Channel NewsAsia
Updated: 02/21/2014 22:03 | By Channel NewsAsia

NTUC welcomes move to support economic transformation

NTUC welcomes move to support economic transformation


NTUC welcomes move to support economic transformation

SINGAPORE: The labour movement has welcomed the government's move to support Singapore's economic transformation and expressed hope that companies will aggressively tap the various schemes to improve productivity.

It said it is key to ensuring that "we continue to have good jobs for our workers".

In its response to Budget 2014, the National Trades Union Congress (NTUC) said: "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."

NTUC also praised the Pioneer Generation Package, which it said will go a "long way in helping many retired workers who have contributed much to make Singapore where it is today".

It added: "In particular, the package's emphasis on alleviating medical cost is targeted at where we believe help is needed most." 

- CNA/xq

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