The Government is looking at more help for baby boomers,
especially the low-income workers, by giving them a special
workfare bonus.
Prime Minister Lee Hsien Loong announced this at the People's
Action Party Convention on Sunday morning.
Mr Lee, who is also the party's
Secretary-General, added that all Singaporeans would be taken care
of, especially those with specific needs and they would share the
fruits of the country's economic success when there were budget
surpluses.
The Prime Minister said Asia is on the move, and opportunities
abound.
And he is confident that Singapore will ride this wave and adapt to
the new competitive environment.
At the same time, Mr Lee said the Government recognised that some
Singaporeans may have difficulty keeping up.
And it has plans to help them cope
through schemes like the New Singapore Shares and the Economic
Restructuring Shares.
He said: "As always with Singapore, we keep tinkering with our
schemes and next time we make sure our schemes work better. How can
we work them better? First, we have a general scheme for all
citizens - that's necessary, we all contributed to this we should
get something when we do an asset share. But in addition to that,
we should have specific little schemes to help particular groups
which need help."
The Prime Minister also gave the reassurance that the government
would continue to help those Singaporeans who may find it difficult
to keep up with the pace of change.
These groups include the low-income group
and elderly Singaporeans.
Another target group is the low-income baby boomers or older
workers in their 40s and 50s and one idea is to give them a special
one-off workfare bonus.
PM Lee said: "Those with lowest incomes should have biggest bonus
and the bonus is only paid to those working as an incentive or
reward for work. So the workfare bonus is consistent with the
principle of workfare - if you make the effort, you will be
rewarded."
Workfare aims to provide support for low-wage workers without
encouraging welfare.
About 300,000 workers now fall in this group, earning S$1,200 or
less in gross monthly income.
The Committee on Low-Wage Workers is studying this idea and will
come up with its recommendations soon.
Full report
http://www.channelnewsasia.com/stories/singaporelocalnews/view/177223/1/.html
Yippeee! 
