RECIPIENTS of NTUC U-Stretch vouchers now have two more months to use them.
The discount vouchers, which were due to expire at the end of this year, will now be valid until Feb 28 next year.
The labour movement said in a statement that it extended the validity period to 'lessen the impact of the downturn and allow members to continue spending even during the festive season of Chinese New Year'.
The vouchers, known as U-Stretch, were launched last April to help low-income NTUC members cope with inflation. Since then, economic growth has slowed considerably and workers fear pay and job cuts.
The vouchers help low-income NTUC members stretch their dollars through a 5 per cent discount for every $10 spent at NTUC FairPrice supermarkets and five other cooperatives offering services such as child care and health care. They can also combine up to four vouchers to secure a 20 per cent discount on a $10 purchase.
The vouchers were given to those with a monthly family income of $1,800 or less, or per capita monthly income of $500 or less.
The NTUC, Singapore Labour Foundation, NTUC FairPrice, private home developer NTUC Choice Homes and insurer NTUC Income picked up the $4 million tab for the vouchers.
Demand has been strong. Within two weeks of the launch, some 23,000 applications were received.
And at least six MPs have said they would consider buying the vouchers to give to needy residents.
In October, NTUC FairPrice extended its 5 per cent discount on house-brand items until the end of March next year to help consumers better cope with the financial crisis.
It was the fourth extension since the launch of the scheme in December last year. The original plan was for the discounts to be in place for just three months.
