In an upcoming scheme, workers who lose their jobs will receive up to $6,000 in temporary financial support to help them through the transition. This new SkillsFuture Jobseeker Support scheme will be available for up to six months. However, beneficiaries are expected to engage in training, career coaching, and job matching services, as emphasized by Prime Minister Lawrence Wong during his inaugural National Day Rally speech on August 18.
“These are crucial investments in yourself to secure better employment opportunities,” PM Wong stated. “This reflects our renewed social compact—we will support you, but you must also take responsibility and make efforts to improve your situation.”
The scheme is designed to assist lower- and middle-income workers, particularly those who are retrenched or lose their jobs due to company closures. Further details about the scheme will be provided by Minister for Manpower Tan See Leng in due course, PM Wong noted.
Speaking at ITE College Central, PM Wong also addressed the Government’s stance on unemployment insurance, which is common in some countries. He expressed caution, noting that the experience with unemployment insurance abroad has not always been favorable, as generous benefits can sometimes discourage people from returning to work.
Nevertheless, PM Wong acknowledged that losing a job is a significant challenge that can destabilize workers and their families, highlighting the importance of reducing the strain on those affected. He mentioned that the Government is ready to introduce this new scheme following discussions with the National Trades Union Congress (NTUC) and the broader labor movement, which have been advocating for such support since October 2021.
The scheme, first announced by then Prime Minister Lee Hsien Loong at the 2023 National Day Rally, aims to enable those laid off to attend skills courses rather than accepting any job out of desperation. Minister Tan had indicated in his May Day message on April 24 that the scheme would be unveiled by the end of 2024. PM Wong provided initial details of the scheme on August 18.
In the same speech, PM Wong announced that workers attending part-time courses will be eligible for the SkillsFuture Mid-Career Training Allowance. Initially announced in Budget 2024, the allowance of up to $3,000 per month for up to 24 months over a Singaporean’s lifetime was originally limited to those taking selected full-time courses. This expansion aims to help workers enhance their skills while managing ongoing work commitments.
PM Wong highlighted that part-time courses come with their own challenges, such as attending classes after work and bearing additional expenses like fees and books. The Ministry of Education is currently working on the expansion and will provide more details when available.
Emphasizing the need for ongoing skills development, PM Wong noted that while Singapore has an excellent workforce, the pace of change across industries and workplaces is accelerating. He acknowledged that some jobs will become obsolete, but new, better-paying jobs will also emerge. To adapt, lifelong learning is essential.
“Some can adapt and thrive, but others find the rapid changes challenging,” PM Wong said, recognizing the difficulties faced by those who struggle with continuous learning. He assured Singaporeans that anyone who wishes to upgrade their skills, regardless of age, will have the opportunity to do so in Singapore.
Strengthening the SkillsFuture movement is intended to establish it as a cornerstone of Singapore’s social compact. Summarizing his vision, PM Wong stated, “As our economic transformation continues, we will do more to enhance Singapore businesses and to equip and support every Singaporean, even when they face setbacks.”
Source: The Straits Time