[h=1]
TAN CHUAN-JIN: OUR TRIPARTITE MODEL TAKES CARE OF SINGAPOREANS [/h]
Post date:
29 Apr 2015 - 12:33pm
Outgoing Manpower Minister Tan Chuan-Jin said that the government is trying to move towards a manpower-lean economy and that we should "press on".
He also said that the government is doing more to help elderly Singaporeans save enough for retirement.
"We must press on with our efforts to become a manpower-lean economy that is driven by productivity, innovation and skills; and one that can create good jobs and sustain wage growth for our workers,” Mr Tan said in his May Day message yesterday.
He also said that the government has been the "key enabler" to provide the infrastructure but said that labour unions and employers must work with the government.
In addition, he felt that the government's model of tripartism is "constructive" and thanked Lee Kuan Yew for it.
"(This model is) one which takes care of workers' interest, builds a competitive economy and gives all Singaporeans hope for a better future. The model has served us well, and will stand us in good stead to tackle future challenges," he said.
Mr Tan also praised the government's initiatives such as SkillsFuture, which he said will help workers “upgrade and upskill to stay relevant and capitalise on career opportunities in the New Age economy”.
He also praised the CPF tweaks that the government announced earlier this year.
“The recently announced changes to the Central Provident Fund (CPF), including a higher CPF salary ceiling and increased contribution rates for older workers, are also steps that we have systematicallly taken to boost Singaporeans’ retirement savings and incomes,” he said.
However, most Singaporeans do not think the tweaks go far enough to address the fundamental flaws of the CPF. For example, the basic interest rates on the CPF are still too low and there is still no transparency and accountability as to how the CPF of Singaporeans are being taken to use.
Still, the government's belief of helping the elderly increase their retirement savings is by asking them to work longer in their golden years.
“We are looking at ways to help older workers stay actively employed and to build up their retirement nests,” Mr Tan also said.
Mr Tan also said that the labour market will become tighter and said that companies will need to restructure and increase productivity.
However, he said that the government will continue with growing the foreign workforce, albeit at a sustainable level.
“The Government is fully committed to helping companies transform their existing business models, so that they can create better job opportunities for our workers,” he said.
“We will continue to strongly encourage businesses to innovate and strive for productivity improvements and in turn, raise the wages of our workers.”
However, even as Mr Tan showered praises on the government's efforts and claimed that the government has been looking to increase the wages of workers, it has been found
that real wage growth could only have grown by as little as 0.5 percent in the last decade.
In fact, wages have remained largely stagnant for low-income workers for the last 20 years and also for middle-income workers for the last 10 years or so.
As Mr Tan transits into his role to become the Minister for Social and Family Development (MSF), it does not look like there have been significant improvements to the lives of the workers in Singapore, after his helm at the Manpower Ministry.
In fact, his predecessor at MSF, Chan Chun Sing, had previously refused to define a poverty line in spite of Singapore having an estimated 30 percent poverty rate and Mr Tan does not seem likely to rock the boat.
Moreover, with Mr Chan moving to the labour union, NTUC to head it and where the current head Lim Swee Say will move to the Manpower Ministry to replace Mr Tan, it does not look like drastic changes will happen in these agencies.
It will be more of a same old same old. It is likely that policies will be not be improved to enhance the lives of Singaporeans, in terms of their wages and the adequacy of their pension funds.
TAN CHUAN-JIN: OUR TRIPARTITE MODEL TAKES CARE OF SINGAPOREANS [/h] Post date:
29 Apr 2015 - 12:33pm
Outgoing Manpower Minister Tan Chuan-Jin said that the government is trying to move towards a manpower-lean economy and that we should "press on".
He also said that the government is doing more to help elderly Singaporeans save enough for retirement.
"We must press on with our efforts to become a manpower-lean economy that is driven by productivity, innovation and skills; and one that can create good jobs and sustain wage growth for our workers,” Mr Tan said in his May Day message yesterday.
He also said that the government has been the "key enabler" to provide the infrastructure but said that labour unions and employers must work with the government.
In addition, he felt that the government's model of tripartism is "constructive" and thanked Lee Kuan Yew for it.
"(This model is) one which takes care of workers' interest, builds a competitive economy and gives all Singaporeans hope for a better future. The model has served us well, and will stand us in good stead to tackle future challenges," he said.
Mr Tan also praised the government's initiatives such as SkillsFuture, which he said will help workers “upgrade and upskill to stay relevant and capitalise on career opportunities in the New Age economy”.
He also praised the CPF tweaks that the government announced earlier this year.
“The recently announced changes to the Central Provident Fund (CPF), including a higher CPF salary ceiling and increased contribution rates for older workers, are also steps that we have systematicallly taken to boost Singaporeans’ retirement savings and incomes,” he said.
However, most Singaporeans do not think the tweaks go far enough to address the fundamental flaws of the CPF. For example, the basic interest rates on the CPF are still too low and there is still no transparency and accountability as to how the CPF of Singaporeans are being taken to use.
Still, the government's belief of helping the elderly increase their retirement savings is by asking them to work longer in their golden years.
“We are looking at ways to help older workers stay actively employed and to build up their retirement nests,” Mr Tan also said.
Mr Tan also said that the labour market will become tighter and said that companies will need to restructure and increase productivity.
However, he said that the government will continue with growing the foreign workforce, albeit at a sustainable level.
“The Government is fully committed to helping companies transform their existing business models, so that they can create better job opportunities for our workers,” he said.
“We will continue to strongly encourage businesses to innovate and strive for productivity improvements and in turn, raise the wages of our workers.”
However, even as Mr Tan showered praises on the government's efforts and claimed that the government has been looking to increase the wages of workers, it has been found
that real wage growth could only have grown by as little as 0.5 percent in the last decade.
In fact, wages have remained largely stagnant for low-income workers for the last 20 years and also for middle-income workers for the last 10 years or so.
As Mr Tan transits into his role to become the Minister for Social and Family Development (MSF), it does not look like there have been significant improvements to the lives of the workers in Singapore, after his helm at the Manpower Ministry.
In fact, his predecessor at MSF, Chan Chun Sing, had previously refused to define a poverty line in spite of Singapore having an estimated 30 percent poverty rate and Mr Tan does not seem likely to rock the boat.
Moreover, with Mr Chan moving to the labour union, NTUC to head it and where the current head Lim Swee Say will move to the Manpower Ministry to replace Mr Tan, it does not look like drastic changes will happen in these agencies.
It will be more of a same old same old. It is likely that policies will be not be improved to enhance the lives of Singaporeans, in terms of their wages and the adequacy of their pension funds.
