Union representation for PMEs should be enhanced for insurance sector: Halimah Yacob

More insurance employers should allow PMEs to have stronger NTUC union representation amid their growing numbers in the sector.

Singapore University of Social Sciences (SUSS) Chancellor Mdm Halimah Yacob made this clarion call on 20 November 2025 at the Singapore Insurance Employees’ Union’s (SIEU) 70^th Anniversary Night. 

She added that collective bargaining could apply to PMEs primarily performing professional duties or those with limited decision-making authority over workers.

Mdm Halimah was addressing SIEU executive council members, union delegates, and other distinguished individuals in her keynote speech as the event’s guest of honour.

Noting that workers will always want to be heard and respected, SIEU General Secretary Mr Luke Hee reaffirmed the union’s commitment to support all workers, including PMEs.

“Workers are the largest stakeholder group in our society, and their aspirations must remain central.

“SIEU stands ready to provide that voice—not only for the rank-and-file of yesterday, but for the PMEs of today. We have been representing PMEs, and counting many among our own leadership since the 1990s. That commitment continues,” he shared.

Singapore insurance sector growth outlook

Mdm Halimah shared that Singapore’s financial and insurance services sector is a key economic pillar, contributing around 14 per cent to the nation’s GDP in 2024, with strong broad-based growth. 

She added that the sector provides good employment opportunities and continues to attract talent and innovation as it embarks on the next phase of growth. Further growth will require the industry to leverage AI to enhance productivity as well as develop sustainability-linked products and green finance. 

Flexibility key to Singapore’s tripartism model

The Singapore tripartism model is often credited for the industrial peace and harmony the city-state enjoys.

For tripartism to thrive, Mdm Halimah said that every tripartite partner, including the unions, requires flexibility to achieve their targets while keeping the common goals of tripartism in sight.

“For unions, it will always be how to improve workers’ lives and ensure that they are treated with dignity.

“These are not incompatible with management’s objectives of enhancing productivity or making more profits, which are dependent on an engaged workforce. It’s also compatible with Government objectives of generating economic growth and employment opportunities,” she explained.

The role of unions in Singapore’s tripartism

As the Singapore insurance industry evolves to meet new challenges, the role of unions as a partner for protecting workers’ rights remains fundamental to make tripartism work.

“Remove unions from the equation, and something else will rise to fill that vacuum.

“The voices of workers will always find a platform—either through organised unions that understand business realities and support nation-building or through unstructured channels like social media, which we have seen emerging with increasing frequency,” Mr Hee elaborated.

Mdm Halimah said that SIEU’s participation in a recent tripartite dialogue is key because it allows the tripartite partners to align as the industry restructures.

Citing recent unfairly conducted retrenchments, she emphasised the importance of the employers building and maintaining trust with the unions to upkeep the strong tripartite relations in Singapore. 

“It’s imperative for employers to fully understand that for tripartism to work, they need to respect the role of unions in representing workers at the company level,” explained the former NTUC Singapore unionist, who spent over 30 years championing workers’ lives within the Singapore Labour Movement.

SIEU continues to be relevant to workers

One of the main aims of a union is to establish and maintain strong labour-management relations with employers to enhance outcomes for workers.

Mdm Halimah noted that SIEU has been relevant to insurance workers and the sector through robust union-management co-operation over the past 70 years.

In sharing how unions support workplace transformation, she highlighted that SIEU has been working with insurance employers to form NTUC Company Training Committees and uphold worker upskilling in a rapidly changing industry.

SIEU 70^th anniversary milestone celebrations

Guest-of-honour Halimah Yacob presenting the long-service award to NTUC’s only cadre member, Alan Tan Hwa Soon, who has committed 69 years to the workers’ cause.

At the 70th anniversary event, long-service awards were distributed to SIEU executive council members and union delegates, who have dedicated between 15 to 69 years to improving insurance workers’ welfare. 

Notable award recipients include executive council member Mr Yacob Mohamed Yusoof, who has served 41 years, and NTUC’s only cadre member Mr Alan Tan Hwa Soon, who has completed an impressive 69 years. Mr Tan is also SIEU’s second longest-serving President.

“Their grit, tenacity, courage and dedication laid the foundations we inherit today—better wages, welfare, and work prospects that workers enjoy across our industry,” SIEU executive council member and SIEU 70^th Anniversary Night Organising Chair Ms Haryati Rahim said. 

SIEU executive council member and SIEU 70^th Anniversary Night Organising Chair Ms Haryati Rahim (right) presenting flowers to Guest-of-Honour Mdm Halimah Yacob.

Guests also paid tribute to the late Willie Tan Kok Seng, SIEU’s longest-serving General Secretary, who passed away in 2021. 

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