Up to $6k in financial support for up to 6 months for those who lose jobs

This frees beneficiaries to go for training, career coaching and job matching services

- Tay Hong Yi

Workers who lose their jobs will get up to $6,000 in temporary financial support to tide them over through an upcoming scheme.

They can benefit from this new Skills Future Jobseeker Support scheme for up to six months.

On their part, they should go for training, career coaching and job matching services, said Prime Minister Lawrence Wong as he unveiled some details of the scheme in his maiden National Day Rally speech on Aug 18.

"These are essential investments that you need to make in yourself to find better jobs," PM Wong said.

"This is the essence of our renewed social compact. We will have your back, we will stand by you, but you too must take responsibility for your actions, and make an effort to pull yourself up." The scheme will focus on helping lower- and middle-income workers, including those who are retrenched or who lose their jobs when their companies fail.

Minister for Manpower Tan See Leng will provide more details about the new scheme in due course, PM Wong said, without giving a date.

In his speech at the ITE College Central, PM Wong also said the Government wanted to find a better alternative to unemployment insurance, which is offered in some countries.

He said the Government has "always been wary" about unemployment insurance as the experience in countries that have the insurance has not always been positive, because someone receiving a generous benefit could find it more attractive to stay unemployed than to return to work.