The recent NTUC retirement age changes in Singapore reflect a significant shift in the country’s approach to managing an ageing workforce.Scheduled to take effect in 2026, these adjustments will see the retirement age raised from 62 to 65 and the re-employment age extended from 67 to 70.
CPF
Singapore CPF Special Account Closure and Retirement Options
The recent closure of the Singapore CPF Special Account marks a significant shift for approximately 1.4 million CPF members aged 55 and above, as this change aims to enhance CPF retirement support in the nation.Announced during Budget 2024, the closure facilitates the transfer of funds to members’ Retirement Accounts, ensuring that their retirement savings in Singapore continue to grow effectively.
Workfare Income Supplement: Benefits for Singapore’s SEPs
The Workfare Income Supplement (WIS) program in Singapore is a vital initiative aimed at bolstering financial security for lower-income workers and self-employed persons (SEPs).Launched in 2007, this scheme has provided over S$10.5 billion in support, benefiting more than 1 million individuals as of early 2024.
Singapore CPF Changes 2025: Important Updates Revealed
Significant changes are coming to Singapore CPF changes 2025, marking a pivotal moment for members aged 55 and above.The CPF Board updates include the notable closure of the Special Account, impacting approximately 1.4 million individuals.
BTO Flats Application Rate Insights from PM Wong
The BTO flats application rate has become a focal point in discussions about affordable housing in Singapore, especially as demand continues to outstrip supply.Prime Minister Lawrence Wong recently addressed concerns about the challenges faced by the Housing and Development Board (HDB) in meeting this demand, particularly following the disruptions caused by the Covid-19 pandemic.
Philippines Salary Second Tranche 2025: Key Changes Explained
The Philippines Salary Second Tranche 2025 marks a significant leap forward in the government’s ongoing efforts to enhance the pay structure for public workers.Under the Salary Standardization Law, this tranche will take effect on January 1, 2025, promising salary adjustments for over 1.7 million government employees, including teachers, healthcare providers, and administrative staff.
Central Provident Fund Special Accounts: Key Updates
The Central Provident Fund Special Accounts play a crucial role in ensuring that members can secure their financial future, particularly as they approach retirement age.Recently, the CPF has announced the closure of Special Accounts for members aged 55 and above, prompting a transition of savings to their Retirement Accounts.
Singapore CPF Contribution Guide: Rates and Benefits in 2025
Singapore CPF Contribution plays a vital role in the financial landscape of the nation, acting as a cornerstone of Singapore’s social security system.This structured system not only facilitates savings for retirement but also aids in covering essential needs such as housing and healthcare.
CPF Retirement Planning: Essential Updates for 2024
CPF retirement planning is an essential aspect of securing your financial future in Singapore.The Central Provident Fund (CPF) serves as the backbone of retirement funds in the country, ensuring that individuals have sufficient savings to support themselves during their golden years.
Interest Rate Update: 4.4% for Government CPF Accounts
Interest rates play a crucial role in shaping financial decisions and investments, and as we enter 2024, the government-managed CPF account is offering an attractive interest rate of 4.4%.This notable rate, announced by the Social Security Fund (FSS), reflects the returns generated through bank fixed deposits, impacting all eligible sub-accounts.