S$10,000 to help SMEs rehire older workers December 22, 2011 by SGEntrepreneurs SMEs in Singapore can now apply for a S$10,000 (US$7,675) grant to cover the costs of implementing a system to rehire older workers. The initiative, called the Capability Development Grant c, comes in anticipation of the Retirement & Re-employment Act , which will come into force on 1st January. The Act requires companies to allow appropriate employees above statutory retirement age of 62 to continue working up to 67. The new legislation is in line with the government’s effort to help senior employees remain productive in the economy, in order to address the constant worry regarding the country’s ageing demographic. Though helpful, obtaining the S$10,000 grant will not be an easy task for companies. Applicants must fulfill a set of criteria in order to be eligible for the funding, which include...
Full article: http://sgentrepreneurs.com/news-stop/2011/12/22/s10000-to...
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