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




- 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”.Follow us on Social Media

Send in your scoops to 

- Advertisement -

Netizens go to town and blast SPH CEO over his ‘take umbrage’ comment

Update: Mr Ng issued an apology on the subject on Saturday (May 8). He told The Straits Times: "I had stood up for SPH Media's long-cherished editorial integrity and will continue to do so. Being a direct and blunt-speaking person, I...

Head of M’sia-S’pore workers’ group asks if JB workers can serve 21-day SHN at budget hotels

Johor Bahru—In the light of a recent increase in Covid-19 infections, Singapore announced that it is extending Stay-Home Notices (SHN) from 14 days to 21 days for new arrivals to the country starting from Friday (May 7). The only exception will be...

Woman makes her temperature high to test if she can enter shopping malls in S’pore

Singapore – A woman conducted a social experiment by raising her temperature to see if she can still enter shopping malls despite the thermal scanner alarm going off. News and media company Shout uploaded a video on Facebook on Tuesday (May 4)...
Follow us on Social Media

Send in your scoops to