The new Part-Time re-employment grant (PTRG) is part of the Government Assistance programs outlined in Singapore's FY2023 Budget Statement. These initiatives encompass grants, loans and tax incentives. For a deeper understanding of Singapore's budget statement, please refer to Overview of Tax Changes – Singapore Budget 2023.
Specifically, among the various grant types established by the Singaporean government, the first program is the Part-Time Re-employment Grant (PTRG). The PTRG aims to assist companies in implementing part-time re-employment flexible work arrangements (FWA), and structured career planning (SCP) for senior workers.
Companies that have been approved for the New Part-Time Re-employment Grant (PTRG) are required to provide their employees with the opportunity to reduce their work intensity and transition into part-time work arrangements during the re-employment phase. In cases where a suitable part-time position cannot be identified, eligible employees will be entitled to receive an Employment Assistance Payment as a form of support.
Companies of all types registered or incorporated in Singapore, including societies, non-profit organizations such as charities and voluntary welfare organizations, are eligible to register for the New PTRG.
In order to qualify for the grant, companies must meet certain criteria:
- Have at least one senior worker aged 60 years and above at the time of application and claim.
- Provide part-time re-employment opportunities to eligible senior workers upon their request.
- Adopt the Tripartite Standard on Age-Friendly Workplace Practices.
- Adopt the Tripartite Standard on Flexible Work Arrangements.
- Offer Flexible Work Arrangements (FWAs) and implement Structured Career Planning (SCP) as part of their formal HR policy.
- Commit to providing SCP to mature employees aged 45 and above in their HR policy.
- Send one senior management representative and one HR practitioner to attend a fully funded SCP workshop for senior management and HR practitioners, respectively, conducted by Singapore National Employers Federation (SNEF).