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Planning Ahead in the Gig Economy

Planning Ahead in the Gig Economy
The gig economy has become a buzzword of late, transforming the definition of a "job" for many Singaporeans. Yet while this new industry grabs headlines around the world, there is a certain opacity to the subject. Governments and employers aren't sure how to categorise gig work or prepare for the rising economy. Amongst this somewhat hazy outlook, The Manulife Investors Sentiment Index 2018 hopes to shed some light to Singapore's gig economy.

Responses to the Digital Economy:
Optimism >Pessimism

Planning Ahead in the Gig Economy

68% believe it gives them as opportunity to be business owners

Planning Ahead in the Gig Economy
Planning Ahead in the Gig Economy

The Tech Society: Interest versus Reality

Planning Ahead in the Gig Economy

Interest in full-time digitally enabled jobs remain low but the interest increases slightly with the younger generations

Planning Ahead in the Gig Economy

Similar reasons for working in the digital space between current and potential employees

Planning Ahead in the Gig Economy

Workers with full-time jobs who also work on part-time digital-enabled jobs expect a high portion of income from the latter

Planning Ahead in the Gig Economy

Concerns About the Gig Economy

Planning Ahead in the Gig Economy

Lack of financial protection after taking up a full-time digital-enabled job is a worry

Planning Ahead in the Gig Economy
Planning Ahead in the Gig Economy

Despite >80% of respondents having a mandatory retirement plan,

Planning Ahead in the Gig Economy
Planning Ahead in the Gig Economy
Planning Ahead in the Gig Economy

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These insurance products are underwritten by Manulife (Singapore) Pte. Ltd. (Reg. No. 198002116D). This advertisement has not been reviewed by the Monetary Authority of Singapore. Buying a life insurance policy is a long-term commitment. There may be high costs involved if you terminate the policy early, and your policy's surrender value (if any) may be zero or less than the total premiums paid. Buying health insurance products that are unsuitable for you may affect your ability to finance your future healthcare needs. This advertisement is for your information only and does not consider your specific investment objectives, financial situation or needs. It is not a contract of insurance and is not intended as an offer or recommendation to purchase the plan. You can find the full terms and conditions, details, and exclusions for the mentioned insurance product(s) in the policy contract.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the LIA or SDIC web-sites (www.lia.org.sg or www.sdic.org.sg).

We recommend that you seek advice from a Manulife Financial Consultant or its Appointed Distributors before making a commitment to purchase a policy.

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Important Notice

We are glad to inform that our Client Service Centre (excluding Cashier payment counters) will resume operations from 2 June 2020 (Tue)! This is in conjunction with our country's gradual exit of the circuit breaker period. To protect the safety of our customers and staff, we have put in place stringent precautionary staff measures such as  wearing face shields and masks.

 

While we are more than happy to serve you in person, we encourage you to use our suite of digital offerings for your needs, including the customer online portal - MyManulife, Digital Payments (PayNow, Internet Banking, AXS, eGIRO) and Softcopy Form Submissions.

 

If you need assistance, please submit your enquiry through our Contact us form or call us at 6833 8188, 9am-6pm Mon-Fri (excluding Public Holidays), we’ll be happy to help. Thank you.  

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