About the author: Kabir Sadani is a 10th grade student at the Singapore American School. Born and raised as a Singapore citizen, he has a strong passion in understanding how policy affects different communities across the island. His writing explores issues at the intersection of governance and society.
The Singapore skyline is celebrated as a symbol of efficiency, ambition and glamour. The Marina Bay Sands stands sentinel over an array of steel and glass, while the ocean mirrors its beauty. But behind this backdrop is a group of people who keep our national infrastructure on its track. It’s a sector that is overwhelmingly powered by migrant labour.
Today, over 75% of the Construction, Marine shipyard, and Processing (CMP) workforce is made up of migrant workers. Due to their circumstances, these workers end up signing inequitable contracts, with the hope of creating a better future for their families. Yet the contracts are written in languages they hardly understand, leaving them with very little awareness of what their terms truly entail. And the truth is, those terms offer highly limited pay and protection.
They also face heavy requirements for remittance and savings, which are unsuitable for their contract terms. Without basic financial education, these workers are forced to meet maximum obligations with minimal resources. That is an infallible way for them to spiral into debt and bankruptcy.
Financial instability not only harms the quality of life of workers and their families but also brings stress and fatigue to workplaces across industries. Over time, financial stress among workers leads to higher absenteeism and reduced job focus. Supporting migrant workers with targeted financial literacy programs is not only a moral concern but also a matter of safeguarding the reputation and efficiency of Singapore’s labour system.
Why Existing Efforts Fall Short
Previously, many institutions have attempted to introduce financial literacy programs for migrant workers. However, even banks and corporations have struggled to earn attendance. With many workers putting in intense hours seven days a week, they understandably choose to rest during what little free time they have. As a result, voluntary programmes fail to reach the very workers who need them most.
A Practical, Enforceable Solution
These challenges point to a clear and practical solution: a government-mandated financial literacy program integrated into existing structures. This proposal offers stronger enforcement mechanisms by embedding financial education within the current migrant worker skills development programme (SDP).
Migrant workers in Singapore already attend mandated skills training sessions, typically focused on safety and job-related competencies. These programmes are funded by the Skills Development Levy (SDL), paid by employers, and take place primarily during the first few months of employment. By integrating a financial literacy component into these mandated SDP sessions, employers have little room for non-compliance and workers will be subject to attendance.
How Financial Literacy Programme Would Be Implemented
So how would this process work? Each worker could have a training profile attached to an app. Modules—brief lessons on financial topics—would be delivered by various officials and offered in multiple languages to ensure accessibility. After each module, workers would complete an interactive exercise to demonstrate understanding, with completion tracked directly by the Ministry of Manpower (MOM). The syllabus could be collaboratively shaped by NGOs, corporate partners, and the government, with a focus on practical skills such as managing debt, setting savings goals, handling remittances, and using digital banking tools.
A financially unstable workforce is more stressed and less reliable at work. Fewer crises related to migrant working conditions would mean less strain on higher authorities tasked with resolving them. Research by the Society for Human Resource Management (SHRM) shows that financial stress reduces employee productivity by an average of 7.2 hours per week. Reducing debt-related stress reduces disruptions and interventions in the workplace.
This cost-neutral proposal strengthens Singapore’s reputation by reinforcing our efficiency and positioning us as a forward-looking labour hub. Since our foundation, Singapore has prioritised prevention over remediation—so let’s preserve that standard.
