wah, 'jia lard' ah, lplp!!! Dare to raise question on PM daddy's pay? No lah! Juz kidding. Actually it's already on everyone's lips lo!

MM workload alto light but VERY IMPT - he once mentioned that all his ministars are pressing(operating) the buttons (the various impt ministries)... BUT he CONTROLS the ONLY switch to all these buttons. So LIGHTER WORK doesnt mean lesser pay...