Ms Khong Sow Cheng repeats the concept that unemployment insurance coverage is a social welfare programme that disincentivises work (Why certain models of unemployment insurance will not work here, March 10).
Unemployment insurance coverage is a type of insurance coverage that ought to perform like some other insurance coverage. The one distinction is that as a substitute of defending a property in opposition to theft or harm, that is safety in opposition to unemployment or lack of revenue.
Mr Luo Siao Ping in his letter, “A good insurance plan can help the jobless, while avoiding pitfalls” (March 8), steered how such a possible unemployment insurance coverage scheme would possibly work.
With the Covid-19 pandemic having ravaged economies world wide, the prospect of long-term unemployment goes to be a actuality for many individuals. This can be a international phenomenon; jobs as we have now identified them are going to be scarcer.
Due to this fact, whereas it is very important be certain that individuals who face unemployment by no fault of their very own have an incentive and the means to get again to work as quickly as doable, we additionally want to grasp that they may want some cash to tide them over between jobs, which may very well be for an extended interval than many anticipate.
The worldwide economic system will not be in a wholesome state for a protracted whereas, and unemployment insurance coverage would assist many individuals get by in these robust occasions.
Unemployment insurance coverage isn’t meant to be another to what’s already in place – it must be an addition.
Establishing unemployment insurance coverage may very well be the right collaboration between the private and non-private sectors.
The Authorities might present the framework for insurance policies, and the non-public sector might have a look at methods to fund insurance coverage pretty between workers and employers, guarantee it’s going to genuinely assist those that want it, and make abuse of the system costly.
The character of the worldwide economic system and, by extension, how folks earn a dwelling, is altering.
Simply as we can’t be caught in outdated notions of incomes a dwelling, we can not get caught in our outdated conceptions of offering safety for individuals who get left behind.