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Retirement benefits

dewi  
Guest
Mon, 01 Oct 2007 02:06:31 PM  (Last updated: Tue, 02 Oct 2007 10:50:34 AM)

Anyone know what are the current practice for retirement benefits ?

KL Siew
Administrator
Mon, 01 Oct 2007 04:50:01 PM

As far as the Employment Act 1955 is concerned, Section 60J empowers the Minister to make regulations pertaining to termination, lay-off and retirement benefits. As it is now, only regulations pertaining to termination and lay-off benefits were made as in the Employment(Termination and Lay-off Benefits) Regulation 1980. So far no regulaltions have been made for retirement benefit yet.

"...60J. Termination, lay-off and retirement benefits.

(1) The Minister may, by regulations made under this Ac

kat
Guest
Tue, 02 Oct 2007 09:05:24 AM

Mr. Siew, am I correct to say that if in the contract of employment stated the age of retirement, then the employer need not pay under section 60J.

KL Siew
Administrator
Tue, 02 Oct 2007 10:50:34 AM

Regulaltion 4 of the Employment (Termination and Lay off Benefits) Regulations 1980 has something to say about it:

"....4. (1) Subject to paragraphs (2), (3) and (4), an employee shall be entitled to termination benefits payment where his contract of service is terminated for any reason whatsoever otherwise than -

(a) by the employer, upon the employee attaining the age of retirement if the contract of service contains a stipulation in that behalf; or

..."

For more info pleas

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