The Retirement Letter Template is a crucial document used when an employee reaches retirement age under Singapore law. It ensures compliance with the Retirement and Re-employment Act, which sets the minimum retirement age at 63 and re-employment age up to 68. The template provides a standardized format for communicating retirement arrangements, including final payments, CPF considerations, and potential re-employment opportunities. It should be used when an employee approaches statutory retirement age or opts for voluntary retirement, serving as both a formal record and a guide for proper retirement procedures under Singapore employment law.
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Key Requirements PROMPT example:
Retirement Letter Template
I need a Retirement Letter Template for our Finance Director who will retire on March 15, 2025, including specific provisions for a 3-month handover period and potential consulting arrangements after retirement.
1. Employee Details: Full name, employee ID, position, department, and other relevant identification information
2. Retirement Date: Statement of effective retirement date and confirmation of last working day
3. Notice Period: Confirmation of notice period fulfillment and arrangements for the notice period
4. Final Payments: Details of final salary, pro-rated bonuses, unused leave encashment, and other entitlements
5. Handover Arrangements: Process and timeline for transitioning responsibilities and ongoing projects
1. Re-employment Offer: Terms and conditions of re-employment if applicable under the Retirement and Re-employment Act
2. Retirement Benefits: Details of any special retirement benefits, gratuity payments or recognition programs
3. Exit Interview: Arrangements for exit interview and feedback process
4. Non-Compete and Confidentiality: Reminder of ongoing obligations regarding company confidentiality and non-compete agreements
1. Benefits Summary Schedule: Detailed breakdown of final payments, benefits, and entitlements
2. Handover Checklist: Comprehensive list of tasks, responsibilities, and documents to be handed over
3. CPF Documentation: Required forms and information related to CPF arrangements post-retirement
4. Company Property Return Form: Checklist of company property to be returned before the last working day
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