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Committee to be formed to study how to improve ElderShield scheme: PM Lee
THE Ministry of Health (MOH) will form a committee to study the enhancement of the ElderShield scheme, said Prime Minister Lee Hsien Loong at the National Day Rally on Sunday.
According to an English translation of Mr Lee's speech in Mandarin, he pointed out the need to strengthen the scheme.
The ElderShield insurance scheme, which was introduced in 2002, provides basic protection for those aged 40 and above with severe age-old disability.
The scheme does not cover everyone yet, and its payouts are limited to six years, which may not be enough, Mr Lee said.
"We hope that ElderShield will be able to cover more people, provide better protection and be kept affordable," he added.
"With the enhanced ElderShield, we will pretty much have all the components of our social safety net in place."
Since the scheme was started, more than 7,000 people have benefited from it, said Mr Lee.