Plans to help
older low-wage workers
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.
+++++++++++++++++
I wonder 'WORKGROUP' is who? So call the
SCHOLA'RS?
This idea is kind of funny as you are telling the
sporean :
YOU
PARK YOUR MONEY, YOU BORRROW FROM YOUR MONEY, YOU RETURN YOUR MONEY
WHEN YOU ARE EMPLOYED.
Weird.
