$4 million NTUC “U Stretch” Vouchers
10 April 2007
MEDIA RELEASE
1. To help union members and their families partially defray the higher cost of living, the National Trades Union Congress (NTUC) will distribute $4 million worth of NTUC “U Stretch” vouchers to 80,000 rank-and-file workers from May Day 2008 (1 May 2008) onwards.
2. Funded by NTUC, Singapore Labour Foundation and three of NTUC’s social enterprises (NTUC FairPrice, NTUC Choice Homes and NTUC Income), 80,000 union members can enjoy discounts offered by six participating social enterprises . Valid from 1 May 2008 to 31 Dec 2008, the vouchers can be used, for example, to offset expenditure on groceries from NTUC FairPrice, school fees at NTUC Childcare Centres, and services from NTUC Club, NTUC ElderCare and NTUC Healthcare. For the complete list of participating social enterprises, please refer to ANNEX A.
3. The NTUC “U Stretch” vouchers will enable union members to stretch their hard-earned dollar and in part restore their reduced purchasing power due to higher inflation. Each eligible member will enjoy a discount of 5% off $1,000 worth of purchases over a period of up to eight months.
4. The projected inflation rate for 2008 ranges from 4.5-5.5% (compared to the inflation rate of 2.1% in 2007). The 5% discount will therefore help cushion the impact of higher inflation, especially in food prices, which we are experiencing this year.
Eligibility Criteria
5. To extend its assistance to as many rank-and-file workers as possible, NTUC will offer the “U Stretch” vouchers to union members who fulfill the eligibility criteria of:
i) gross household income of $1,800 and below; or
ii) per capita income of $500 and below
6. NTUC union members can apply for the NTUC “U Stretch” vouchers through their unions or through NTUC from 14 April 2008 onwards. Ordinary Branch (OB) union members may apply through their respective unions while General Branch (GB) union members can download the application forms from http://www.ntuc.org.sg. They can also obtain the application forms from NTUC One-Stop Centre located at No. 1, Marina Boulevard, #B1-01. Enquiries may be directed to NTUC Hotline at 6213 8008.
7. NTUC Secretary-General Lim Swee Say said, “Many union leaders are concerned with the impact of higher inflation and rising food prices on our workers, especially lower-wage earners who feel that their hard-earned dollar has shrunk. With $4 million worth of “U Stretch” vouchers, we will thus be helping 80,000 union members stretch $80 million worth of purchases over a period of eight months.”
8. The NTUC “U Stretch” voucher is the latest initiative launched by the labour movement to help rank-and-file workers and their families under the Care and Share efforts of the NTUC and its affiliated unions, associations and social enterprises. Other vouchers that had been given out in the past years include the NTUC Public Transport vouchers, NTUC Utility (Offset) package, NTUC Club Family Recreation FUNd vouchers and NTUC Back to School vouchers.
Mr Zainudin Nordin
Director
Care and Share
National Trades Union Congress
ANNEX A
Participating Social Enterprises
