Today Online<\/em><\/a>, this was raised by Sembawang GRC – Mr Lim Wee Kiak where he said that while he understands the importance of contributions to the national savings scheme that is the Central Provident Fund (CPF) but during this time, he suggested stopping it for the next three to six months to reduce the manpower cost of employers and to increase the monthly take-home pay of salaried workers.<\/p>\nHe also suggested stopping the mandatory MediSave contributions of self-employed persons, including taxi drivers.<\/p>\n
\u201cTogether with the enhanced Job Support Scheme, this will further cushion employers from manpower cost. For the employees and self-employed persons, it will ease their cash flow,\u201d he said.<\/p>\n
Under the Job Support Scheme announced in February\u2019s Budget, the Government provides a wage subsidy to employers in certain industries to help them retain workers who are Singapore citizens and permanent residents.<\/p>\n
On Monday, this was enhanced such that businesses in all industries will have 75 per cent of their resident employees\u2019 wages subsidised for the month of April.<\/p>\n
So what do you think? Do you think it’s a good idea for the government to pause the CPF at this time?<\/p>\n","protected":false},"excerpt":{"rendered":"
During this time, there are many suggestion on how the government can help out…<\/p>\n","protected":false},"author":2,"featured_media":5917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[65],"tags":[915],"yoast_head":"\n
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During this time, there are many suggestion on how the government can help out all the people and one of the way is for the Government to consider a short-term stoppage for contributions to the Central Provident Fund (CPF). This is a one of the suggestions raised by Members of Parliament (MPs) to buffer support for people and businesses affected by the Covid-19 pandemic.<\/p>\n