1 week ago
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SINGAPORE - A new $500 million endowment fund will be grown over the next five years by the National Trades Union Congress (NTUC) to boost support for young children and seniors in Singapore.
Abou
t $12 million is set to be disbursed in 2026
to programmes supporting child development and eldercare.
The new NTUC Community Fund, launched on April 9, brings together two existing funds under the union to better coordinate assistance for beneficiaries and support a larger pool of people.
It consolidates the Bright Horizons Fund by NTUC First Campus, and the Health for Life Fund, which will form an initial base of $200 million for the new fund. The endowment will be further grown through contributions from businesses under NTUC Enterprise.
Over the next three years, the fund will expand its annual reach from 7,000 to 10,000 young children, and from 2,000 to 3,000 seniors.
Officiating the launch at the NTUC Health Senior Day Care in Serangoon, NTUC secretary-general Ng Chee Meng said that many low-income families in Singapore have shared their concerns about giving their children a fair start in life and ensuring their elderly parents are well cared for as they age.
These concerns sit at the heart of the union’s social mission, he said, and the fund will allow NTUC to act on this mission in a much bigger way, standing with workers and their families and supporting them through different challenges.
“When difficult times hit, NTUC and our enterprises are always looking for ways to better support our workers.”
“Amidst the ongoing Middle East conflict, we know that families will face rising cost pressures,” he said.
FairPrice Group announced on April 8 that it will freeze the prices on 100 daily essentials like eggs and rice to ensure the items are affordable.
By scaling the efforts under the fund, more lower-income families or those with additional needs will have better access to early education and intervention support, and more seniors will have support to access essential services a...
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