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PwC Singapore launches new charitable foundation

Press release   •   Apr 26, 2019 10:00 +08

Date 26 April 2019
Contact Natalie Choo
Mobile: +65 8722 7545
E-mail: natalie.yl.choo@sg.pwc.com

Candy Li
Mobile: +65 8722 7540
E-mail: candy.yt.li@sg.pwc.com

Singapore, 26 April 2019PwC Singapore announced today that it has set up a new charitable foundation to help foster sustainable and impactful giving by addressing the issues associated with an aging population and developed economies.

Yeoh Oon Jin, Executive Chairman at PwC Singapore said:

“Technological change has brought about challenges for those who don’t have the means to keep up, increasing the pressure for society to support those left behind. At PwC, our purpose is to build trust in society and solve important problems. In alignment with our purpose, we have always placed great importance on giving back to the community through our corporate responsibility programmes and the launch of the PwC Singapore Foundation marks the next step in our corporate responsibility journey.”

In line with these socio-economic changes, the newly set-up PwC Singapore Foundation is focused on supporting three main causes, namely – elderly, disability and education.

Elderly

The proportion of residents aged over 65 has increased from 8.7% in 2008 to 13.7% in 2018 [1]. On top of that, this number is expected to double to over 900,000 in 2030 [2].

The PwC Singapore Foundation has committed to support the elderly by funding causes that help ensure all citizens can age healthily, purposefully and gracefully, in our community.

Disability

The 3rd Enabling Masterplan 2017-2021 focuses on improving the quality of life of persons with disabilities, supporting caregivers, building the community and building an inclusive society. The disability agenda is closely linked to the elderly agenda as the disability rate for residents aged over 50 stands at 13.3% as compared to 3.4% for residents aged 18 to 49 [3].

The PwC Singapore Foundation seeks to support the building of an inclusive society by welcoming differently abled talents. Building an inclusive society is also at the heart of PwC Singapore’s Diversity and Inclusion programmes.

Education

Education is key to build a Smart and Future-ready Nation. While Singapore is widely recognised as a country with high literacy rates and a skilled talent pool, in this age where jobs are changing – driven by the impact of breakthrough technologies ranging from artificial intelligence and robotics to augmented reality and Blockchain – what and how we learn needs to transform.

The PwC Singapore Foundation is committed to investment in education and skills building. From financial literacy to digital skills and mentoring, the Foundation seeks to participate in building a Smart Nation by leveraging PwC expertise and knowledge. PwC Singapore currently provides Skills-Based Volunteering (‘SBV’) where partners and staff use their expertise to help to provide free training to staff within charities. By coupling SBV with funding from the Foundation, PwC can better contribute to future-ready up-skilling for beneficiaries and partner charities.

For more than 15 years, PwC Singapore has been widely engaged in community volunteering programmes. In addition to the existing volunteering programmes, the Foundation will supplement efforts through providing financial support to beneficiaries.

Charlotte Hsu, Corporate Responsibility Leader, PwC Singapore concludes:

“Our community engagement efforts are focused on strengthening the capabilities of non-government organisations, supporting social enterprises and developing skills.

“The Foundation provides us with a more efficient channel for our corporate giving and amplifies our current reach and social impact. Through assessing the needs of the various charities and programmes, we will better understand their needs and support them in the way they need it most. By leveraging both financial giving and volunteering, our Corporate Responsibility efforts can create lasting and meaningful change within our community.”

Ends.

Notes to editors.

To find out more about the PwC Singapore Foundation go to https://www.pwc.com/sg/en/corporate-responsibility/the-pwc-singapore-foundation.html

References

[1] Singstat, “Population Trends,” Singapore, 2018.
[2] The Straits Times, “More can be done to meet needs of older Singaporeans: Heng Swee Keat,” 23 January 2018. [Online]. Available: https://www.straitstimes.com/singapore/heng-more-can-be-done-to-meet-needs-of-older-sporeans.
[3] Ministry of Social and Family Development, “Total Number Of Persons With Disabilities In Singapore,” 19 November 2018. [Online]. Available: https://www.msf.gov.sg/media-room/Pages/Total-number-of-persons-with-disabilities-in-Singapore.aspx.

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 158 countries with over 250,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com/sg.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

© 2019 PwC. All rights reserved

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