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Poverty in Singapore

By: Phoebe Tay

Poverty from
Singapores perspective

Relative poverty - People


from the low-income group
who are not able to afford
the cost of living in
Singapore.

Foreign workers who are


underpaid and live in
undesirable conditions.
Methodist Welfare Services. (2011).
(Photograph). December 6 2014
from http://www.mws.org.sg/Dispatcher?action=
SocialIssueTopic&id=Sc12ce388725076

The Debt Bondage Trap

5 Reasons
Singaporeans get into
debt

Overspending

Retrenchment and pay cut

Using unsecured credit funds


to fund businesses

Unexpected medical bills

Gambling

(5

reasons

that

people

Singapore get into debt, 2014).

in

Pescatori, Andrea (Artist). (2014).


6 December 2014 from
http://econintersect.com/b2evolution/blog1.php/2014/02
/15/more-published-on-debt-and-growth
.

How the Debt Bondage


trap affects foreign
workers
Foreign workers borrow money for visa and travel
costs to come to Singapore. They have to work off
the debt the moment they arrive.

Foreign workers were the first victims of the recent


economic recession in 2008-2009. Employers
made pay cuts or when a payment ran late, it
became non-payment.

High cost of living in Singapore prevents them


from affording certain basic necessities with their
meager pay.

A research study on money


management habits of
Singaporeans

Results: Singaporeans are poor money managers


as they have little savings, little or no
investments, inadequate assets and are likely to
face financial problems during retirement (OCBC
Bank, 2005).

Key of Capability to
alleviate the Debt
Bondage Trap

KEY 5: Access to Benefits of


New Technologies for Higher
Productivity

Monetary Authority of Singapore (MAS) launched


the MoneySENSE National Financial Education
Program in 2003 (The MoneySENSE Financial
Education Steering Committee, 2005).

Central Provident Fund - for Singaporeans in the


workforce to put aside funds for retirement,
healthcare and home purchase (Central Provident
Fund Board, 2013).

The Mental Health Trap

Depression is the most


common health issue.
31.8% of those going
through depression receive
professional help
(PsychologyMatters.Asia,
2012).

17.2% of primary school


children show symptoms of
depression and have
suicidal tendencies
(Sharma, 2014).
Kleineganz. (2014). (Photograph).
December 6 2014 from http://kleineganz.com/depression/

Key of Capability to
Alleviate The Mental
Health Trap

Key 7: Personal Empowerment to


Gain Freedom from Exploitation
and Torment

The Singapore Health Promotion Board runs many programs


e.g. Mental Health Education Program, Workplace Health
Promotion, etc

National Council of Social Service provides mental health


services to help people to re-integrate into the community.

The Humanitarian Organization for Migration Economics


(HOME) addresses the special needs of migrants, victims of
human trafficking and forced labor.

Logo (2012) from


http://www.hpb.gov.sg/HOPPor
tal/

Logo (2014) from


https://www.ncss.gov.sg/

Logo (April 2015) from


http://www.whatisthesight.com/
pure/bnf_home.html

References
5 reasons that people in singapore get into debt. (2014). Retrieved December 4 from
http://www.straitstimes.com/news/business/banking/story/five-reasons-people-singapore-get-debt20141029
Health Promotion Board. (2012). About us. Retrieved from http://www.hpb.gov.sg/HOP Portal/faces/AboutUs?
_afrLoop=43710853374706342&_afrWindowMode=0&_afrWindowId=hmuxnqq12_40#%40%3F_afrWindowId
%3Dhmuxnqq12_40%26_afrLoop%3D43710853374706342%26_afrWindowMode%3D0%26_adf.ctrl-state
%3Dhmuxnqq12_48
HOME. (n.d.). Education. Retrieved from http://www.home.org.sg/education.html
Methodist Welfare Services. (2011). The face of poverty in singapore. Retrieved from
http://www.mws.org.sg/Dispatcher?action=SocialIssueTopic&id=Sc12ce388725076
National Council of Social Service. (2014). Mental health services. Retrieved from
http://www.ncss.gov.sg/social_service/mental_health_services.asp
NTDTV. (2009, March 14). Plight of singapores migrant workers [video file]. Retrieved from
https://www.youtube.com/watch?v=mI35LE0uU00
PsychologyMatters.Asia. (2012). What stops people with mental health issues from seeking treatment?
Retrieved from http://www.psychologymatters.asia/article/64/what-stops-people-with-mental-health-issuesfrom-seeking-treatment.html

Sharma, G. (2014, January 8). Mental health: More needs to be done. The Independent. Retrieved from
http://theindependent.sg/blog/2014/01/08/mental-health-more-needs-to-be-done/
The MoneySENSE Financial Education Steering Committee. (2005). Quantitative research on financial
literacy levels in singapore. Retrieved from https://www.ocbc.com/assets/pdf/Media/
2005/jul/18072005%20Research%20Study%20Finds%20Singaporeans%20Poor%20Money
%20Managers.pdf

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