Wednesday, 3 September, 2014

Published February 21, 2014
SG Budget: NTUC hopes govt will review CPF contribution rates

Diana Chia, President, National Trades Union Congress - PHOTO: SPH


"In response to the Budget 2014 announced, the Labour Movement welcomes the announcement to support our economic transformation and we hope that companies will aggressively tap on the various schemes to improve productivity. This is key to ensuring that we continue to have good jobs for our workers.

"We are heartened that the Government has heeded our call to enhance CPF contribution rates as this will help workers save more for retirement and for healthcare expenditure. In particular, we are happy that the workers' contribution will go into the Ordinary Account. We hope that the Government will at some stage, do a review of the existing CPF contribution rates.

"The Pioneer Generation (PG) Package will go a long way in helping many retired workers who have contributed much to make Singapore where it is today. In particular, the PG Package emphasis on alleviating medical cost is targeted at where we believe help is needed most."

- Diana Chia, President, National Trades Union Congress