SINGAPORE: Making sure no worker - young or old, employed full-time or freelancing, low-wage or not - is left behind emerged as a central theme in Parliament on Tuesday (Feb 26), as Members of Parliament (MPs) debated the recently unveiledSeveral members, many of whom are also Labour MPs, commended the Budget for being “pro-worker”, at the same time suggesting ways for it to be more worker-centric.
Holland-Bukit Timah GRC MP Liang Eng Hwa asked for workers, and especially older workers to be given more job security. “Most importantly, many of them expressed the fact that they are still physically able, relatively healthy and want to continue to be gainfully employed,” he said. He cautioned that removing the retirement age does not mean to “get Singaporeans to work till they die”.
This shows that there is a structural mismatch between the supply of and demand for manpower, he said, painting a bleak picture of the consequences. There will be ageing Singaporeans who will not have enough savings and who do not own housing assets, he said. If their CPF Life payouts can start earlier, their financial well-being will be secured with their own savings.
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