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02-05-2023, 04:08 PM
The real killer isn't stuff like post-employment contractual age or even when the company can forcefully retire you, it's the CPF withdrawal and commencement of gratuity payments age that really impacts most people.
If the government gradually raises the CPF policy age to 70 as well, potentially a lot of Singaporeans who do not have the fortune of having a company that is willing to accept them at such an old age could be forced to work in menial jobs to make ends meet while waiting for CPF payments to commence.
From my own experience, most large organizations actively try to manage out most employees once they hit their early 50s. Usually only blue collar technical workers or top executives hang around till their late 60s.
If the government gradually raises the CPF policy age to 70 as well, potentially a lot of Singaporeans who do not have the fortune of having a company that is willing to accept them at such an old age could be forced to work in menial jobs to make ends meet while waiting for CPF payments to commence.
From my own experience, most large organizations actively try to manage out most employees once they hit their early 50s. Usually only blue collar technical workers or top executives hang around till their late 60s.
