08 Feb '11, 9am

More help for older low-wage workers: SINGAPORE: A workgroup set up by government feedback portal REACH, which l...

More help for older low-wage workers: SINGAPORE: A workgroup set up by government feedback portal REACH, which l...

SINGAPORE: A workgroup set up by government feedback portal REACH, which looked into manpower issues, has recommended better support programmes for low-income workers who are above 65 years old. They were made bearing in mind the need to preserve the incentive to work and self-reliance. One proposal is for Individual Unemployment Credits to support workers during their involuntary unemployment period. Workers who are involuntarily unemployed should be allowed to take a loan from their CPF account based on a percentage of their last-drawn salary, with a cap for three months. Workers contribute one per cent of their monthly incomes, up to a cap, to this scheme with equivalent co-funding by the government. Those earning below S$1,000 may be exempted from contribution, with the government paying the full amount into the account. The loan has to be paid back upon employment. An...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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