Updates from the Ministry of Manpower’s Committee of Supply 2017
MOM’s COS speeches were delivered in Parliament on Monday, 6 March 2017. The initiatives announced aim to:
- Create Quality Jobs for Singaporeans
- Help Singaporeans Take on New Jobs
- Strengthen Local-Foreign Workforce Complementarity
- Enhance the Employment Protection Framework
- Enhance Retirement Adequacy for Singaporeans
Create Quality Jobs for Singaporeans
Support for SMEs to adopt Technology
With the SME Go Digital Programme, firms will receive targeted help to build stronger digital capabilities.
Firms can approach advisers at SME Centres for off-the-shelf technology solutions or seek specialised advice from the new SME Technology Hub.
Sectoral Industry Digital Plans also provide SMEs with step-by-step advise on technologies they can adopt at each growth stage.
Job and Career Redesign to Foster Inclusive Growth
To attract more locals and benefit older, lower-wage and back to work candidates
Help Singaporeans Take on New Jobs
Better Job Matching
Jobmatching of candidates to opportunities will be enhanced through career matching services at Career Centres, Career Fairs and partnerships with Employment Agencies to place unemployed PMETs.
Wage and Training Support for Jobseekers
Wage and Training Support will be increased to help Jobseekers find employment through:
- Career Support Programme (CSP),
- Professional Conversion Programme,
- Work Trial Programme and
- Attach-and-Train Programme.
Strengthen Local-Foreign Workforce Complementarity
Human Capital Partnership Programme
This tripartite initiative brings together employers who are committed to grow their businesses and stay competitive by adopting progressive employment practices and developing their human capital.
Fair Consideration Framework Watch List
Tracks firms not doing enough to hire and groom Singaporeans.
Differential prioritisation for MOM’s Services
- Fast Lane: Human Capital Partnership Partners / Progressive Employers
- Normal Lane: Majority of fair Employers
- Slow Lane: Employers on watch list for unfair HR Practices
Enhance the Employment Protection Framework
Employment Claims Tribunal (ECT) and the Tripartite Alliance for Dispute Management (TADM)
Provides employees and employers with an accessible and expeditious avenue to resolve employment disputes, when they arise.
Enhanced Protection under the Tripartite Mediation Framework
Eligibility is extended to all PMEs and Rank-and-File union members in non-unionised companies, regardless of salary.
Tripartite Work Group to look into wellbeing of Freelancers
Tripartite work group setup to study issues and address concerns raised by Freelancers during a MOM survey last year.
Enhance Retirement Adequacy for Singaporeans
CPF Investment Scheme (CPFIS)
A self-assessment tool will be able to help members determine suitability of CPFIS.
The cap on sales charge will also be lowered to discourage intermediaries from actively selling products.
Asset classes offered under CPFIS will be reviewed if they are appropriate for growing retirement savings.
CPF Life Escalation Plans
From January 2018, CPF members will be able to opt to receive escalating payouts under the CPF Life national annuity scheme.
CPF Retirement Planning Service
This retirement planning service will be offered to members who turn 54 this year. These one-on-one sessions aim to help members understand the CPF schemes and the options available to them.
Please click here to find out more.
