Statutory Fund to Financially Support Workers during Corporate Liquidations and Bankruptcies

Ms He Ting Ru asked the Minister for Manpower whether the Ministry will study the feasibility for a statutory fund to provide financial support without means testing to workers of all nationalities during periods of corporate liquidations and bankruptcies.

The Government and tripartite partners have various schemes in place to provide financial support to workers who have lost their jobs, including as a result of their company winding up. These schemes are means-tested and subject to eligibility criteria to ensure accountability and to direct limited public resources to those who need them most.

Local workers who are involuntarily unemployed and actively looking for a job may obtain temporary financial assistance under the SkillsFuture Jobseeker Support scheme. Lower-income households who require financial assistance to meet basic needs may also approach their Social Service Office. Foreign workers may approach the Migrant Workers' Centre set up by the tripartite partners for financial assistance.