Prudential puts words into deeds – scraps retirement age

There’s so much ‘hot air’ about the ageing population it’s good to see a company taking firm action for a change.

Effective October 1st, 2018 Prudential Singapore has scrapped the statutory retirement age of 62. This gives its 1,100 employees the option to have extended careers to fulfil their personal and financial aspirations. 

With the lifting of the retirement age, employees approaching the statutory retirement age of 62 can stay on in their jobs and be entitled to the same benefits, including medical, as all employees while drawing the same salary as before.

They will still receive a retirement payout any time they choose to leave their jobs.

This is a big step.

Recently, Prudential released a report prepared by Economist Intelligence Unit entitled Ready for 100 which reveals data about work/ retirement attitudes.

This is a rare case of a company being prepared to put words into actions when it comes to the ageing of society.

I wonder what adaptations Prudential has made to the work environment to ensure that it meets the physical challenges we experience as we age. Think lighting, desk/seating height for starters.

Here’s how we do it.