Global aviation cargo and ground handler SATS Group (SATS) will raise the age of retirement to 64 and the age of re-employment to 69 for employees based at its Singapore headquarters.
The policy will take effect immediately to keep a year ahead of the Singapore government's scheduled legislative change, which will see the retirement age being raised to 64 from 63 and the re-employment age increased to 69 from 68.
Under the new policy, eligible employees who reach the retirement age will be offered re-employment contracts up to the re-employment age of 69.
This, SATS notes, will be expected to benefit more than 700 employees who will reach the retirement and re-employment age in 2025.
According to the group, SATS’ employees have worked for the group for an average of 30 years.
Tan Chee Wei, chief human capital officer, notes: “This initiative reinforces SATS’ commitment to supporting a multi-generational workforce and fostering a culture of inclusivity, respect for experience, and strong labour-management relations.”
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Meanwhile, SATS has implemented job re-design initiatives to ensure it helps its employees with evolving business needs while enhancing employee engagement and ensuring they remain equipped to meet evolving job requirements.
This can be seen in the group’s employee development programme, which is open to all employees and ensures that roles which require digital competencies will include targeted training to ensure performance in a tech-enabled environment.
“We believe in supporting our employees in building fulfilling and meaningful careers where they feel truly appreciated. Mature employees are provided the same training and development opportunities as their younger colleagues, in alignment with their job roles,” adds Tan.
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Goviden Sathasivam, general secretary, SATS Workers’ Union (SATSWU), says: “The union is encouraged by our fruitful discussions with SATS on raising the retirement and re-employment ages, which provide assurance of job security for our senior workers.”
Cham Hui Fong, deputy secretary-general of National Trades Union Congress (NTUC) and executive secretary of SATSU, concludes: “This approach boosts workforce efficiency and enables older workers to extend their careers, remaining valuable contributors within the organisation. As Singapore strengthens its position as a regional aviation hub, such efforts are crucial in building a dynamic and adaptable workforce."
Shares in SATS closed three cents higher, or 0.99% up, at $3.07.
