Lower and middle income Singaporeans aged 50 and above this year will get more help to boost their retirement savings under a new package announced on Sunday. They will receive a yearly CPF bonus of up to $1,000 as long as they continue working. Those who have not met the...
Announcing the package at the National Day Rally on Sunday, Prime Minister Lee Hsien Loong said: “Think of this as a 58th National Day present!”
The package seeks to alleviate their anxiety about retirement, said Mr Lee, as they are “in a particularly sandwiched phase” of their lives having to shoulder the responsibility of caring for both the young and old in their families. Many have children who are young adults that are not yet fully independent, as well as elderly parents who may require additional care.
Mr Lee said: “Most young seniors are still working, and have some years to go before retirement. We encourage you to continue working as long as you can.” The RSB will also cover those who are not working, as well as housewives who might have low CPF balances.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NDR 2023: 1.4 million Singaporeans aged 50 and up to get more help meeting retirement needsLower and middle income citizens to receive CPF and MediSave top-ups for retirement and medical needs Read more at straitstimes.com.
Read more »
NDR 2023: Upgrading works for Geylang Serai Market, Joo Chiat Complex to begin soonThe area's makeover reflects the re-energised spirit of Singapore's Malay community, said PM Lee. Read more at straitstimes.com.
Read more »
NDR 2023: Retrenched workers to get financial support while reskilling, scheme still being 'fine-tuned'SINGAPORE: To help retrenched workers get back on their feet confidently, a new scheme to offer temporary financial support to these workers while they upgrade their skills is in the works, Prime Minister Lee Hsien Loong said on Sunday (Aug 20). 'This scheme will ease the immediate pressure that job s
Read more »
NDR 2023: Upgrading works for Geylang Serai Market, Joo Chiat Complex to begin soonSINGAPORE - Upgrading works will soon begin on two Geylang Serai landmarks as part of larger efforts to preserve...
Read more »
NDR 2023: S’pore to weather storm of economic uncertainty, global warming affecting food pricesThe country is expecting positive growth in 2023 and will weather the storm, said PM Lee. Read more at straitstimes.com.
Read more »
NDR 2023: Retrenched workers to get interim financial support while reskilling for better jobsDetails of the new Government scheme will be provided after the Forward SG public consultation ends. Read more at straitstimes.com.
Read more »