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Budget 2020: S$31m in annual spend allotted to support employers of PwDs
MORE help is at hand to support employers of persons with disabilities (PwD) through a new Enabling Employment Credit (EEC) scheme.
The EEC will replace the current Special Employment Credit (SEC) and Additional SEC (ASEC) for PwD employment, which were extended at the last Budget until end 2020, Deputy Prime Minister and Finance Minister Heng Swee Keat said in his Budget speech on Tuesday.
The SEC and ASEC currently provide wage offsets for employers hiring Singaporean PwDs earning below S$4,000 per month.
In 2018, more than 5,700 employers hiring over 8,600 Singaporean PwDs benefited from SEC, Mr Heng said, noting that the government has received good feedback on the schemes.
The EEC will be available for five years from 2021 to 2025 at a cost of about S$31 million per year.
"To ensure that the EEC remains helpful for PwDs to find employment and remain in the workforce, the government will review the EEC after two years and make adjustments if necessary," Mr Heng said.
In addition, three funds that provide targeted help for the elderly and the lower-income will also get top-ups.
Mr Heng said the government will provide top-ups of S$750 million to the ElderCare Fund, S$500 million to the ComCare Fund and S$200 million to the MediFund.
He said these funds provide a safety net for the low income by helping them to meet their daily expenses and healthcare fees.
For more Budget 2020 stories, visit bt.sg/budget20.