Lucky draw to get low-wage workers to join CPF scheme

[Stallion]

There will be more and more of bankruptcies in time to come..
Looking at the rate of inflation, this price hike, that price hike, and once the property bubble burst, that's it..
Aleluya...

[Stallion]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/282957/1/.html

Committee set up to look into CPF, related benefits for low-wage workers
Posted: 18 June 2007 1509 hrs

SINGAPORE : The Manpower Ministry has formed a tripartite committee to look into CPF and related benefits for low-wage workers.

It is chaired by Minister of State for Education and Manpower Mr Gan Kim Yong, and for a start, will convene for a period of one year.

Other members include employer and union representatives such as Singapore Business Federation Chairman and Singapore National Employers Federation (SNEF), President Stephen Lee and National Trades Union Congress (NTUC) President John De Payva.

The "Tripartite Committee on CPF and Work Related Benefits for Low-wage Workers" (TriCom) will identify the key sectors where a large number of informal workers or self-employed persons are not making CPF contributions.

It will also look at impediments to regular CPF contributions and other employment problems faced by low-wage workers.

The committee will then introduce measures to incentivise contributions to CPF and Medisave by employers and workers, as well as strengthen the protection of employment benefits for low-wage workers.

It will work with multi-agency initiatives and leverage on existing networks, such as those of NTUC, SNEF, the People's Association and trade & industry associations to encourage low-wage workers to make regular CPF contributions, as well as seek redress in areas where they are deprived of other work-related benefits. - CNA /ls

[eothian]

Shouldn't they find out the reasons why the lower wage workers don't contribute to CPF ? Does that mean they don't know about this policy ? Or simply, they cannot afford the put aside their wages for CPF because they are not even earning enough to meet their daily needs ?

[ya1012]

For the lower wage group, "money is really not enough"... , they probably know that already... I suppose they're pushing this CPF contribution so that the low wage workers can "take care of themselves-medical expenses especially" during old age.  Our govt is smart isn't it? So they dun "burden" the economy when our population ages...  Off course to put it nicely to them or "packaging"per se, they'll tell u saving in CPF is good for you! Who doesn't know that? But for them, the lower wage worker like one of my relatives, salary just cover barely expenses.