Latest Singapore News

Retrenchment Benefits Survey 2015

Singapore, January 2017 - Amid softer economic conditions and ongoing business restructuring, 15,580 workers were laid off in 2015 compared to 12,930 in 2014. In line with shorter employment tenures, the eligibility service period for retrenchment benefits was shortened from 3 years to 2 years and took effect on 1 April 2015.
 
The Retrenchment Benefits Survey conducted once every 4 years was brought forward from 2017 to 2016 to cover retrenchments conducted in 2015. The following are the key findings from the “Retrenchment Benefits 2015” report released by the Manpower Research and Statistics Department, Ministry of Manpower:
 
9 in 10 establishments continued to pay retrenchment benefits to eligible employees, even after eligibility service period was shortened from 3 years to 2 years
 
The proportion of establishments which paid retrenchment benefits to eligible employees remained high in 2015 (91%). Large establishments with at least 200 employees (97%) and unionised establishments (100%) were more likely to pay retrenchment benefits.
 
For employees who served less than 2 years and hence not eligible for retrenchment benefits, 2 in 3 establishments still paid retrenchment benefits to them.
 
 
retrenchment benefits survey 2015 pic2
 
Proportion of small establishments with 10 to 24 employees which paid retrenchment benefits was comparable to those with 25 to 199 employees
 
For the first time, the survey was expanded to include small establishments with less than 25 employees (10 to 24 employees). The proportion of these small establishments which paid retrenchment benefits was as high as those with 25 to 199 employees (both at 88%).
 
Majority of establishments continued to pay 1 month of salary per year of service, although more were giving out lump sum payments
 
A vast majority (83%) of establishments paid retrenchment benefits by years of service in 2015, with more than half paying 1 month of salary per year of service. Large and unionised establishments tended to pay higher retrenchment benefits.
 
The proportion of establishments which paid retrenchment benefits in lump sum increased in 2015 (17%, up from 7% in 2012). The lump sum quantum was typically 1 to 2 months of salary.
 
Conclusion
 
The proportion of establishments giving retrenchment benefits remained high. From 1 January 2017, it will be mandatory for employers to notify MOM of retrenchment exercises within 5 working days[1]. This will enable Workforce Singapore (WSG) and our tripartite partners[2] to better assist retrenched locals in finding alternative employment and relevant training. Together with SkillsFuture and Adapt and Grow initiatives[3], MOM will help them enhance their employability and seize new job opportunities.   


 
FOOTNOTE
1. Employers who retrench five or more employees within any 6 month period beginning 1 Jan 2017 will have to notify MOM. The notification has to be done within 5 working days after they notify the affected employees. More information can be found at http://www.mom.gov.sg/notify-retrenchment.
 
2. The Taskforce for Responsible Retrenchment and Employment Facilitation - led by WSG and comprising representatives from the Ministry of Manpower (MOM), National Trades Union Congress (NTUC) and NTUC’s e2i (Employment and Employability Institute) – was set up in March 2016 to provide timely and effective assistance to retrenched individuals and ensure that employers treat their workers fairly if retrenchment is inevitable. Individuals affected by, or who think they may be at risk of, retrenchment can also proactively approach WSG or e2i for assistance. More information can be found at http://www.wsg.gov.sg/career-services.html.
 
3. Adapt and Grow was announced by Minister Lim Swee Say at the MOM Committee of Supply Debate 2016, and brings together a package of enhanced employment support initiatives, including the expansion of Professional Conversion Programme (PCP) to support those switching careers, and enhancement of the Career Support Programme (CSP) to help displaced workers secure a quality job with employers. More details can be found at http://www.wsg.gov.sg/adapt-and-grow.html.
 

Add comment

Emails are optional and for tracking replies. Names are unique; get yours today with a comment!


Security code
Refresh

La Daily

Asia Security Summit wraps up in Singapore
Asia Security Summit wraps up in Singapore

  One of Asia's biggest security conferences was held in Singapore.   Topping [ ... ]

Read more la
Prince Harry arrives in Singapore for charity polo match
Prince Harry arrives in Singapore for charity polo match

  Prince Harry arrives in Singapore ahead of the Sentebale Royal Salute Polo Cup which [ ... ]

Read more la
Walt Disney collaborates with Singapore Tourism Board
Walt Disney collaborates with Singapore Tourism Board

13 April 2017, Singapore – Singapore Tourism Board (STB) and The Walt Disney Company Southeast Asi [ ... ]

Read more la
S. Korea, Singapore agree to send strong message to N. Korea over threats
S. Korea, Singapore agree to send strong message to N. Korea over threats

  South Korea and Singapore have reaffirmed that North Korea's provocations pose a s [ ... ]

Read more la
Price of water to go up by 30% over 2 years
Price of water to go up by 30% over 2 years

Water prices will be revised from 1 July 2017. Tariffs will go up in two steps, in July 2017 and in  [ ... ]

Read more la
Road Tax Discs to be phased out from 15 Feb 2017
Road Tax Discs to be phased out from 15 Feb 2017

As announced in August last year, the Land Transport Authority (LTA) will stop issuing physical road [ ... ]

Read more la
Singapore welcomes its Terrexes home from Hong Kong
Singapore welcomes its Terrexes home from Hong Kong

  On 30 Jan 2017 at 1440hrs, the Singapore Armed Forces (SAF) welcome home its nine Terrex I [ ... ]

Read more la
Company director fined $1.4m for importing duty-unpaid soju
Company director fined $1.4m for importing duty-unpaid soju

A company director was sentenced by the State Courts on 20 January 2017 to a fine of $1,400,000 or i [ ... ]

Read more la
Reciprocal Road Charge on foreign-registered vehicles from 15 Feb 2017
Reciprocal Road Charge on foreign-registered vehicles from 15 Feb 2017

  From 15 February 2017, all foreign-registered cars will have to pay a Reciprocal Road Char [ ... ]

Read more la
MOT, PSA to test self-driving trucks soon
MOT, PSA to test self-driving trucks soon

Singapore, January 2017 - The Ministry of Transport (MOT) and PSA Corporation have signed agreements [ ... ]

Read more la
E-scooters not allowed on Roads and more rules passed in Parliament on 11 Jan 2017
E-scooters not allowed on Roads and more rules passed in Parliament on 11 Jan 2017

- New Rules and Code of Conduct for Cycling and the Use of Personal Mobility Devices
- Stiffer Penalt [ ... ]

Read more la
​NTU & German scientists turn memory chips into processors to speed up computing tasks
​NTU & German scientists turn memory chips into processors to speed up computing tasks

A team of international scientists have found a way to make memory chips perform computing tasks, wh [ ... ]

Read more la
Retrenchment Benefits Survey 2015
Retrenchment Benefits Survey 2015

Singapore, January 2017 - Amid softer economic conditions and ongoing business restructuring, 15,580 [ ... ]

Read more la
Collision of Container Vessels Wan Hai 301 & APL Denver in Johor Straits
Collision of Container Vessels Wan Hai 301 & APL Denver in Johor Straits

UPDATES, 5 JAN 2017, 1700 hrs: Collision of Container Vessels WAN HAI 301 and APL DENVER
 
The M [ ... ]

Read more la

verychio.com-drag-and-drop-editor

La Latest

Stunning footage shows Aurora Borealis from space

  Footage from the International Space Station vividly shows the Aurora Borealis or  [ ... ]

Read more la
Fingertip payment becomes reality

  A shop at a UK university has become the first in the world to accept fingertip  [ ... ]

Read more la
Trump struggles to pronounce ‘Namibia’

  President Trump mispronounced ‘Namibia’ while addressing African leaders [ ... ]

Read more la
S. Korean President receives Global Citizen Award

  That annual award is given to individuals who best exemplify global citizenshi [ ... ]

Read more la
Trump dominates Emmys

  Although he wasn't there in person, President Trump's presence was certainly f [ ... ]

Read more la
AI-powered robots to replace 30 pct. of jobs by 2030

  Many fear the rise of artificial intelligence could have adverse effects in th [ ... ]

Read more la
Samsung Galaxy Note 8 preorders top 800,000 in South Korea

  Domestic preorders for Samsung's Galaxy Note 8 have topped eight-hundred-thousan [ ... ]

Read more la
NASA's Cassini space probe's historic finale

  The Cassini probe has burst into flames after one of the most successful mission [ ... ]

Read more la

La Entertain

Taylor Swift wins sexual assault case against ex-DJ

  Singer Taylor Swift wins a sexual assault case against former radio DJ David M [ ... ]

Read more la
K-Pop star T.O.P gets suspended sentence for marijuana use

  One of the biggest K-pop artists in Korea is set to spend time behind bars for use [ ... ]

Read more la
Song Joongki Song Hyekyo to be married in Oct17; baby made-in-bali?

  Two of Korea's best-loved stars have announced they're tying the knot.   So [ ... ]

Read more la
Jay Chou's son looks like mother or grandmother?

On 20 June 2017, Jay Chou confirms the birth of his second baby, a baby son, with a good effort on h [ ... ]

Read more la
Edison Chen welcomes daughter Alaia Chen with wife Qin Shupei

Strongest player in Asia, Edison Chen, seems to have finally stopped playing... we think.... to sett [ ... ]

Read more la
Hannah Quinlivan gives birth to son for Jay Chou?

Hannah Quinlivan is heavily pregnant with Jay Chou's second baby - a baby son.   Media foreca [ ... ]

Read more la
Wallace Huo grows longer with Zhou Xun at Shanghai Film Festival 2017

At the opening of the Shanghai Film Festival on 17 Jun 2017, long-time-no-see Wallace Huo and co-sta [ ... ]

Read more la
Batman Adam West dies aged 88

  Actor Adam West best known for his leading role in the 1960's TV series Batman has [ ... ]

Read more la