Being retrenched can be a difficult and stressful experience filled with self-doubt and worries about whether you can find a new job or cope with paying your bills. When you are suddenly thrown into this situation, it can be hard to know where to turn for help and support.

Thankfully, there are a number of places in Singapore that offer retrenchment support, from government agencies and Non-Government Organisations (NGOs) to private insurers, and even your local telco!

If you got laid off recently or would simply like to be prepared, here’s how you can tap on the schemes available to get back on your feet with confidence.

1. Leverage on Government support schemes

In the recent National Day Rally 2023, Singapore’s Prime Minister Lee Hsien Loong announced that the Government will provide retrenched workers with temporary financial support to help meet their immediate needs, so that they can focus on upskilling and prepare themselves for a good long-term job in the future.

Through training, career counselling and guidance, this new scheme seeks to provide re-employment support to workers and help them get their dream job rather than settling for what’s available. Details are still being fine-tuned but will be released after the Forward Singapore public consultation wraps up later this year.

2. Map out your career goals and next steps

There are several NGOs and statutory boards that also provide retrenchment support, through services such as retrenchment counselling and career guidance.

For instance, the Employment and Employability Institute (e2i) offers career advisory services to help you plan for your future, especially if you’re thinking about switching industries. Meanwhile, Workforce Singapore (WSG) provides job-matching services that links up retrenched workers with Career Matching Providers for free.

Both also have training programmes to help workers sharpen their skills and stay relevant amidst a rapidly changing work landscape, as well as career fairs and other networking events to help job seekers meet their potential employers.

3. Check your insurance plans for unemployment benefits

Short of relying on unemployment insurance which isn’t available in Singapore, check your existing insurance plans to see if there are retrenchment or unemployment benefits that are available to you.

If you’re out of a job, some policies allow you to take a premium holiday so you can maintain your coverage without worrying about how you’re going to pay the premiums. Meanwhile, other policies, such as Singtel Hospital Cash – a hospital cash plan that offers cash payouts during hospitalisation to help you cover your daily expenses – gives you an additional 20% payout if you are hospitalised during retrenchment. 

4. Stay connected with bill protection insurance

Did you know that telco bill protection is available in Singapore? Singtel has partnered Etiqa Insurance to offer Singtel customers basic protection with Singtel Bill Protect, a free 12-month personal accident plan that waives off your outstanding Singtel bills in the event of job retrenchment or accidental death.

By covering essential bills such as mobile services, broadband, TV, and even grocery and streaming services such as Amazon and Netflix, retrenched workers don’t have to worry about staying connected as they embark on their journey of rejoining the workforce.

For instance, if you get made redundant, Singtel Bill Protect provides you with a 6-month waiver of unpaid eligible Singtel bill, capped at S$600. The total amount given will be based on your last eligible bill and given over six equal instalments.

It also includes accidental death coverage, so that in the event of an unfortunate accident, your loved ones are eligible for a lump sum payout of up to 12 times your last eligible bill amount, capped at S$1,200.

With Singtel Bill Protect, you don’t have to worry about surprise charges too. This complimentary opt-in cover will end 12 months after your date of sign-up, and no insurance premium will be charged.

Available to all Singtel Postpaid Personal Mobile subscribers* aged between 17 and 65 years of age, who are Singapore citizens or Permanent Residents (PR) residing in Singapore, Singtel Bill Protect ensures that everyone would have at least a basic level of protection that provides some financial security. 

How to sign up for Singtel Bill Protect? 

Signing up for your free protection is as easy as 1, 2, 3!

1. Go to singtel.com/myaccount and login using OnePass.
2. Click on the Singtel Bill Protect banner on the My Account dashboard to enter the sign up form.
3. Check your pre-filled particulars carefully, then submit the form.

Each eligible Singtel customer is only entitled to one complimentary Singtel Bill Protect policy and this can’t be shared with your family members. However, your loved ones can opt in for their own free coverage if they are also registered Singtel Postpaid Personal Mobile subscribers with their own accounts.

Dealing with retrenchment can be tough, but strong support networks can truly make a world of difference. These resources aren't just there to provide practical help, but also to be a comforting presence during tough times.

So remember, if you ever find yourself facing such a situation, know that you can get retrenchment support through various channels, including Singtel Bill Protect, which you can then leverage to help you get back on your feet and turn challenges into new opportunities.

Just remember, you're not alone on this journey! We’re here to support you on your journey. Sign up for your free bill protection today. 

_{This policy is protected under the Policy Owners’ Protection Scheme  which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Etiqa or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg). This advertisement has not been reviewed by the Monetary Authority of Singapore. Information is correct as at October 4, 2023.}