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  • Foreign Domestic Workers Have Twice As Likely To Develop Mental Health Problems As Singaporeans

    Foreign Domestic Workers Have Twice As Likely To Develop Mental Health Problems As Singaporeans

    A new study has found that foreign domestic workers (FDW) have double the risk to develop mental health problems as compared to the general Singapore population.

    The study, conducted by Humanitarian Organization for Migration Economics (HOME) and revealed today (March 8) showed that almost a quarter (24 per cent) of the 670 FDWs surveyed, are facing poor mental health.

    This means that more than two in 10 FDW have poor mental health as compared to a study conducted by the Institute of Mental Health in 2010 which showed that at least one in 10 people in Singapore which will be stricken by mental illness in their lifetime.

    Several factors such as working and living conditions proved to be significantly related to impact a FWD’s mental health, said the study.

    “Having sufficient rest, one’s own room to sleep in, a stable social network and adequate nutritional and medical attention are crucial for good mental health in FDWs,” it added.

    The study showed that the most severe symptoms amongst those surveyed were psychoticism – a mental state of “losing contact with reality” which includes symptoms such as hallucinations – depression and interpersonal sensitivity – which means they feel inferior or inadequate as compared to others.

    “There are clear correlations between FDWs’ mental health issues and exploitative, restrictive and/or abusive working and living conditions,” said the study.

    The survey also revealed that more than half (51 per cent) of the participants experienced some form of abusive behaviour such as yelling or screaming and even name-calling.

    The survey was conducted between Nov 2013 and May last year. Almost half (48.1 per cent) of the FDWs surveyed – with an average age of 33 – were from Indonesia and more than a third (34.7 per cent) were from the Philippines. The other nationalities surveyed also include those from Myanmar.

     

    Source: www.todayonline.com

  • Refinancing Your Home Loan To Meet CPF Minimum Sum

    Refinancing Your Home Loan To Meet CPF Minimum Sum

    Home for Danny Tay is an HDB four-room flat in Simei that he and his wife Lynette bought for S$401,000. They’ve been living there for the last three-and-a-half years and it’s also home to their young children, Thaddeus and Judah.

    Like many Singaporeans, Danny initially took up an HDB Concessionary Loan, which had an interest rate of 2.6 per cent per annum. But when the 37-year-old engineer heard about the POSB HDB loan over a year ago, he felt he would be in a position to enjoy greater savings.

    An easy decision, thanks to lower interest rates

    He decided to refinance and signed up for the POSB HDB loan, as it offered him significantly lower interest rates.

    Said Danny: “In terms of interest per year, I am saving S$1,960, thanks to the reduced interest rate of 1.8 per cent per annum from 2.6 per cent per annum^.

    “I was attracted by the guaranteed interest rate of not more than 2.6 per cent per annum for the first 10 years of the loan.”

    For Danny, refinancing with the POSB HDB Loan was a straightforward decision.

    The lower interest rates mean that Danny’s monthly repayments were reduced greatly.

    He was able to reduce the tenure of his home loan from 30 to 20 years while paying a similar amount each month.

    “I kept part of the extra savings (from the reduced monthly payments) in my CPF account to help me meet the CPF minimum sum amount.”

    Doing so also allowed him to take advantage of the higher interest rates offered by the CPF Ordinary 
Account.

    Said Danny: “If I can save S$1,960 a year, I will be saving S$19,600 over the first 10 years of the loan^^. After 10 years, about half of my housing loan should be paid up.

    “Even in a worst-case scenario in which interest rates increase significantly after 10 years, my loan amount would still be reduced tremendously.”

    Too good to pass up

    Danny was so satisfied with the savings he’s enjoying that he has shared his story with his friends.

    “I’ve recommended the POSB HDB Loan to six friends and three have signed up so far. I am glad I took up the loan early to enjoy the benefits while interest rates were low.”

    This is the eighth story in a 10-part collab­oration between TODAY and POSB. Visit 
www.todayonline.com/voices/posb to read this story online.

    ^The HDB Concessionary Loan rate is 2.6 per cent per annum at the time of publication.

    ^^POSB HDB Loan interest rates are capped at prevailing CPF Ordinary Account (OA) 
rate which is at 2.5 per cent per annum at the time of publication. Details on CPF OA rate are available on the CPF Board website.

    Deposit Insurance Scheme

    Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law.

     

    Source: www.todayonline.com

     

  • Interior Design Firm Partners HOME To Raise Funds For Cancer-Stricken Bangladeshi Employee

    Interior Design Firm Partners HOME To Raise Funds For Cancer-Stricken Bangladeshi Employee

    SINGAPORE: Things were looking well for Mr Alam Shah, who had found a job as a construction supervisor at an interior design firm, after working here for four years as a manual labourer.

    The 31-year-old was two months into his new job, earning S$1,200 a month, with a bride waiting for him in Bangladesh, until one word shattered his dreams: Cancer. Doctors gave him less than a year to live, if the disease was left untreated.

    Other employers might have sent Mr Alam, a work-permit holder, home once he was deemed medically fit to travel, but his employer, Archetype, decided otherwise. It is now trying to raise funds for his medical treatment, estimated to cost about S$60,000.

    The firm will dig into its profits to help Mr Alam, but has also roped in the Humanitarian Organization for Migration Economics (HOME). It is raising funds through HOME’s account on charity portal SG Gives — something the non-governmental organisation said was a first for an employer.

    Mr Alam underwent surgery immediately after he was diagnosed with Stage 3 brain cancer early last month. However, doctors managed to remove only 40 per cent of the tumour. Mr Alam would have to undergo radiotherapy and chemotherapy to try to stop the rest of the cancer from spreading, which might prolong his life by up to 10 years.

    Mr Alam is covered under medical insurance that employers are required to buy for their work-pass holders, but the S$15,000 policy was only enough to cover his three-day stay at the Singapore General Hospital’s intensive care unit. Chemotherapy alone would cost up to S$30,000.

    Archetype operations manager Melissa Tan said the firm hopes to raise about S$100,000, which would pay for the treatments, follow-up care in Bangladesh and to help his ageing parents financially.

    The company had approached various non-governmental organisations and Government channels to enlist help for Mr Alam. However, they turned the firm down and advised it to send him back to Bangladesh.

    “Even if we sent him home, he would still have no money to pay for treatment,” said Ms Tan.

    So far, Archetype, which Ms Tan said could not afford to cover all of the costs, has raised about S$2,200.

    A check with the Ministry of Manpower (MOM) showed that employers are required to buy mandatory medical insurance of at least S$15,000 per foreign worker, which provides basic cover for hospitalisation expenses.

    An MOM spokesperson said under the Employment of Foreign Manpower (Work Passes) Regulations, employers are responsible for the costs of providing medical treatment for their work-permit holders, regardless of whether the conditions are work-related.

    “The Government does not provide healthcare subsidies to foreigners. If the work-permit holder requires long-term medical care arising from a non-work-related ailment, the employer may send the foreign worker home to continue treatment at the worker’s own expense, once the worker’s condition has stabilised and the worker is deemed medically fit to travel,” the spokesperson added.

    HOME executive director Jolovan Wham said Mr Alam’s case raises the question of whether the medical coverage provided to work-permit holders is comprehensive enough. “This is definitely something we need to look into again as these workers play an important role in this country,” he said.

    As of June, there are 980,800 work-permit holders in Singapore, making up 17.9 per cent of the total population.

    For more details on how to make a donation for Mr Alam, send an email to [email protected] or [email protected].