SINGAPORE – Ensuring that meritocracy works for all Singaporeans has been a key focus of the Government and its policies, but the tendency for society to stratify over time is why collective effort is needed to hold such forces at bay, said Deputy Prime Minister and Finance Minister Lawrence Wong. Read more at straitstimes.com.
SINGAPORE – Ensuring that meritocracy works for all Singaporeans has been a key focus of the Government and its policies, but the tendency for society to stratify over time is why collective effort is needed to hold such forces at bay, said Deputy Prime Minister and Finance Minister Lawrence Wong.
Noting that support in the early years is critical, he said more will be done to narrow the pre-school enrolment gap between children from lower-income households and their peers. Employers, too, have a role to play. The move to raise the CPF monthly salary ceiling is to keep pace with the 80th percentile of monthly resident wages, which crossed $8,000 last year.
“Our aim is to assure all Singaporeans that as long as they work and contribute consistently to their CPF, they will be able to meet the basic retirement sum,” he said. Other ways will be found to help those who do not have the ability to work or the runway to work and save through CPF, he added.6 ways to help workers, from unemployment support to anti-discrimination penalties
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