Page 29 - 2018 MSC HR Policy

Chapter 8

Benefits and Allowances

8. Retirement Award

At the age of 60 years old, the employee will be advised during the year which they turn 60 of their retirement.
All employee retirement shall be effective on 1 January of the following year.
st

The company shall provide the below information to the respective employees in the birth month;
1. Retirement Notification, indicating the retirement package which will be paid on 31 December of that
st
year
2. Provident Fund Notification, which will be paid within January of the following year

Should there be any case which post-retirement contract shall be offered to the employee, the Head of the
Business Unit will prepare the supporting document and work with HR Department to gain the approval from
the respective C-Level and Group CPO.

HUMAN RESOURCES POLICY Page 29 of 49
VERSION: HR001-2018, JANUARY 1, 2018