Second Reading Speech By Senior Minister of State for Finance Sim Ann on The Pioneer Generation Fund (Amendment) Bill 2016

1. Madam Speaker, I beg to move, “That the Bill be now read a second time.” 

2. Madam Speaker, the Pioneer Generation Fund (Amendment) Bill 2016 before the House seeks to propose two technical amendments to the Pioneer Generation Fund Act 2014.

Background

3. The intent of the Pioneer Generation Package is to honour and recognise the contributions of all Pioneers in nation building, regardless of their financial status. As such, they receive similar benefits on top of existing healthcare subsidies which the Government already provides for all Singaporeans. 

Proposed Amendment

4. We have taken in former Nominated Member of Parliament (NMP) Chia Yong Yong’s suggestion during the Second Reading of the Pioneer Generation Fund Bill in Nov 2014 for an amendment to better convey the intent of the Pioneer Generation Package and avoid any doubt that the fund could be restricted to providing relief to only those needing financial help. I thank Ms Chia for raising this suggestion and for helping to make clear the intent of the Bill.

5. Hence, the technical amendments to Section 3 and Section 27 of the Pioneer Generation Fund Act are proposed to make clear that the financial means of a Pioneer must not be taken into account when allocating the Pioneer Generation Package benefits, which are met from the Pioneer Generation Fund. 

6. These benefits include the Pioneer Generation Medisave top-ups, maximum subsidy for MediShield Life premiums and healthcare costs (e.g. additional subsidies at polyclinics, subsidised Specialist Outpatient Clinics and Community Health Assist Scheme (CHAS) clinics), and the Pioneer Generation Disability Assistance Scheme.

7. Madam Speaker, I beg to move.