FOR SENIORS –
FINANCIAL SECURITY AND PEACE OF MIND
CHAPTER 4
Seniors should enjoy their golden years with financial security and peace of mind. To support our seniors, we created the Majulah Package, and enhanced the Workfare Income Supplement and Silver Support Scheme.
We also provided matching grants to encourage you to top-up the CPF Retirement Accounts of your elderly relatives.
Source: The Straits Times © Singapore Press Holdings Limited.
To provide further assurance and security for our seniors, we will:
- raise the re-employment age so that seniors who wish to continue working can do so
- increase senior worker CPF contribution rates
- co-fund wages to encourage employers to hire and retain seniors
- review and enhance our CPF system
- provide matching grants for voluntary top-ups to the CPF MediSave Account
To care for seniors in their golden years, we will:
- build more Active Ageing Centres to keep people engaged and mobile
- increase subsidies for seniors needing long-term care
- develop new models of care for those who wish to age in place
- strengthen support for caregivers, the unsung heroes in our families