When the United Overseas Bank (UOB) set its sights on how to better take care of employees nearing retirement, the company came up with a specialised set of workshops and post-retirement benefits under SURF, or “Supporting Ur Retirement and Future.”
SURF aims to provide much-needed support for employees in preparation for life after working.
The workshops span a total of two-and-a-half days with a focus on strengthening their mental, physical, and financial preparedness. Materials focus on developing a reliable health plan catering to their unique physical profiles. They also include strategies to enhance their cognitive abilities and keep their minds sharp, and awareness on proper estate planning.
UOB also extends medical insurance coverage to eligible retirees for six months after their retirement, ensuring a seamless transition into their “golden years” that would be starkly different from their professional careers. Moreover, the bank maintains certain staff privileges such as preferential deposit interest rates and waived annual fees on credit cards.
Mr. Dean Tong, UOB’s Head of Human Resources, shared that such initiatives “ensure that UOB employees are supported and enabled at every stage of their careers in a constantly evolving environment, whether they are a prospective hire, a mid-career professional looking to upskill or a veteran preparing for retirement.”
COMPANY PROFILE: United Overseas Bank (UOB)
Industry: Banking
Headquarters (Southeast Asia): Singapore
Other Locations: Indonesia, Malaysia, Thailand
No. of Employees (Southeast Asia): 46,045
FACT FILE: SUPPORTING UR RETIREMENT AND FUTURE (SURF)
Timeline: Ongoing (Since October 2023)
HR target areas:
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- Compensation and Benefits
- Employee Health
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