What is the Workfare scheme?
Upon further research I cam across an employment scheme that seemed interesting. I am an employer and I want to know more about the workfare scheme. I want to know what it's for and how it would help my both me and my employee and what it is made out of. This really interests me because I've read that this is one of Singapore's key pillars in its social security landscape.
Workfare is made up of Workfare Income Supplement and Workfare Training Support Scheme. Workfare is for the older lower-wage Singaporeans who work, undergo training to up-skill themselves, or both and employers who send their older lower-wage workers for training. It helps because eligible workers recieve a cash supplement to meet short-term expenditure needs, a CPF top-up to build up retirement savings and ubsidies and cash awards when undergoing training to up-skill and improve employability.