1、 releasecpfsavingsforhardshipneeds releasecpfsavingsforhardshipneeds王彼得bypeterongibelievemoreandmorepeopletodayarecryingout”moneynoenough.”having”notenoughmoney”tospendisbutasmallmatter.whatismoretroublingishavingnomoneytomeetdailyexpenses.imagineafamilythatisshortonfoodandthebasicnecessities,andthe

2、breadwinneriscompelledtoturntoloansharksformoney.couldthishappeninsingapore?iamafraidtheanswerisyes.andasthenumberofjoblessincreases,moreandmorefamiliesarelikelytomeetthisfate.notlongago,mrlimsweesay,ntucdeputysecretary-general,projectedthattherateofunemploymentwouldrisetopercentbeforetheendoftheyea

3、r,andreachpercentnextyear.glion,thenumberofunemployedcouldexceed,.unemploymentaffectsboththemenandwomen,andtheyoungandold.butthemostvulnerablearethoseagedandabove.likelytobethesolebreadwinners,thesemiddle-agedworkershailfromwhite-andblue-collarjobsanddifferenteducationalbackgroun

4、d.generally,whenwomenworkersareretrenched,familiesgettoloseoneoftheirincomeearners.whenyoungworkersarelaidoff,mostofthemwilljustfallbackontheirparentsforfinancialsupport.andwhenworkersabouttoretirelosetheirjobs,theycandigintotheircpfsavings(oncetheyreachwithdrawalage)totidethemthrough.however,whenme

5、nagedandaboveareaskedtoquit,mostofthemrunintoadeadend.menagedandabovearemostvulnerablebecausetheyareafavouritetargetforretrenchment.theyarealsolikelytobeshunnedinanyrecruitmentexercisebecausetheirsalaryisgenerallyhigherthanyoungnewrecruitsduetotheirlongerlengthofservice.managementrealisesthattheycou

6、ldlowercostsiftheyreplacetheseolderworkerswithyoungerbutlower-salariedones.olderworkersarealsolikelytohavegreaterfinancialcommitments-suchascarandmortgageloans,childrenstillattendingschooland,forsome,elderlyparentstolookafter.ahumanresourcemanagerfromacruisecompanytoldmerecentlythatshedetectedadespe

7、ratesenseof”hungerandthirst”whenthiscategoryofworkersshowedupforjobinterviews.shesaid:”mostofthemhavebeenlookingforjobsforseveralmonths.someofthemareevenpreparedtoaccepthalfofwhattheyusedtoearnbecausetheyunderstandthat,withoutanyjob,theywouldhavenoincome.eveniftheyhadsomesavings,thesewouldbedepleted

8、inafewmonthstime.”nevertheless,hercompanysstandistorecruitthemostsuitablecandidate-notthepersonwhoiswillingtoworkatthelowestpay-forthejob.so,eventhoughsheempathisedwiththecandidates,shehadtorejectthem.themanagersobservationshavenotbeenoffthemark.veryfewsingaporeanshaveenoughcashsavings.iftheylostthe

9、irjobs,theywouldfindthemselvesinatightspotwithinafewmonths.well,perhapsthesalariedworkersarenottobeblamedforbeingcaughtinthissituation.nottoolongago,itwascommonsocialpracticeforsingaporeanstogoforanoverseasholidayatleastonceayear.forthosewithmorecash,theywoulddreamofowningacarorahouse.thereisaneveng

10、reaternumberofsingaporeanswhodonotseetheneedtosavebecausetheyarealreadycontributingtothecpf.i,too,oftenheardsingaporeanscomplainthattheyfounditdifficulttosavebecauseofthehighcostofliving.so,whentheeconomysuddenlytookaturnfortheworse,manysingaporeanswerecaughtunprepared.eveneconomicanalystswerefeelin

11、goptimisticthat”tomorrowwillbebetter”justbeforejulylastyear,whenthefinancialcriseshittheregion.nomatterwhatthecause,thecurrenteconomicsituationhasledtotheemergenceofalargenumberofunemployedsingaporeans,whoarebecomingincreasinglyanxiousnotonlybecausetheyhavenojobs,butalsobecausetheyhaveputtheirfamili

12、esindirestraits.whatcanbedone?someofthemarepreparedto”lowertheirsocialstatus”andselltheircarandproperty.butpriceshavedropped.worsestill,itisdifficulttofindabuyeratthisjuncture.forhdbpropertyowners,buyingandsellingofflatsarefurtherrestrictedbygovernmentregulations.someoneoncetoldmethatsingaporeansuse

13、dtobe”property-richbutcash-poor.”today,theyareequallypoorinbothaspects.recently,thenewspapershadreportedthatmanysingaporeanstriedtomakeendsmeetbyterminatingtheirinsurancepolicies,forgoingtuitionclassesfortheirchildrenandevenendingmaidscontracts.butwhatabouttheotherrunninghouseholdexpenses-thedailyme

14、als,childrensschoolfees,electricitybillsandtransportcosts?iamsurenoonewillobjectifwesuggestthatsomethingbedonetohelpthesefinancially-strappedfamilies.theissueis:howdowehelpthem?unemploymentsubsidies?wehavelearntfromtheexperiencesofothercountriesthatthisformofsocialwelfaredoesnotwork.itnotonlyputsastrainonthecountryslimitedresources,butalsodoesnothingtoencouragetheunemployedtolookforajob.sowehavet