Written Reply to PQ on the Programmes To Increase Awareness on CPF, Retirement Security, Financial Management and Savings for Ex-Inmates Aged 55 Years Old and Above Before Their Release, by Mr K Shanmugam, Minister for Home Affairs and Minister for Law

Question:

Mr Zhulkarnain Abdul Rahim: To ask the Minister for Home Affairs given the shorter runway of employable age before retirement age faced by ex-inmates aged 55 years and above compared to other younger ex-inmates, what are the programmes in place to increase awareness on CPF, retirement security, financial management and savings for these older ex-inmates before their release from prison.

Answer:

1.   The Singapore Prison Service (SPS) and Yellow Ribbon Singapore (YRSG) have programmes to help older offenders understand and meet their financial needs after release.

2.   During incarceration, SPS will disseminate information on various schemes that may be relevant to older offenders, such as the Silver Support Scheme, and CareShield Life.

3.   Most inmates, including older offenders, will undergo the Release Preparation Programme (RPP) before their release. Financial literacy constitutes one component of the RPP. Through the programme, offenders learn about budgeting and financial planning, with content tailored to Singapore’s context. This includes topics on CPF, employment and training assistance, as well as sources of financial support in the community.

4.   About six months before release, SPS’ Personal Supervisors will engage inmates to discuss their post-release plans. During these engagements, financial planning and retirement security issues may be discussed. If the older offender requires financial support, referrals will be made to SPS’ Family Resource Centres for assistance and follow-up.

5.   After release, SPS and YRSG work with various partners to deliver finance-related programmes for supervisees in the community. For example, SPS has a partnership with Barclays to implement the Financial Literacy Programme. Under this programme, offenders are equipped with basic budgeting and financial management skills. YRSG also partnered the Infocomm Media Development Authority (IMDA) in 2021 to roll out customised ‘Seniors Go Digital’ training for older offenders. They learn basic digital literacy skills like using smartphone apps to access digital services offered on Government portals, as well as financial and payment services.