SINGAPORE — For about eight hours a day, Madam Habsah Ahmat cooks and oversees the kitchen operations at a branch of Seoul Garden restaurant in Harbourfront Centre.
Naturally, she ponders about how much longer she can stay actively employed, particularly in the laborious food-and-beverage business sector where she has spent most of her working years. Workers like her aged above 60 to 65, for example, will have 20.5 per cent of their wage going into her CPF account from Jan 2023, up from 18.5 per cent now.
The Government will continue with the second increase in employer and employee contribution rates for senior workers aged 55 to 70 in 2023. Her older child, a daughter, is married and has moved out, which leaves just Mdm Habsah and her 21-year-old son in their four-room flat in Punggol. Another support measure announced at the Budget is an enhanced Workfare Income Supplement scheme, which tops up the salary of lower-wage workers.across various age groups and eligible employees will receive higher payouts of up to S$4,200 a year, up from S$4,000.Those aged 35 to 44 will receive up to S$3,000 and those aged 45 to 59 will get up to S$3,600.
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