To help older workers build up their retirement savings in their later years, the government will also proceed with the next step of planned CPF contribution rate increases for senior workers in 2027, Wong adds.
In a bid to strengthen retirement support, the government will provide a CPF top-up of up to $1,500 for eligible Singaporeans aged 50 and above. These members should also have CPF retirement savings below the Basic Retirement Sum.
Singaporeans with lower balances will receive larger top-ups, says Prime Minister and Finance Minister Lawrence Wong at Budget 2026.
