Secretary of Labor Josephine Teo announced today (March 3) that the government will launch a new $ 36 million training program to help qualify freelancers and self-employed (SEPs) over the next three months.
As part of this program, all freelancers and SEPs receive a training allowance of $ 7.50 per hour if they participate in SkillsFuture courses and selected industry-specific training programs.
There is no limit to the number of training courses you can register for.
"The immediate concern of everyone (freelancers) is the significant drop in income due to the COVID 19 outbreak. This system will not only add to their income, but will also help make them more sustainable," she said in parliament.
The National Trades Union Congress (NTUC) will manage the program and provide details on how to apply shortly.
In addition, Minister Teo said that those who board the Contribute As You Earn (CAYE) pilot will have their contributions voted by the government this year, dollar by dollar, to a maximum of $ 600.
As part of the CAYE program, freelancers who work directly for government and public sector agencies automatically receive a portion of their fees on their Medisave accounts to save on their health needs.
Given COVID-19, more freelancers are expected to qualify for the WIS (Workfare Income Supplement) program, which encourages lower-income workers to remain employed and strengthen their adequacy in retirement, Ms. Teo said.
The qualifying income cap and maximum annual payout both increased from January 2020, she added.
They will also receive 20 percent of their WIS payment for work done in 2019, with a minimum payment of $ 100 in cash.
Selected image source: NTUC Learning Hub