ADVANTAGE SCHEME

ADVANTAGE SCHEME: **

(Effectiveness in re-employment of older workers): **

42.

Ms Jessica Tan Soon Neo asked the Minister for Manpower whether the ADVANTAGE! Scheme has been effective in the re-employment of older workers and, if so, in which industries.

Dr Ng Eng Hen: The Singapore Workforce Development Agency (WDA) introduced the ADVANTAGE! Scheme in October 2005. The Scheme was one of the key recommendations of the Tripartite Committee on Employability of Older Workers. It provides a comprehensive package of incentives to companies to undertake initiatives ranging from job redesign and automation, to wage restructuring, to facilitate the employment and re-employment of mature workers.

Companies have responded positively to the ADVANTAGE! Scheme. As at December 2006, 303 companies have already come on board the Scheme to introduce age-friendly employment practices. A total of $8 million has been committed to funding various projects by these companies.

The 303 companies have committed to hiring more than 2,200 mature workers and re-employing more than 3,400 workers beyond the retirement age of 62 years. These companies come from a wide range of industries including Transport, Retail, Education, Healthcare, Finance and Hotels.

The ADVANTAGE! Scheme has proven to be an important vehicle to promote and facilitate the change of mindsets of employers to employ more older workers, and re-employ those beyond the retirement age. MOM/WDA, together with the tripartite partners, will continue to encourage companies to tap on the ADVANTAGE! Scheme.

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