NTUC, MoneyOwl launch financial planning guide for retrenched workers

The NTUC and MoneyOwl have partnered to release a comprehensive financial planning resource aimed at helping retrenched workers navigate the immediate aftermath of job loss and secure their financial footing. The playbook addresses critical challenges including budgeting constraints, managing existing obligations, and preserving savings during the transition period. Workers facing retrenchment often experience significant cash-flow disruptions, making timely financial guidance essential to prevent compounding hardship. The collaborative effort reflects growing recognition among labour organisations and fintech players that structured financial planning can help workers weather employment shocks more effectively. The guide reportedly covers practical strategies such as prioritising essential expenses, reviewing insurance coverage, and identifying available support schemes and government assistance programmes. Beyond immediate survival tactics, the playbook emphasises longer-term financial planning, including emergency fund building and skill development investments that may enhance future employability. The initiative comes as Singapore's labour market continues to navigate structural shifts and economic uncertainty, with retrenchment notifications affecting workers across various sectors. Both NTUC and MoneyOwl have positioned the resource as part of broader efforts to strengthen financial literacy and resilience among the workforce.