SINGAPORE: NTUC’s Secretary-General Lim Swee Say has said more can be done to improve productivity.
Speaking to reporters after a post-Budget dialogue with some 200 union leaders, he said only a third of union leaders present felt that companies they work for valued productivity.
Mr Lim said: “In terms of strengthening the productivity of our companies, strengthening the competitiveness of our economy, this is an area that a lot more needs to be done.
“To improve our productivity from -2 in 2012 to zero last year, is of course an improvement. However, if we are not able to turn our productivity into positive (levels) — +2, +3 and so on — then in fact we are losing ground to our competitors.”
He said the Pioneer Generation Package was well-received among union leaders — that the package provides relief and support not only for the parents, but for their children as well.
Turning to CPF rates, he said unions welcome the higher contribution rates but added that going forward, the CPF framework needs to be reviewed.
Mr Lim said: “It may now be timely for tripartite partners to sit down and look ahead — the next five, 10 years later — what should the CPF contribution target be for the future because 36 per cent which was set more than 10 years ago may no longer be relevant… we are now already at 37 (per cent).
“So what the union leaders like to see is… (for) the tripartite partners… (to) take into consideration longer life-span, greater need for retirement savings and greater need for healthcare costs and so on.”