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Asian News - Singapore: Govt rules out unemployment insurance

Source: Asia Insurance Review | May 2016

Manpower Minister Lim Swee Say has ruled out redundancy insurance and unemployment benefits for Singapore. 
   In a speech in Parliament in April, Mr Lim explained the government’s stance, saying that Singapore enjoyed low unemployment rates while the practice of paying retrenchment benefits by local entities is widespread. He cited a Ministry of Manpower survey that showed that nine in 10 companies paid retrenchment benefits.
   In addition, he said that efforts to help retrenched workers should be focused on getting them back to work “as quickly as possible”.
   His speech followed proposals by several Members of Parliament for the government to boost support for workers who are made redundant.
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