Understanding the New Part-Time Re-Employment Grant: Up to $125,000 Grants to Employers

In a bid to support senior workers and foster an age-friendly workplace environment, the Singapore government has introduced the Part-Time Re-Employment Grant (PTRG). This grant provides substantial funding to employers who offer part-time re-employment, flexible work arrangements (FWAs), and structured career planning (SCP) to their senior employees.

Benefits for Employers

1. Part-Time Re-Employment Opportunities: PTRG encourages employers to provide part-time re-employment options to senior workers, enabling them to attract and retain experienced talent.
2. Structured Career Planning (SCP): Employers can benefit from funding support of up to $125,000 per company to implement SCP for mature and senior employees. SCP helps employees stay relevant in the workforce and supports employers in retaining skilled workers.

Benefits for Employees

1. Flexible Work Options: Employees gain the flexibility to reduce their work intensity and undertake part-time work arrangements during the re-employment phase, enhancing work-life balance.
2. Employment Assistance: Eligible employees are entitled to an Employment Assistance Payment if the company cannot provide suitable part-time vacancies during the re-employment phase.

Eligibility Criteria

• Company Eligibility: Any registered or incorporated company in Singapore, including societies and non-profit organisations, can apply.
• Worker Criteria: Companies must have at least one resident senior worker aged 60 years and above at the time of application and claim.
• Adoption of Standards: Employers must adopt the Tripartite Standard on Age-Friendly Workplace Practices and FWAs, along with offering FWAs and SCP as part of their formal HR policy.

Funding Details

• Grant Amount: Eligible companies can receive $2,500 per resident senior worker (aged 60 and above), with a total funding cap of $125,000 per company.
• Application Limit: Companies that have previously received the PTRG are not eligible to reapply.

Summary

The Part-Time Re-Employment Grant serves as a crucial initiative in promoting inclusivity and supporting the aging workforce in Singapore. By offering financial incentives to adopt part-time re-employment policies and flexible work arrangements, the PTRG benefits both employers and employees, fostering a more sustainable and supportive work environment for senior workers.

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