Preparing for Re-employment
As you are nearing the retirement age, you may be considering between retiring or continuing to work. Before making your decision, you need to ensure that you have a retirement plan that will hold up throughout your retirement.
Spend some time assessing your needs and preferences, as well as your goals – both within and beyond your career. To some individuals, working can be a complementary activity to a fulfilling life, enabling you to stay physically and mentally healthy, in addition to financial gains.
Refer to the three pillars for a fulfilling retirement here for a guide to making this key decision.
Your employer may begin engaging you 6 months before retirement regarding re-employment opportunities in the organisation.
During this discussion, you should
- Indicate your job preferences early on in the consultation process
- Be flexible towards changes to your employment terms or job arrangement
During the negotiation process, be open about your re-employment plans to find the best option for your needs. The contract offered by your employer need not necessarily be for the same job or on the same terms.
You might be concerned that the new contract offered to you could possibly impact your current responsibilities and take-home pay. However, adjustments to any terms and conditions should still be based on reasonable factors such as productivity, duties and responsibilities. Be realistic about what you can or cannot take on. Consider various flexible work arrangements that can help you manage your commitments in and out of work.