Plans to help older low-wage workers
-
By Mustafa Shafawi | Posted: 08 February 2011 1644 hrs
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.
It recommended an unemployment credit, in which a worker who has been laid off can take a loan from his Central Provident Fund (CPF) account for three months.
The loan amount would be determined by the last-drawn salary of the worker, and would be subject to a cap of three months.
To fund the scheme, workers would contribute one per cent of their monthly income. The government would co-fund the scheme by making the same amount of contribution.
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.
Another proposal is for a Wage Insurance Scheme which subsidises 50 per cent of salary difference between new and old jobs, when an individual who is involuntarily unemployed take on a lower-paying new job.
Like the Individual Unemployment Credit proposal, this insurance scheme is funded via a one per cent co-payment by workers and the government.
A third recommendation is a basic retirement grant.
REACH said the proposal is to provide a modest monthly stipend to individuals aged 65 years and above, who are identified as being in the low income and savings groups, to assist them with meeting their basic consumption needs.
The workgroup suggested a monthly stipend of S$200 to S$300, similar to a scheme in Hong Kong called the Normal Old Age Allowance.
To determine eligibility and to ensure that the scheme is targeted, means-testing can be conducted through assessing a worker's income level and assets.
REACH said this small grant is intended to be just one component of retirement adequacy, with other components like part-time work and personal savings making up the rest.
To help older workers integrate into the workforce better, the workgroup has also suggested job re-design, such as having flexible working hours and shorter shifts, as well as customised training such as an internship programme to help older workers learn customer service skills.
Responding to the workgroup's recommendations, the Manpower Ministry (MOM) said the government is committed to helping older and low-wage workers and will study the proposals.
It added that the budgetary implications of any proposal must also be carefully considered, so that any schemes that are rolled out are sustainable.
-CNA/wk -
very funny, more funny than clivey's joke or my joke...
you obtain a loan from your own money?
is it a periodic reminder that those money belongs to the MIWs?
-
Originally posted by kengkia:
very funny, more funny than clivey's joke or my joke...
you obtain a loan from your own money?
is it a periodic reminder that those money belongs to the MIWs?
told you so, CPF is govt property.
-
wat govt?
-
Originally posted by FBFIce:
wat govt?
no govt, it's a coroporation called singapore Inc.
-
Originally posted by kengkia:
no govt, it's a coroporation called singapore Inc.
it's all in the FamiLee.
-
all studies and measures should work out from the worst lots of this group depicting the real life cycle based on true living conditions....they will defintiely see the many gaps of their recommendations...some critical variables may have been left out.....
then u can see a real sustainable measure for the older low income groups...
aside, they need to consider this in the light of parents maintenance act....as children, we need to play a pivotal role....
and from here...another integral measure can be surfaced with another bunch of gaps pressurizing on the younger groups...so on and forth....
in a nutshell, they need to roll out a more INTEGRATED plan than piecemeal measures....i dun think it is integrative enough...
social engineering (if ever the word "social" is truly their agenda) must be bottom-up
-
Originally posted by Fcukpap:
all studies and measures should work out from the worst lots of this group depicting the real life cycle based on true living conditions....they will defintiely see the many gaps of their recommendations...some critical variables may have been left out.....
then u can see a real sustainable measure for the older low income groups...
aside, they need to consider this in the light of parents maintenance act....as children, we need to play a pivotal role....
and from here...another integral measure can be surfaced with another bunch of gaps pressurizing on the younger groups...so on and forth....
in a nutshell, they need to roll out a more INTEGRATED plan than piecemeal measures....i dun think it is integrative enough...
social engineering (if ever the word "social" is truly their agenda) must be bottom-up
bottomline CPF is not yr money.
-
hahaha.....that is what we called BO BIAN ACT....
-
Originally posted by Fcukpap:
hahaha.....that is what we called BO BIAN ACT....
66% loves them.
-
Lots of people will still believe, PAPist can do no wrong, PAPist are infallible, only PAPist have solutions to our problem.
They would say, "Stop being spoilt and swallow the bitter pill, if it doesn't kill you it would only make you stronger." Little known to all is that the pill all along is poisonous, but people are swallowing it up like candy.
-
Old age stipend for low income elderly.....expect criteria to be very very very stringent as usual.
Loan from CPF, yeh that's a joke. Why can't they just take? It's their own money. Who the hell thinks about repaying back at all when they have been in financial hardship for a large part of their lives.....remember....low income workers leh. Hawker prices have been reported to be going up, good luck. When will this poverty ever end.
And everything applies to those over 65....some people 58 already look like 70. Where got time to wait till 65 lol.
And then the wayang continues.....PMO will take one or two of these rubber stamped suggestions to show they do take feedback seriously.
-
can i have my money back please
-
Originally posted by kengkia:
very funny, more funny than clivey's joke or my joke...
you obtain a loan from your own money?
is it a periodic reminder that those money belongs to the MIWs?
You use cpf to pay your house and when you sell your house you still need to pay back the cpf plus interest.You use cpf to pay for education and you need to pay with interest too.
so what do you think?
-
Originally posted by goodheart:
You use cpf to pay your house and when you sell your house you still need to pay back the cpf plus interest.You use cpf to pay for education and you need to pay with interest too.
so what do you think?
funny you got to pay money for using yr money isn't it?
-
just like banks...
u deposit YOUR money in banks...
banks use YOUR money to give YOU a loan...
-
unemployment credit - makes the worker even poorer in future before he can land a job now.
-
Originally posted by GHoST_18:
just like banks...
u deposit YOUR money in banks...
banks use YOUR money to give YOU a loan...
ghost banking?