Clarification by Senior Minister of State for Ministry of Finance

Mdm Speaker, I beg leave to make a clarification.

Yes, please.

Madam, I thank you for the opportunity to make a clarification on the Pioneer Generation Fund Bill that was passed yesterday in Parliament without amendment. During the Second Reading, Ms Chia Yong Yong told the House she wished to move an amendment to clause 3 of the Bill on the "Purpose of Act". She suggested removing the phrase "them who are now elderly and are or may be in need of", and replacing it with the word "Pioneers" so that there was no confusion whether the benefits of the Pioneer Generation Package need to be means-tested.

Members will recall that in response to Ms Chia's speech and proposal, I had made clear that the Government would not be applying means-testing to the Pioneer Generation Package. Following my clarifications, the House did not agree to her proposed amendments, most likely also due to its very short notice which meant that there was no time to consider its substance and possible implications. Likewise, MOF needed to consider the proposal, given the importance of the Bill, and, as I said in Parliament yesterday, we would do so and, if necessary, introduce a Notice of Amendment.

We have taken a look at the Bill in the short time since and agree that we should refine clause 3 to better convey the intent of the Pioneer Generation Package and avoid any doubt that the Fund could become restricted to providing relief to only the financially needy. We will formulate this amendment and bring it to Parliament when it is opportune to do so, most likely, together with a Bill of an appropriate nature.

Once again, I thank Ms Chia for her thoughtful suggestion and support of the Bill.

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