Here a better idea than Sylvia Lim unemployment insurance!

[tomychua]

Article Source: http://goo.gl/1XcOcS

PSSST, SYLVIA…HERE’S A BETTER IDEA THAN YOUR UNEMPLOYMENT INSURANCE!
Author: Tay Leong Tan

Would an unemployment insurance work?

In this session of the Budget debates in Parliament, Worker’s Party chairman Sylvia Lim suggested that an unemployment insurance should be introduced by the government to protect workers whose jobs may become redundant, through no fault of their own.

“One model could involve requiring workers resident in Singapore and their employers, to each contribute a very small percentage of the employee’s monthly salaries towards a fund. The fund should be geared towards helping workers who undergo involuntary unemployment” suggested Lim.

This sounds a little like how our CPF operates. Except that it would be paid to a private insurer and the insurer would be making payouts in the event a staff is made redundant.

Here a better idea to the unemployment insurance: http://goo.gl/1XcOcS

 

[Leongsam]

I've never come across such a dumb idea in all my life.

Why should I be paying premiums in case some other idiot loses his job?

The best insurance against unemployment is save for a rainy day instead of buying Beemers, iPhones, LV bags, booze and whores.

 

[shittypore]

I've never come across such a dumb idea in all my life.

Why should I be paying premiums in case some other idiot loses his job?

The best insurance against unemployment is save for a rainy day instead of buying Beemers, iPhones, LV bags, booze and whores.

Sinkies deserves what they voted for, PAP and the dumb WP.

 

[red amoeba]

I've never come across such a dumb idea in all my life.

Why should I be paying premiums in case some other idiot loses his job?

The best insurance against unemployment is save for a rainy day instead of buying Beemers, iPhones, LV bags, booze and whores.

Come to think of it, you are also paying premium in case some one dies or fall ill before you do.

 

[frenchbriefs]

unemployment insurance is known as welfare isnt it?must we reinvent the wheel?just wondering are we the only country in the world with no welfare for the unemployed?

 

[mojito]

You no job is your problem. Not my problem, not your neighbour problem. Cannot be ask your neighbours to pay for your lack of drive and ambition. You work, you eat. It is as simple as that.

 

[frenchbriefs]

You no job is your problem. Not my problem, not your neighbour problem. Cannot be ask your neighbours to pay for your lack of drive and ambition. You work, you eat. It is as simple as that.

thats the problem,thats why this country have no creativity or innovation,sometimes to have nobel prize winners,award winning authors,world class musicians,rock bands like dire straits,roots reggae musicians,bossa nova and jazz greats,or apple startups u gotta have a army of unemployed hipsters and a large supply of mauwie wowie.

 

[JohnTan]

Why would you be losing your job in the first place? Are you lazy, incompetent, too expensive, too old, skiving?

 

[jw5]

Why would you be losing your job in the first place? Are you lazy, incompetent, too expensive, too old, skiving?

Maybe piak and piak the wrong person?

 

[blueRad]

Article Source: http://goo.gl/1XcOcS

PSSST, SYLVIA…HERE’S A BETTER IDEA THAN YOUR UNEMPLOYMENT INSURANCE!
Author: Tay Leong Tan

Would an unemployment insurance work?

In this session of the Budget debates in Parliament, Worker’s Party chairman Sylvia Lim suggested that an unemployment insurance should be introduced by the government to protect workers whose jobs may become redundant, through no fault of their own.

“One model could involve requiring workers resident in Singapore and their employers, to each contribute a very small percentage of the employee’s monthly salaries towards a fund. The fund should be geared towards helping workers who undergo involuntary unemployment” suggested Lim.

This sounds a little like how our CPF operates. Except that it would be paid to a private insurer and the insurer would be making payouts in the event a staff is made redundant.

Here a better idea to the unemployment insurance: http://goo.gl/1XcOcS

FLOP and FSAAM are merely parroting govt's views and they cannot come up with constructive or fresh arguments. Even PAP apologist Calvin Cheng makes better arguments.

Let me break down FSAAM's main answer and retort to it.

Here’s a better idea: instead of paying an insurance company to protect you against unemployment, why not save the money in your own bank instead?

This answer is no different a PAP MP who said that the best way to combat rising medical cost is not to fall sick. Not everyone has the luxury of saving money. The low income certainly can't do that and some middle class working adults with high liabilities like children, aged parents and mortgage can't always put aside money. Putting aside savings is not always something everyone can do.

The whole point of insurance is to protect someone from unforeseen events. In the case of unemployment insurance, it is to protect a person from involuntary unemployment, which can be sudden and unexpected. With UI, that person can have some form of income to fall back on to meet his liabilities while looking for another job.

Then work hard on your deepening/widening your skills so that you can get another job again easily should you ever be actually made redundant.

This is the trite argument by the PAP to constantly upgrade yourself. Upgrading yourself is important to remain relevant but what happens if your industry is facing a slump? If you were in the manufacturing industry and all the upgrades a worker do is mainly for manufacturing industry, when manufacturing industry face a slump, all the upgrades that you do is useless if you cannot work in the same industry.

To have a skillset needed to switch to another industry certainly takes more than a 5 day course at WSQ. It takes some time to learn the required skillset to switch to another industry and a working adult might not have the luxury to take a few months off full time to learn the required skillset if his liabilities are high.

UI can incredibly useful as they can use the monthly income to lower their liabilities while they retrain full time or look for another job. If the overly kiasu PAP is so concerned about abuse, ensure that the monthly stipend can only be used for upgrading courses.

 

[winnipegjets]

I've never come across such a dumb idea in all my life.

Why should I be paying premiums in case some other idiot loses his job?

The best insurance against unemployment is save for a rainy day instead of buying Beemers, iPhones, LV bags, booze and whores.

If you don't want to pay, then you move lah.

 

[jw5]

If you don't want to pay, then you move lah.

He already moved, no need to pay but continue to piak..............and piak...................

 

[eatshitndie]

extremely difficult for a legit insurance company to insure sinkies' employment in the sg labor market. for fly by night providers, there'll be much fine print and caveat emptor to allow would be scammers to wriggle out of insurance contracts when sinkie reaches 36 and loses his job to a cheaper ft. it will create a whole new segment of insurance fraud, and there will be more kpkb from sinkies losing both jobs and savings. the road to hell is laid with good (but stupid) intentions.