Other Updates

Ministry of Manpower launched new phase of RMAF with effect from 20 January 2011. $11 million top-up to the RMAF will be disburse over the next 3 years.

Risk Management Assessment Fund (RMAF)

Risk management is a systematic approach to help workplaces reduce risks at source. Under the Workplace Safety and Health (Risk Management) Regulations, hazards at the workplace must be identified and evaluated against the probability and consequence of injury arising from these hazards. Employers, self employed persons and principals need to take reasonably practicable steps to eliminate, minimise or control the risks. In addition, the risks and controls measures should also be communicated to everyone at the workplace.

With effect from 20 Jan 2011, the RMAF enables an SME that engages an Approved Risk Consultant to claim up to 90% of the training and consultancy fees, subject to a cap of $6,000. In addition, SMEs can claim up to $400 to offset the administrative fees of engaging a RMAF Agent and up to $600 to engage a MOM-approved WSH Auditor to audit their Risk Management implementation.  

SMEs who are able to fully implement Risk Management on their own after attaining bizSAFE Level 1 and 2 and do not engage an ARC services, can claim up to $800 to offset the cost of engaging a MOM-approved WSH Auditor to audit their Risk Management implementation.

To qualify for funding, the applicant company has to meet the following criteria:

a. Employed not more than 200 workers (including part-time employees);

b. Have a group fixed asset investment of not more than $15 million and group employment size of not more than 200 workers. (Group denotes parent companies and subsidiaries. Where 20% - 100% of the applicant’s shares are owned by companies, the total value of the applicant’s fixed assets and employees is calculated three levels up. Where the applicant owns 51% - 100% of another company (subsidiary), the applicant’s subsidiary's fixed assets and employees will also be added to the computation.);

c. Have at least 30% shareholding that is local;

d. Must not be a public listed company, subsidiary or associate company of a public listed company;

e. Have not received any government funding for the development of risk assessment for the company; and

f. Must not have or certified to have an existing Risk Management system. For example, bizSAFE Level 3, SS506 or it's equivalent.

Funding will subsequently be paid to the applicant company after the Approved Risk Consultant has assisted the company in meeting specified deliverables. This will also allow the company to qualify as a bizSAFE Level 3 enterprise.

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Disclaimer: The above information is accurate based on the best of our knowledge and QuESH Consultants (Pte.) Ltd. will not be held liable for any misinterpretation of the legislation and its subsidiaries.