Economy & business — Topics

1 Apr 2019

CPF Members with and without Basic Retirement Sum in their Retirement Accounts on Reaching 55 in Last Three Years

Assoc Prof Walter Theseira requested data on CPF members turning 55 in 2016–2018 who set aside the Basic Retirement Sum, disaggregated by gender and housing type as a proxy for household income.
Ms Anthea Ong asked for the number and percentage of inactive CPF members broken down by gender, the percentage without the Basic Retirement Sum when they turned 55 in the last three years, and the difference in CPF balances between inactive men and women.
Mrs Josephine Teo noted that Basic Retirement Sum attainment has improved over time, narrowed the gap between men and women, and varies by housing type, with private property owners having the highest attainment and owners of smaller HDB flats the lowest.
She added that drawing conclusions from economically inactive members is difficult as they may have other means of support, but they can use voluntary top-ups or CPF transfers from family to save through the CPF system.

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1 Apr 2019

Extension of Fresh Start Housing Scheme to Bigger Flats for Big Families

Murali Pillai asked whether the Fresh Start Housing Scheme could be extended to allow larger families with three or more children to purchase bigger short-lease flats.
The Fresh Start Housing Scheme currently offers short-lease 2-room Flexi flats to second-timer families with young children in public rental flats, along with a housing grant to make ownership more affordable.
Lawrence Wong explained that many eligible families already struggle to afford 2-room Flexi flats despite the shorter leases and grants, making larger flats even less feasible.
He emphasized the need to encourage home ownership in a sustainable way without overextending families' finances, which limits the expansion to bigger flats.
The response highlighted the government's focus on balancing affordability and support for vulnerable families while maintaining fiscal prudence.

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1 Apr 2019

Criteria for Tender Evaluation under Price Quality Method Framework to Tap on Construction Productivity and Capability Fund for Public Sector Construction Projects

Murali Pillai asked whether BCA can revise the Technology Adoption and Workforce Development Indexes, which currently rely solely on how much tenderers use the Construction Productivity and Capability Fund, to ensure the Fund is only tapped when necessary.
Lawrence Wong explained that under the Price Quality Method, 10% of the evaluation score assesses contractor productivity, primarily based on past project track record, with a minor weight given to CPCF scheme uptake as a proxy for productivity investments.
BCA will continue reviewing and updating the evaluation criteria, including exploring other suitable indicators.

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1 Apr 2019

Medical Tourism Receipts for 2015 to 2018

Assoc Prof Daniel Goh Pei Siong requested annual medical tourism receipts from 2015 to 2018 from the Minister for Trade and Industry.
Chan Chun Sing responded that his Ministry and agencies lack comprehensive data on overseas visitors' medical expenditure in Singapore.
Chan Chun Sing also stated that medical tourism is not part of Singapore's tourism strategy.

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1 Apr 2019

Time Limit for Telecommunications Companies to Complete Porting of Telephone Numbers

The time limit for porting mobile telephone numbers is one working day, while fixed-line numbers for consumers must be ported within five working days, with longer timelines possible in cases like switching fibre broadband providers.
If porting takes longer than expected, subscribers continue to receive services and are charged by their outgoing operator, but they can seek recourse from the operator for bill adjustments or waivers.
The Info-communications Media Development Authority (IMDA) may intervene to protect consumer interests if issues arise during the porting process.

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1 Apr 2019

Attracting Local Workers in Senior Care Industry

Based on 2018 data, 40% of the 12,000 workers in the Long Term Care sector were locals.
The government is enhancing job attractiveness by raising awareness, providing training, and increasing salary competitiveness through partnerships with agencies like AIC, WSG, and e2i.
Specific initiatives include the Community Care Traineeship Programme, on-the-job training support, and the Community Care Manpower Development Award to support skill development.
MOH has provided funding to raise wages, resulting in a 30% aggregate increase from 2012 to 2017, and plans to continue efforts to attract more locals.

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1 Apr 2019

Productivity Extraction Factor for Fare Revision Framework to Consider Operating Profits from Retail Operations of Public Transport Operators

Dennis Tan Lip Fong inquired whether the Productivity Extraction Factor in the fare revision framework includes operating profits from retail operations of public transport operators.
Khaw Boon Wan confirmed that the factor measures productivity gains via changes in value-add per employee, which encompasses all operating profits, including those from retail operations.
The framework is designed to share productivity gains with commuters through lower fare adjustments.

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1 Apr 2019

Genuine HDB Upgraders Looking to Buy Private Property but Hampered by Transitional Taxes

Ms Foo Mee Har raised concerns about genuine HDB upgraders facing difficulties in buying private property due to the Additional Buyer's Stamp Duty (ABSD).
Minister Lawrence Wong explained that ABSD is designed to moderate demand for private residential properties and that any changes would affect the overall market.
The government monitors the property market closely and will take necessary measures to ensure stability and align prices with economic fundamentals.
The Minister emphasized that such measures ultimately benefit more Singaporeans, including HDB upgraders.

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1 Apr 2019

Interest Earned Under CPF LIFE Cannot Be Bequeathed

Mr Png Eng Huat raised questions about the number of CPF members who have forgone interest, the total amount deposited into the Lifelong Income Fund, and whether members are aware that CPF LIFE interest cannot be bequeathed.
Mrs Josephine Teo explained that CPF LIFE provides lifelong monthly payouts by pooling interest into the Lifelong Income Fund, ensuring members do not outlive their savings, and clarified that the pooled interest is not "forgone" as it supports future payouts.
She emphasized that all CPF LIFE premiums are fully returned to members via payouts or bequest, and any unused premium is refunded to nominees, with this clearly communicated in CPF documents and services.

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1 Apr 2019

Impact of Inclusion of Capital Income on Singapore's Gini Coefficient

Louis Ng Kok Kwang asked for the Gini coefficient over the past 10 years with capital income included, whether its inclusion would affect the coefficient, and if the Ministry would start including it in official reports.
The Second Minister for Finance explained that Singapore currently measures the Gini coefficient using household income from work due to the challenges and measurement errors in collecting self-reported non-work income.
The Minister noted that while other OECD countries include capital income, Singapore prioritizes timely data and targeted social support, though the government continues to explore better methods for measuring income inequality.
Louis Ng clarified that Singapore already includes capital income in household expenditure surveys every five years and questioned why it is not done annually, to which the Minister responded that such data collection remains difficult and is not part of the regular Gini calculation.
The debate highlighted ongoing considerations about improving income inequality metrics while maintaining the current approach of focusing on work-based income for official Gini reporting.

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1 Apr 2019

Low-income Parents who Sell Flats Co-owned with Children so Children Can Buy Flats in Their Own Names

Murali Pillai asked if HDB could consider the income of children when granting concessionary loans to low-income parents who sell co-owned flats to let children buy homes in their own names.
The Minister clarified that HDB and banks only assess the income of the actual borrowers for housing loans, as they are responsible for mortgage repayments.
Parents are advised to right-size to smaller flats within their budget for long-term sustainability, rather than relying on children to service multiple mortgages.
HDB will consider flexibility and extend loans on a case-by-case basis if sales proceeds are insufficient for a right-sized unit.
The Minister encouraged families to approach HDB directly to explore options tailored to their unique circumstances.

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1 Apr 2019

More Help for PMETs Retrenched in 2018

Mrs Josephine Teo highlighted that 5,400 local PMETs were retrenched in 2018, the lowest since 2014, with 31,500 PMET vacancies available and low structural unemployment at 0.8%.
Around 90% of retrenching establishments paid retrenchment benefits, with over 70% meeting the recommended guideline of at least two weeks' salary per year of service, and nearly two-thirds of retrenchments were in restructuring sectors like wholesale trade and financial services.
The Adapt and Grow initiative placed about 17,000 PMETs in jobs in 2018, nearly double the 2016 figure, with ongoing support including extended Career Support Programme and increased Professional Conversion Programmes for vulnerable groups.

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1 Apr 2019

Impact of Hyflux’s Recent Challenges on Singapore's Water Supply

PUB has robust safeguards in place under the Public-Private Partnership (PPP) model and is operationally capable to take over the Tuaspring desalination plant if needed, ensuring Singapore’s water security is not compromised.
PUB issued a default notice to Tuaspring Pte Ltd due to operational and financial failures, and will acquire the plant at zero cost, which is a favourable outcome for the company and will not disadvantage investors.
The government will not use taxpayers’ money to bail out Hyflux investors, as financial losses are part of investment risks, and proceeds from any asset sale will follow legal priority orders (e.g., to secured creditors first).

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8 Mar 2019

Supplementary Supply (FY 2018) Bill

The Second Minister for Finance explained that the Supplementary Supply Bill for FY 2018 seeks to authorize additional government expenditure beyond the amounts originally approved in the Supply Act 2018, as required by the Constitution.
The additional sums were approved by the House in the Supplementary Estimates of Expenditure for the financial year from 1 April 2018 to 31 March 2019.
The Bill was moved for a Second Reading, passed, and subsequently read a Third Time and passed.

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8 Mar 2019

Supply Bill

The Second Minister for Finance introduced the Supply Bill to authorize expenditures from the Consolidated Fund and Development Fund for the financial year 1 April 2019 to 31 March 2020, as required by the Constitution.
The Bill includes Heads of Expenditure and sums approved in the Main and Development Estimates of Expenditure for the specified period.
The Minister moved for the Bill to be read a Second time, which was agreed to by the House.
The Minister subsequently moved for the Bill to be read a Third time, which was also agreed to.
The Supply Bill was passed, empowering the Minister to issue warrants for authorized expenditures.

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8 Mar 2019

Committee of Supply – Total Sums for Main Estimates, Development Estimates and Resolutions

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8 Mar 2019

Committee of Supply – Heads B, C, D, E, F, G and Z

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8 Mar 2019

Estimates of Expenditure for The Financial Year 1 April 2019 to 31 March 2020

The Committee of Supply met for the 7th Allotted Day to review and consider the Estimates of Expenditure for the financial year from 1 April 2019 to 31 March 2020.
Proceedings were initiated with the formal reading of the Order for consideration, presided over by the Speaker in the Chair.
The debate focused on the examination of government spending proposals and allocations for the upcoming fiscal year, marking a key parliamentary scrutiny process.

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7 Mar 2019

Fire Hazards Posed by Use of Lithium-ion Batteries for Electric Bicycles, PMDs and Electric Devices

Assoc Prof Daniel Goh asked if lithium-ion batteries used in electric bicycles, PMDs, and other devices should be designated as controlled goods under the Consumer Protection (Safety Requirements) Regulations to address rising fire incidents from charging.
Minister Chan Chun Sing responded that testing should focus on the entire device like PABs and PMDs rather than individual components, as they face harsher conditions, and highlighted existing UL2272 and EN15194 standards enforced by the Land Transport Authority for fire and electrical safety.
Enterprise Singapore oversees product safety for household appliances under the Consumer Protection (Safety Requirements) Regulations and conducts post-market testing, while also encouraging consumers to buy from reputable sources and avoid overcharging or tampering with devices.

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7 Mar 2019

Committee of Supply Reporting Progress

The Leader of the House requested consent to report progress and adjourn the debate, which was granted.
The Chairman formalized the resolution to report progress and resume the sitting the next day.
Grace Fu Hai Yien formally reported that the Committee of Supply had made progress on the 2019/2020 Estimates of Expenditure.
The Deputy Speaker acknowledged the report, confirming the adjournment until the next day.

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