Budget 2025: Higher CPF contribution rates for older workers, extended Senior Employment Credit

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THE Singapore government will increase CPF contribution rates for those aged above 55 to 65 by 1.5 percentage points in 2026, said Finance Minister Lawrence Wong in his Budget speech on Tuesday (Feb ...

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It was due to lapse after Dec 31, 2025.Wong, who is also the prime minister, noted that more seniors are staying employed as the population ages.Visit our Budget 2025 site for more stories and analyses.The government will raise the qualifying age for the highest SEC wage support tier to 69 years old, from 68 years old currently, in line with the increase in the re-employment age.As such, the government will reimburse companies up to 7 per cent of the wages that they pay to workers 69 and above. Those aged 65 to 67 will get a 4 per cent reimbursement, and those aged 60 to 64 will get 2 per cent.Meanwhile, the government will encourage employers to give ex-offenders a second chance by extending the Uplifting Employment Credit (UEC) to end-2028.The UEC provides wage offsets to employers hiring local ex-offenders earning below S$4,000, and released within three years prior to employment. 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