Restore CPF contribution rates for workers aged above 50 to 55

In the late 1980s, workers above the age of 50 were considered old, slow and less agile. To incentivise employers to keep them, their Central Provident Fund (CPF) contribution rates were lowered.

Many employers embraced this mentality to employ young or foreign workers and ageism persists. But now that re-employment is being extended to beyond the age of 65, workers above 50 to 55 should no longer be considered as old.

Also, with the rising prices of Housing and Development Board flats over the years, many CPF members would have depleted their savings meant for old age.

It is never too late to restore the contribution rates for workers aged above 50 to 55, which the National Trades Union Congress has called for, as reported in “NTUC calls for flexibility in CPF lump sum withdrawals” (Jan 22).