Thursday, August 6, 2020

Why you should sign up for NTUC Union membership now........

Given the current COVID situation, more and more company start right sizing aka retrenchment.

1) Pratt & Whitney lays off 20% of Singapore workforce due to COVID-19 
2) RWS workers face uncertain future after mass retrenchment exercise
3) “Retrenchment is likely to rise”: Chan Chun Sing addresses post-GE plans
4) One in four Singaporeans laid off amidst pandemic
5) Coronavirus: Singapore’s Q2 retrenchments spike, surpassing Sars levels

As an individual employee, it is an unfortunate event if your name is in the list.
It is even more unfortunate if your company shortchange you on your retrenchment package.

At this current situation, it is more critical than before to become NTUC Union member to protect your rights as an employee.

But we need to be clear here.

By becoming NTUC Union member, it do not prevent you from been retrenched.
However, it provides you with a channel to seek help to aid you with a helping hand and voice if you received an unfair package.

There is an interview recently with Labour Chief Ng Chee Meng regard to "How to receive fair treatment for retrenched workers" in Ch 8 Hello Singapore 狮城有约.

Difficult days ahead amid Covid-19 but NTUC will support workers: Ng Chee Meng

If you are unfortunately already been retrenched or paycut, NTUC Union launched "NTUC Care Fund (COVID-19) where both existing and new NTUC Union members can receive a one-off cash relief of up to $300 (Link).

Q: What is the benefits of an NTUC Union Member?

Reason 2: Union Training Assistance Programme (UTAP) 
NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP.
NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2022 (Link).

I had claimed once personally and did not face any difficulty submitting for the claims :D

Reason 3: Complimentary Group Insurance coverage for death and TPD up to $40,000
All union members who are below 65 years old are automatically covered against death and total & permanent disability (TPD) of up to S$40,000. Union leaders are eligible for double the sum assured. Union members’ spouses below 65 years old are also covered against death and TPD (Link)

Reason 4: Privileges
There are alot of privileges (Link).
One of the most popular is if you shop at NTUC Fairprice [4% cash rebate on purchases of up to S$6,000 made in the last financial year (1 Jan to 31 Dec), along with 5% dividends (worth $1) for 20 shares.]

Q: How much it cost to become NTUC Union members?
A: The annual fee is $117 ($9 per month from January to November and $18 for December).

I believe you can easily recover this $117 annual fee, which technically mean your NTUC Union membership is actually free.

In the worst case you do not used any of the benefits and privileges, then treat this $117 as buying "insurance" for your job salary.

Current referral promotion:

You can sign up via my referral link here (Ref code: 5614461) and enjoy your free OTO Back Support.

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