Committee of Supply 2024 debate, Day 6: Murali Pillai on Special Needs Trust Company
In Parliament on Wednesday (Mar 6), MP Murali Pillai noted that it has been 15 years since the Special Needs Trust Company (SNTC) launched its trust services to help with the financial security of persons with special needs on a low-cost basis. He wanted to know what steps can be taken to increase the take-up rate of trust services among eligible families, especially among low-income families. He suggested that the Ministry of Social and Family Development (MSF) agencies, social service and grassroots organisations work together to proactively identify families that can benefit so that SNTC can educate them on the benefits of trust services. Noting that SNTC has evolved to provide not just trust services but other offerings such as subsidised insurance term plans, he wanted to know other plans SNTC might have to ensure the financial security of such persons. He also asked how SNTC plans to equip itself with sufficient resources and bandwidth to ensure that its services can be scaled up to meet the larger demand anticipated for its services.
In Parliament on Wednesday (Mar 6), MP Murali Pillai noted that it has been 15 years since the Special Needs Trust Company (SNTC) launched its trust services to help with the financial security of persons with special needs on a low-cost basis. He wanted to know what steps can be taken to increase the take-up rate of trust services among eligible families, especially among low-income families. He suggested that the Ministry of Social and Family Development (MSF) agencies, social service and grassroots organisations work together to proactively identify families that can benefit so that SNTC can educate them on the benefits of trust services. Noting that SNTC has evolved to provide not just trust services but other offerings such as subsidised insurance term plans, he wanted to know other plans SNTC might have to ensure the financial security of such persons. He also asked how SNTC plans to equip itself with sufficient resources and bandwidth to ensure that its services can be scaled up to meet the larger demand anticipated for its services.
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