Civil servants and public employees, who have received a warning or are under disciplinary action, have been called on to resign as one of the ways to carry out the downsizing policy.
More than 16 million informal workers in Thailand have not participated in any savings scheme to prepare for their life during retirement even though the country is expected to become an aged society in the next two years.
The Politburo and the Secretariat of the Party Central Committee on November 27 handed over retirement decisions to six Politburo and Secretariat members of the 12th Party Central Committee who have not run for seats in the 13th tenure.
Philippine President Rodrigo Duterte said on October 2 that he would retire from politics, a surprise move that fuelled speculation he was clearing the way for a presidential run by his daughter.
Indonesia’s national flag carrier Garuda is planning to halve its fleet of 142 aircraft as it faces huge pressure due to the COVID-19 pandemic and a debt of 70 trillion IDR (4.9 billion USD).
Phu Quoc island of the Mekong Delta province of Kien Giang has been named among 15 best islands in the world to retire on in 2021 by www.travelawaits.com.
The International Labour Organisation (ILO) has welcomed the new rights of workers and employers in Vietnam from January 1 as the revised Labour Code adopted in 2019 takes effect.
Some special occupations including preschool teachers should be allowed to retire earlier than the age set in the Labour Code, said Trinh Thanh Hang, head of the department for woman affairs of the Vietnam General Confederation of Labour (VGCL).
According to International Living, Vietnam’s exceptionally low cost of living is a major incentive for living here. Even in the most expensive cities such as Ho Chi Minh City and Hanoi, two people can live well for less than $1,500 per month.
The Presidential Office held a press conference in Hanoi on December 16 to announce the President’s order on the laws adopted at the recent eighth session of the 14th-tenure National Assembly.
The retirement age for male and female workers will increase from 60 and 55 at present to 62 and 60 respectively in 2035 under the revised Labour Code that has been passed by the National Assembly.
The retirement age for male and female workers will increase from 60 and 55 at present to 62 and 60 respectively in 2028 and 2035 under the revised Labour Code passed by the legislature on November 20
The retirement system of Singapore takes the top spot amongst Asian countries and regions, and ranked seventh out of 37 retirement systems globally, according to the latest Melbourne Mercer Global Pension Index (MMGPI).
The revised Labour Code is expected to be submitted to the National Assembly for approval this month. However, major changes to the law are still under discussion in an attempt to ensure gender equality and enhance the development of female workers.
Vietnam ranks among the seven cheapest coastal countries in the world for retirees, according to International Living, an Ireland-based publishing company that writes about retiring overseas and Panama-based travel magazine Live and Invest Overseas.
Singapore will gradually raise retirement age by three years to 65, Singaporean Prime Minister Lee Hsien Loong said on August 18 in his speech on the country’s National Day.
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