By Shukry Rashid
Facilitated by the NTUC’s U Live@Work department, 37 union members participated in the ElderShield Review focus group discussion session held last month.
The discussion was hosted by ElderShield Review Committee (ESRC) member and U Live@Work Director James Tan. The ages of the participants varied from 42 to 69 years old.
Participants came from various industries and across different ranks – union leaders to professionals, managers and executives, and taxi drivers – to ensure a holistic view was achieved.
ElderShield Review
The ElderShield Review Committee (ESRC) is currently conducting various focus group discussions to gather views from members of the public and stakeholders, including unions.
The review comes after Prime Minister Lee Hsien Loong’s announcement during his National Day Rally speech in 2016 that the Ministry of Health (MOH) will look into enhancing the ElderShield to better address the needs of Singaporeans who become disabled during their old age.
MOH had appointed the ESRC, comprising 14 members, to study possible enhancements to ElderShield.
The scheme is a severe disability insurance plan that aims to provide basic financial protection to Singaporeans who need long-term care, especially in old age. The scheme was launched in 2002 and designed to help supplement Singaporeans’ savings in the event of severe disabilities.
The ESRC is expected to complete the review and submit its recommendations to MOH by the end of the year.
Discussions
While some of the participants shared that they have enough personal safety nets such as insurance, dependents and assets such as CPF savings and property, others were not financially prepared or were uncertain of what they should do if they suffered illnesses that led to severe disabilities.
The participants felt that the existing payout from the current ElderShield was insufficient due to the rising cost of living and longer life expectancy.
The participants also felt that the duration of the payout should be for life as there have been many cases of disabled patients who outlived their payout duration. Suggestions were also given on how to make premiums more affordable through Government subsidies.
Voices of Workers
Healthcare Services Employees’ Union General Secretary Diana Chia, who is also an ESRC member, said that it is important to ensure that the unions’ voices are heard.
She added: “They represent the aspiration and needs of the working community. They engage their members who are sometimes faced with medical or catastrophic issues. It is the experience of the working people that we are tapping on. This is an important engagement we should take into account amongst other focus group engagements.”
National Taxi Association Executive Committee member Jimmy Goh, who participated in the discussion, said that ElderShield is just as important for freelancers.
He added: “As freelancers, financial planning and preparation for old age are important issues. Therefore, it is crucial that we have safety nets as we age.
“With the increase in medical costs, some of the factors that should be relooked at include the age limit, quantum of payment and length of payout.”
Share your views on ElderShield
If you would like to contribute your views on enhancing ElderShield, you can sign up for future ElderShield focus group discussions. For more information on the sessions and how you can sign up for them, click here.
Source: NTUC This Week
