Government workgroup planning to help older low-wage workers.

By bne IntelliNews February 9, 2011
A workgroup in Singapore, set up by government feedback portal REACH, which looks after manpower issues, is planning to recommended better support programmes for low-income workers who are above 65 years old. As reported by channelnewsasia.com, the programme 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. The workers would contribute 1% of their monthly income to fund the scheme. The government would co-fund the scheme by making the same amount of contribution but those who are earning below SGD 1,000 are likely to be exempted from contribution, with the government paying the full amount for the fund.
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