The Ministry of Manpower (MOM) has introduced a new financial support scheme for workers who become involuntarily unemployed, encouraging them to re-e
The Ministry of Manpower (MOM) has introduced a new financial support scheme for workers who become involuntarily unemployed, encouraging them to re-enter the workforce. Announced on August 27, this initiative will provide monthly payouts to qualifying jobseekers who actively pursue new employment by applying for jobs, attending career coaching, or participating in approved training programs.
As part of the SkillsFuture Jobseeker Support Scheme highlighted by Prime Minister Lawrence Wong in his National Day Rally, workers earning up to $5,000 monthly before unemployment will be eligible for up to $6,000 over six months, beginning April 2025. MOM emphasized that this assistance will specifically support those who lost jobs due to retrenchment, business closures, or termination for health reasons.
To qualify, Singaporeans must be aged 21 or above, have been employed for at least six of the past 12 months, and live in properties with an annual value below $25,000. Permanent residents will be able to apply for this scheme from early 2026.
The payout structure is designed to incentivize early reemployment, with the initial payout of up to $1,500 tapering down over the six-month period. The monthly payout cannot exceed the individual’s last drawn salary. Additionally, recipients who secure new employment will no longer be eligible for further payments. MOM estimates that this program will serve about 60,000 Singapore residents annually and cost over $200 million.
The scheme, aimed at supporting workers in their job search, complements other social assistance measures like ComCare and the GST Voucher scheme, which assist households in financial distress.
COMMENTS