NTUC Enterprise rolls out $50 million support package to help Singaporeans manage cost of living amid Covid-19

• In light of Covid-19, NTUC Enterprise has more than doubled the value of its support from $20 million last year
• The $50 million package comprises new deals for NTUC Union Members, extension of various discounts and Covid-19 related support measures
• The package reaffirms the commitment and timeliness of NTUC Enterprise to support Singaporeans, especially during difficult times

Singapore, 22 June 2020 – NTUC Enterprise announced today its $50 million support package aimed at providing holistic support for Singaporeans and helping them manage the cost of living in 2020. The support package comprises various initiatives from its group of social enterprises.

Mr Seah Kian Peng, Group CEO of NTUC Enterprise said, “For the last 50 years, NTUC Enterprise and its group of social enterprises have remained committed to doing good for the community, standing united with Singaporeans throughout past crises. 2020 has been a challenging year with the heavy impact brought about by Covid-19 on the daily lives of Singaporeans. In times like these, our resolve to serve Singaporeans has only deepened. We have put in additional resources to ensure that daily essential products and services, including groceries, childcare and eldercare, remain accessible and affordable for all. Furthermore, our insurance, learning and skills upgrading services have adapted swiftly to address the needs of the community during this period. Through this comprehensive support package, we reaffirm our commitment to moderate the cost of living for all Singaporeans.”

1. Special deals for NTUC Union Members

NTUC Enterprise has introduced a series of new initiatives for NTUC Union Members totalling $11.9 million. These programmes by NTUC FairPrice, NTUC Income, NTUC Health, NTUC LearningHub and MoneyOwl provide comprehensive support including specially priced groceries, complimentary $50,000 LUV term life coverage for the first year, dental care kits and more than 100 complimentary online courses to encourage upskilling.

In addition, in line with the recent advisories as F&B businesses reopen for Phase 2, plans to launch a reduced price $1 Breakfast Set^[1] for NTUC Union Members and $1.50 for the public have been shifted. This promotion will now be available for two months, from 3 July to 31 August 2020. Estimated to bring about savings of $1 million, the initiative is available at all NTUC Foodfare and Kopitiam food courts and coffee shops, from 7-11am every day.

2. Extension of discounts/programmes until 31 December 2020

To alleviate the cost of living pressures for all segments in our community, NTUC Enterprise is extending several discounts and programmes for another six months to extend support to all households, our seniors and NTUC Union Members.

A) Price freeze on daily essentials from FairPrice

Over the years, the FairPrice housebrand range of products, which is priced at least 10 per cent cheaper compared to leading brands, has helped defray daily expenses and provided good quality everyday essentials for Singaporeans.

To further extend the support for all households amid the Covid-19 pandemic, NTUC FairPrice will continue to hold prices of 100 housebrand everyday essentials until 31 December 2020. The 100 items are popular daily essentials and include groceries like rice, oil, beverages and poultry, as well as batteries, toiletries and household cleaners. This six-month extension helps cushion Singaporeans against potential price increases, regardless of changes in supply, socio-economic factors and external factors that could affect food prices, especially during the current volatile and uncertain climate. This price freeze of essentials will also act as a benchmark for prices in general of everyday essentials, ensuring they remain affordable.

The initiative, which was launched in March 2019, would have run for 15 months until 30 June 2020, providing customers with savings of approximately $17.8 million^[2]. The six-month extension is estimated to provide an additional $6.7 million in savings to shoppers. In 2019, the cost of 38 of the 100 housebrand items have seen increases of up to 10 per cent, amounting to over $350,000 that FairPrice has absorbed.

B) Discounts for Merdeka Generation, Pioneer Generation, Senior Citizens and NTUC Union Members

NTUC Enterprise and its group of social enterprises will extend the validity of its various programmes to provide more cost savings to seniors.

At NTUC FairPrice, the Merdeka Generation (MG), Pioneer Generation (PG) and Senior Citizens will continue to enjoy their discounts from Monday to Wednesday, for another six months until 31 December 2020. In 2019, PG and MG members saved over $5.5 million while seniors saved $2.2 million through the Senior Discount Scheme.

The extension of both the PG and MG Discount Schemes are estimated to provide savings of $7.9 million in 2020, while savings from the Seniors Discount Scheme is estimated to exceed $2.5 million, bringing the total estimated savings for our seniors to $10.4m in 2020.

In July 2019, NTUC Enterprise introduced programmes for PG and MG members intended to provide them with various benefits and discounts. With the six-month extension till 31 December 2020, PG and MG members can continue to enjoy the various promotions, including the $0.50 offer on hot coffee and tea, and discounts on courses, insurance, personal home care services and day centre services.

NTUC Union Members can also continue to enjoy their $0.50 hot coffee and tea every Wednesday, a popular initiative launched in May 2019 which will also be extended till the end of this year.

3. Covid-19 Relief Measures

When the Covid-19 outbreak emerged, the social enterprises introduced timely relief measures worth $8.8 million to help mitigate the impact of the pandemic on the community. FairPrice Group (comprising NTUC FairPrice, Kopitiam and NTUC Foodfare), NTUC First Campus, NTUC Health, NTUC Income, NTUC LearningHub, NTUC Link, Mercatus and MoneyOwl swiftly introduced initiatives that went beyond the mandatory guidelines provided by authorities to support the needs of those affected.

An example would be NTUC First Campus that set aside $500,000 to offset school fees for families that are most in need, provided financial assistance for eligible students placed on Home Quarantine Orders, Leave of Absence or Stay-Home Notices, and offset 50% of school fees for eligible children during the Circuit Breaker in April and May 2020.

FairPrice on Wheels was launched by FairPrice in April 2020 to bring daily essentials closer to seniors, reducing their time outdoors. The community initiative features no-frills mobile grocery vans providing basic essential items at selected mature estates with a higher concentration of low-income seniors. PG, MG and Senior Discounts schemes are available to seniors visiting these vans. Currently, these specially outfitted vans serve the community at 10 locations in Singapore.

^[1]  The Breakfast Set includes a cup of hot coffee or tea, toast and two soft boiled eggs. Usual price is $1.80 for NTUC Union Members and $2.20 for the public from 7-11am.

^[2] Based on sales of the 100 housebrand items compared against similar national branded items.