International Business & Economy No need for retrenchment benefits to be legislated, Lim Swee Say

No need for retrenchment benefits to be legislated, Lim Swee Say

Author

Date

Category

- Advertisement -

Workers’ Party chairman Sylvia Lim asked the government to consider redundancy insurance for employees who face unexpected retrenchments in this uncertain economic climate. Several other Members of Parliament also made similar calls in Parliament in the past week.
Responding to such calls, Minister for Manpower Lim Swee Say said that he does sympathise and empathise with workers who are affected by retrenchment, but that there was no need for retrenchment benefits to be legislated in Singapore.
Mr Lim pointed to a survey by his Ministry which said that companies in Singapore pay retrenchment benefits as a “standard practice”, with 9 in 10 firms doing so.
The Minister said 9 in 10 employees from unioned (as well as non-unionised) companies also receive retrenchment benefits to justify not legislating such labour laws.
“Our unemployment rates are low, our long-term unemployment rates are also low. At the same time, the practice of paying retrenchment benefits is widespread,” the Minister argued.
The Minister preferred the tripartite partners (government, employers and employees) to have the “flexibility to negotiate” retrenchment benefits “rather than prescribing it in the law”.
“This is because different retrenching companies are in different circumstances. And therefore there should not be a one-size-fits-all rule,” he explained.
The Manpower Minister said that his Ministry’s efforts will be focused on getting retrenched workers to “go back to work as quickly as possible”.

Please follow and like us:
Tweet
Share
- Advertisement -

Sexual harassment claim: NUS student says he did not receive proper help

Singapore -- A National University of Singapore (NUS) student, formerly from Tembusu College, has written a lengthy social media post not only about how he was sexually harassed by a former student tutor but also about how, when he tried to...

Biden will be nicer to China than Trump

Joseph Biden, the presumptive next US President, will be friendlier to China than US President Donald , judging by Biden’s statements and cabinet selections. Biden’s more harmonious posture towards China will please leaders of various Asian countries including Singapore Prime Minister...

K Shanmugam: In Singapore, the right to speak freely goes with the duty to act responsibly

Singapore—Speaking at the 16th Religious Rehabilitation Group Seminar at Khadijah Mosque on Monday (Nov 24), K Shanmugam, the Minister for Law and Home Affairs, said that the threat of terrorism has not gone away though its “shape and nature” have changed. Citing...
Please follow and like us:
Tweet
Share
Follow Me
Tweet