Starting in 2025, significant reforms to Singapore’s pension system are set to improve financial security for retirees. These changes are designed to address the challenges posed by an aging population, longer life expectancies, and the rising cost of living. With these modifications, the government aims to provide retirees with more control over their retirement savings, … Read more
In an effort to support its senior citizens, Singapore continues to introduce measures aimed at improving the financial security and overall well-being of its aging population. One of the most prominent initiatives in 2025 is the $900 Senior Bonus, which is designed to help elderly residents manage the rising costs of living. This payment is … Read more
The Singapore government has introduced the Workfare Payment of up to SGD 2,800 for eligible low-income workers in 2025. This initiative is part of the broader Workfare Income Supplement (WIS) scheme, which aims to enhance the financial security of workers who earn lower wages, while promoting long-term employment and retirement savings. Through direct cash payouts … Read more
The Central Provident Fund (CPF) is one of Singapore’s most important national savings and pension schemes, designed to provide for citizens’ retirement, housing, and healthcare needs. Both employers and employees contribute to CPF accounts, creating a long-term fund for financial security. Recently, claims circulated online suggesting that first-time CPF withdrawers could receive a special $1,800 … Read more
Singapore will introduce significant changes to its work permit system in 2025, marking a major shift in the country’s approach to managing foreign manpower. These updates are part of the government’s long-term strategy to promote fair hiring practices, attract skilled foreign professionals, and strengthen opportunities for local talent. Both employers and foreign workers must be … Read more