What NTUC Enterprise’s $50M Support Package Means for You05 August 2020
By now, you may have heard of NTUC Enterprise’s S$50 million support package. Launched in June 2020, it’s meant to help Singaporeans manage the cost of living amid COVID-19.
We recognise that each family is facing unique challenges and has had to adapt differently to the pandemic. That’s why our group of social enterprises has come together to offer practical support to Singaporeans in the widest way possible.
From keeping prices of daily essentials affordable to providing highly subsidised job upskilling, we hope individuals and families can take advantage of these benefits. Especially for working parents with seniors at home, here’s an example of how you could benefit.
Jamie, 33, works full-time at a marketing agency. She lives with her husband, YC and her elderly mother in a 4-room HDB flat. They have a lovely 5-year old daughter, Crystal. During the circuit breaker, YC unfortunately lost his job as a project manager, but is optimistic in getting rehired.
Jamie and Grandma drop off Crystal for her K2 programme at NTUC First Campus’ My First Skool in their neighbourhood. Crystal was eligible to receive 100% fee offset off the net pre-school fees for 6 months under the Bright Horizons Fund Care Package for COVID-19. She was able to receive this support when YC lost his job. Despite the drop in household income, Jamie is relieved that Crystal can still attend pre-school.
Now that Crystal is in class, Jamie and Grandma can have breakfast together at the nearby Kopitiam coffee shop. Jamie has been especially grateful for her mum’s presence and help with Crystal during this trying time. Since it’s Wednesday, coffee is only 50 cents for Merdeka and Pioneer Generation seniors and NTUC Union Members. It’s a small comfort, but comfort nonetheless. They sip their kopi-gaos and plan what to cook for dinner.
Jamie has to take a day of no-pay leave every week. But she appreciates having more quality time with family. She and Grandma head to the supermarket for groceries. They are glad prices have stayed the same for things like rice, cooking oil, soya sauce and even detergent because NTUC FairPrice has frozen prices of 100 essential Housebrand items since March 2019. Jamie’s mum uses her Merdeka Generation card to enjoy a further 3% discount.
Back home, YC is busy taking an online course on Digital Analytics – one of 100 free online courses available till 30 September 2020 for NTUC Union Members. He is also applying for the SGUnited Skills Programme with NTUC LearningHub, which will help him train up for the new job opportunities while providing him with a monthly allowance of $1,200 to tide over this trying period. YC may even want to explore a career in User Experience – a field he has always been interested in.
After dinner, YC and Jamie discuss starting an education fund for Crystal. They also plan to enhance their own insurance coverage so Crystal is financially taken care of, no matter what.
They hear that buying policies such as the Education Fund Insurance via MoneyOwl lets them save 60% of the agent’s commission. Income’s complimentary $50,000 LUV Term Life Insurance coverage comes in handy too, as it provides YC and Jamie with the support to protect their family especially in the midst of the current pandemic. It includes hospital cash benefit in the event of hospitalisation, and protection against death and permanent disability.
WE ARE STRONGER TOGETHER
Like Jamie and her family, these are just some ways you can benefit from the $50 million support package. When times are uncertain, we hope these initiatives do a little to ease your worries and concerns. It’s our way of saying we’re with you, every day.
Want to know what benefits are in store for you? Explore these related initiatives by our social enterprises to enjoy rebates, discounts and privileges.