Singapore Cash Payout Essay
Is the ComCare Fund Cash Payout Sufficient For Low-Income Singaporeans? The ComCare was set up as a means to provide financial assistance to low-income Singaporeans. It aims to inspire individuals to be responsible and encourages families to be the main pillar of support for its members, while receiving assistance from the government. Currently, those who have no stable income and are unable to work due to age, sickness and/or unfavourable family circumstances may qualify for the ComCare Long Term Assistance. For a single-household individual, he may receive $450 cash assistance to support his living expenses. With the high cost of living in Singapore, will the cash payout of $450 be enough for an individual to scrape by, considering in the factors of housing loans or rents, utility bills, spending on food, transportation and healthcare? Currently, the income at the 20th percentile of full-time …show more content…
According to Economist Intelligence Unit (EIU), Singapore stands first in the world’s most expensive city to live in in 2015. In comparison with New York, it is 11% more expensive for basic groceries and three times more costly for transport in Singapore (Williams, 2015). Drawing reference to Kok (2015), “people with jobs may still need financial assistance”. Health problems, family arrangements and low education were some of the reasons given. Kok also mentioned a taxi driver, sole breadwinner of a family of five, who earns $2,200 per month and receives $400 from ComCare monthly, managed to only scrape with his daily necessities, kids’ education and medication for his illness. There is no deny that the government has pumped more money to the ComCare Fund, however, according to Tai (2015), “we are still not past the problems of high income inequality, bottom wage stagnation, high costs of living and fast pace of growth that makes it harder for the less able to catch
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