GE2025 results: PAP gets 65.57 per cent of votes in landslide win

Commanding swing from 61.24% share in last general election gives Prime Minister Lawrence Wong the clear mandate he sought

By Lim Yan Liang, The Straits Times, 4 May 2025

Singaporeans have returned the PAP to power with 65.57 per cent of the popular vote, a commanding swing from its 61.24 per cent share in the last general election.

Voters overwhelmingly endorsed the ruling party, which secured 87 of 97 seats in an election that took place against a backdrop of global uncertainty and trade wars.

They gave Prime Minister Lawrence Wong the clear mandate that he had sought, in his first electoral contest as head of government and leader of the PAP.

Constituencies tipped to be fierce battlegrounds – Punggol GRC, Tampines GRC and Jalan Kayu SMC – were in the PAP’s grip by 11pm, when all sample count results were in.

Contests in East Coast GRC and West Coast-Jurong West GRC that were expected to be close also ended in decisive wins for the PAP.

At a press conference at 3am, PM Wong said the clear and strong mandate that Singaporeans have given the PAP was deeply humbling, and called the results “a clear signal of trust, stability and confidence” by Singaporeans in their government.

The immediate next task is to form the Cabinet, and PM Wong said he was grateful that all his key MPs had been voted in, and he could put together the best team to serve Singapore. “I will announce the Cabinet line-up when ready.”

While voters largely heeded PM Wong’s call for a strong PAP team to steer Singapore through coming storms, they also helped the WP retain its 10 seats and strengthen its grip on Sengkang GRC and Hougang SMC.

However, the WP’s call for a more balanced Parliament – and that more opposition MPs would lead to better policies – did not seem to have resonated with voters, as the party failed to make inroads elsewhere.

In Tampines, the only four-cornered fight in this election, the PAP secured 52.02 per cent of the vote against a WP team that garnered 47.37 per cent.

In Punggol, which was a focal point of the hustings after Deputy Prime Minister Gan Kim Yong was deployed there, the PAP polled 55.17 per cent to clinch the new GRC against a WP team led by senior counsel Harpreet Singh.

The other opposition parties failed to win any constituencies or send any candidates to Parliament as Non-Constituency MPs.

The PSP failed to convert or retain its two NCMP seats.

Its West Coast-Jurong West team, led by party chairman Tan Cheng Bock and NCMPs Leong Mun Wai and Hazel Poa, polled 39.99 per cent. This was a near-10 percentage point drop in votes from 2020, when the PSP came close to winning then West Coast GRC.

Instead, the “best loser” of this election was the WP’s candidate in Jalan Kayu SMC Andre Low, who took 48.53 per cent of the votes against labour chief Ng Chee Meng. Mr Ng made a successful comeback after losing in Sengkang GRC in the 2020 election.

The second NCMP came from the WP’s Tampines team, which comprises WP vice-chair Faisal Manap, Institute of Mental Health senior principal clinical psychologist Ong Lue Ping, former diplomat Eileen Chong, start-up co-founder Michael Thng and industrial equipment supply firm co-founder Jimmy Tan.

PM Wong said an issue that came up in the election was the desire for more alternative voices in Parliament, and that he respected Singaporeans with these views.

While he understood the sentiments, he urged those who held them to consider the merits of having a strong team in the Government to work effectively for the country.

The WP fielded a strong and young slate that gave the PAP a tough fight in several constituencies, and now have 10 elected seats as well as two NCMP seats, if they choose to accept them, he added.

“That’s an increase from what they have today, so they will have an increased and continued strong presence in Parliament, as well as the opportunity to refresh some of the members in their slate,” he said.

The WP did not hold its customary post-election press conference right away, but party chief Pritam Singh told supporters at Serangoon stadium at about 1am that it was always going to be a difficult election.

“The slate is wiped clean. We start work again tomorrow, and we go again,” he said to cheers.

The PSP’s Mr Leong, who is the party’s chief, said the results were “shocking” and that the party needed to regroup to fight another day.

SDP chairman Paul Tambyah expressed disappointment at his party’s showing, and attributed voters’ flight to safety to “the constant drumbeat of crisis”.

He said the silver lining was Dr Chee Soon Juan’s showing. The SDP chief took 46.81 per cent of votes in Sembawang West against the PAP’s Poh Li San in his best electoral performance to date. This, however, was not enough for the SDP to secure a parliamentary presence.

At the PAP press conference, PM Wong said he heard feedback from Singaporeans on key issues like cost of living and housing, and gave his assurance that the Government will redouble its efforts in the coming term to tackle these concerns.

“We have already started work on many of these issues and progress has been made, but we will work even harder with this mandate now to ensure concrete progress, and to see how we can achieve even better outcomes across all of these issues and on the economic challenges that are coming,” he said.

He also highlighted the mixing of race and religion with politics as an issue that surfaced at the election.

This was not just a matter of foreign interference, as there were also many negative comments by Singaporeans encouraging people to vote along racial lines, he added.

PM Wong said: “I am heartened that all political parties made clear their stance in this campaign to reject identity politics and reaffirm their commitment to multiculturalism, and the election results show that Singaporeans, by and large, reject identity politics and continue to support a multiracial and multi-religious society.”

The PAP had asked Singaporeans to vote for the name on the ballot that could best represent them in Parliament, and that it was not time for political experimentation given external turbulence.

In the end, the people chose stability and continuity over the opposition’s call for greater checks and balances, and gave PM Wong and his 4G team an unequivocal mandate to tackle the coming storms.

At the close of polls at 8pm, there were 2,429,281 votes cast in Singapore, including 42,829 rejected votes. This made up 92.47 per cent of the 2,627,026 registered voters in all contested electoral divisions.

PM Wong said Singapore has always been and continues to be the underdog despite what it has achieved, and must now close ranks to face the challenges ahead together.

“Now that the election is over, we must put aside our differences and stand together as one Team Singapore to confront the storms ahead, and to secure a brighter future for ourselves, our families and Singapore.”

Senior Minister Lee Hsien Loong said changes happening to the world are worrying, but that Singapore can come through with cooperation between the PAP and the people.

“With your trust and your full support and cooperation, we will do the best for our families, for our country and for our future,” SM Lee said.

Healthcare financing in Singapore: Healthcare spending could hit $30 billion a year by 2030 says Health Minister Ong Ye Kung

The Price of Good Health

Healthcare that is affordable, accessible and high quality comes at a price. Salma Khalik finds out how Singapore is striking the right balance.

The Straits Times, 10 Apr 2025

Spending on healthcare in Singapore could soon become the single biggest item in the Government’s coffers, said Health Minister Ong Ye Kung, as he assured Singaporeans that their basic healthcare needs will continue to be affordable.

In 2025, the Government has set aside $20.9 billion for health, second only to spending on defence, which has a budget of $23.4 billion.

Citing the trajectory of government healthcare expenditure, which had gone up from $9 billion in 2015, the year he joined politics, to $18 billion in 2024, Mr Ong predicted that by 2030, it would likely be close to $30 billion a year.

A lot of the money will go towards building more facilities, including new hospitals, nursing homes and community care centres, and for manpower costs.

But a substantial portion will be spent on subsidies to keep costs down for patients.

“We can make it affordable to the patient, but there’s no doubt that with an older population, healthcare expenditure, whether by the Government or nationally, is going to go up,” he told The Straits Times in an exclusive interview.

Older people not only tend to get sick more frequently, but they are also more sick and stay longer in hospitals as many have more than one medical condition.

Mr Ong said: “You’re seeing a lot more older patients coming in, not because of very severe diseases, but due to infections. Because they are old, there is underlying illness after Covid-19. They are more frail and one infection is all it takes for them to be in the ICU (intensive care unit).”

As a result, the average length of stay in public hospitals has gone up, from 6.1 days in 2019 to seven days by 2022. This represents a 15 per cent increase in patient load, he added. While this trend worries him, Mr Ong is confident that the quality of healthcare for patients in the future will not suffer as a result of the higher demand.

Even as the quality of healthcare here has been getting better over the years, with advances in medical science and technology, he said the Government will continue to enhance the definition of basic healthcare, which it has always promised will remain affordable. As an example, he pointed to the announcement that from October, MediShield Life will start covering treatments using cell, tissue and gene therapy products.

These are individualised treatments tailored to a person’s specific medical problem, some of which were previously untreatable. As each treatment is designed and produced for a specific patient, the cost is high.

The move marks an “inflection point” for basic healthcare here, said Mr Ong. In spite of the high cost, he said “we decided that this is the way to go” because today, if there is an available treatment, people expect to have access to it.

“At some point, that becomes people’s expectation. So we have to start embracing this,” he said.

This is one reason why a large part of government expenditure will go towards subsidising healthcare costs. People will also have to share in the cost of better care, largely with insurance and their MediSave funds, Mr Ong said.

The good news is that the Government is unlikely to need to raise taxes to pay for the higher healthcare expenditure, he added.

Said Mr Ong: “We expect our GDP (gross domestic product) to grow. So long as the Singapore economy grows, tax receipts will go up. And a big part of it, a significant part of it in future, will be for healthcare.”

GST hike did not ‘turbocharge’ inflation, says PM Lawrence Wong as he acknowledges cost-of-living concerns

Budget 2025 Debate Round Up Speech

This Government will always uphold fiscal responsibility, says PM Lawrence Wong

By Wong Pei Ting, The Straits Times, 1 Mar 2025

The PAP Government will never take risks with Singaporeans’ lives and their future – this means ensuring that it keeps public finances healthy year after year and spending within its means, said Prime Minister Lawrence Wong.

PM Wong also cautioned against attempts to portray a healthy surplus as somehow detrimental to Singaporeans as he addressed criticism from opposition MPs about poor budget marksmanship.

“Let’s try not to put a wedge between the Government and the people... A strong fiscal position for Singapore is not at the expense of Singaporeans,” he said. “In fact, it benefits Singaporeans in so many ways, because we are able to invest more in Singaporeans.”

In an hour-long speech wrapping up the Budget debate on Feb 28, he also responded to the opposition’s suggestion that the Government had raised the goods and services tax earlier than it needed to, given an expected surplus of $6.4 billion for financial year 2024, compared with the $778 million that had earlier been projected.

Singapore is in a strong fiscal position today precisely because it took the necessary steps early in this term of government to raise revenues ahead of expected structural spending needs as the population ages, said PM Wong.

While the Republic was fighting the Covid-19 pandemic, it could already foresee spending needs going up on the horizon.

“This was 2020, 2021 – we had no way of knowing when the pandemic would end, how the virus would mutate, how many more new waves of infection would we face, how many more restrictions we have to impose, and how much deeper a fiscal hole we would end up with,” PM Wong said.

The authorities made the decision to proceed with the GST increase in Budget 2022, accompanied by enhancements to a package to delay the increase for most Singaporean households, when there were signs that the economy had stabilised.

“We must ask ourselves, do we want short-term populism or long-term stability?” PM Wong asked. “Do we want to kick the can down the road or take the hard but necessary decisions?”

With the GST increase in place, the Government has the additional revenues – mostly from those who are better off, foreigners and tourists – that it needs to improve healthcare infrastructure and take better care of seniors, he said.

Were it not for the GST hike, and unexpected upsides in corporate income tax collections, FY2024 would have ended in deficit, as would projections for FY2025, he added.

“That would have meant less funding for essential services, less support for our seniors and fewer resources to invest in our future,” he said.

“Basically, Singapore and Singaporeans would have ended up in a much weaker position.”

PM Wong refuted Leader of the Opposition and Workers’ Party (WP) chief Pritam Singh’s proposition that the GST hike had “turbocharged” inflation.

As Singapore is a small and open economy, inflation was driven primarily by global factors, such as war and supply chain disruptions, said the Prime Minister.

In the two years when GST was raised, price increases actually moderated, from 6.1 per cent in 2022 to 4.8 per cent in 2023 and 2.4 per cent in 2024, he pointed out.

He noted that in most countries, poor budget marksmanship refers to when governments severely overestimate revenue collections and underestimate expenditures.

This results in unfunded promises that a country cannot keep, because there is not enough money. Alternatively, it borrows to meet these commitments, thereby leaving a growing burden for the next generation.

This is not the case in Singapore, as the Republic practises responsible and prudent budgeting, PM Wong said.

Earlier in the debate, Mr Singh had called the Government’s fiscal projections “so unpredictable, but somehow always so healthy when elections have to be called”.

This point was echoed by Progress Singapore Party (PSP) Non-Constituency MP Leong Mun Wai, who said that “so much pain” had been inflicted on Singaporeans by the decision to raise GST in 2023 and 2024.

PM Wong said that, ultimately, it was not a matter of marksmanship, but a question of right or wrong fiscal principles.

“The WP and the PSP may think that we are being overly cautious in our projections, but this Government will never take risks with Singaporeans’ lives and future,” he said.

This includes raising revenues should new spending needs arise, he added.

On the charge by opposition MPs that the Government had been relying on temporary measures such as vouchers to deal with cost pressures instead of making structural reforms, PM Wong said that cost-of-living support and the SG60 package accounted for just 5 per cent of the Budget.

A far larger part of government spending is in structural programmes such as SkillsFuture to empower Singaporeans through skills and job training, he said.

“This will ensure Singaporeans do not just receive help, but are able to stand on their own feet and seize better opportunities for themselves and thrive in a rapidly changing world,” he said.

Objectively speaking, this has helped Singaporean households across different income levels achieve higher real income growth in the past decade than countries like the United States and Japan, he added.

For instance, the bottom 20 per cent of households here saw their wages rise 3.6 per cent per annum between 2013 and 2023, compared with 2.1 per cent in the US and minus 1.6 per cent in Japan.

Singapore’s fiscal approach has also stood it in good stead – while many countries use their tax revenues to service interest payments, the Republic instead receives an annual boost from its investment returns.

“Countries that have this luxury of investment returns are the ones that are endowed with oil and gas or some other natural resources – they have been blessed by the heavens with these endowments,” PM Wong said.

‘We have nothing, and yet we are in this position. It is truly unique, and it is a Singapore miracle.”

Singapore’s fiscal strength is a vital source of competitive advantage in these turbulent times, which look likely to get worse, said PM Wong.

He flagged the ongoing wars in Europe and the Middle East, and the possibility of conflict in Asia.

Today’s environment means global responses to these threats will sadly not be as well coordinated or effective as before, he added.

“But in Singapore, we know that if such shocks were to arise, we have the ability to respond swiftly to them, like we did during Covid-19,” he said.

“Our reserves and our fiscal strength will enable us to protect Singaporeans when it matters, and to turn adversity into opportunity.”

In a Facebook post in the evening, Senior Minister Lee Hsien Loong said Singapore must continue to spend prudently, so that it can tackle and recover from future challenges swiftly, as it did with Covid-19.

Reflecting on SG60 – the country’s 60th year of independence – SM Lee said the country’s strong fiscal footing has been built through the careful stewardship of the earlier generations. He said: “It gives us confidence to move forward sustainably, so that future generations can enjoy the fruits of Singapore’s progress.”

PM Wong said the Government’s approach has also achieved outcomes that reflect Singapore’s values as a society – one that is fair, prudent and progressive, where the better off contribute more to lift up those with less.

For instance, the bottom quintile of households receives $4 in benefits for every dollar of tax paid, while the top quintile of income earners receives 30 cents.

“There is no fiscal system in the world that can deliver perfect precision and equity. But I think we have found an approach in Singapore that works for us,” he said. “It’s not perfect, but we continue to make it better.”

At the end of the day, PM Wong said, Singaporeans will decide whether they prefer a government that underestimates needs and spends more from the reserves, leaving the country weaker, or one that steadfastly upholds fiscal responsibility and discipline so that current and future generations have the resources to handle unexpected challenges.

“We will continue to do our best to convince Singaporeans that ours is the right approach. It has served us well these last 60 years, and it will continue to keep Singapore on the right track in the years ahead,” he said.

Singapore Budget 2025: Onward Together for a Better Tomorrow

PM Lawrence Wong unveils bumper SG60 Budget for all Singaporeans

By Goh Yan Han, The Straits Times, 19 Feb 2025

Every Singaporean will receive something from Budget 2025, from vouchers for all adults to personal income tax rebates, as part of an SG60 package.

Prime Minister Lawrence Wong on Feb 18 unveiled what he termed “a Budget for all Singaporeans”, which includes expanding existing schemes to benefit more citizens and greater support for seniors as well as the vulnerable.

He also set out measures to grow Singapore’s economy, help workers upskill and meet its green targets.

The broad suite of measures announced tally up to a record $143.1 billion, an increase from the $134.2 billion spent in the 2024 financial year.

This is about 18.7 per cent of Singapore’s gross domestic product, and is in line with projected trends for government spending that is expected to reach about 20 per cent of GDP by 2030.

The moves are financed by changes to the tax system made earlier in this parliamentary term that put Singapore “on a stronger fiscal footing”, and larger-than-expected revenue collections.

Corporate income tax collections were more than expected in the 2024 financial year. This is now the single largest contributor to total government revenue, higher than the Net Investment Returns Contribution (NIRC), said PM Wong as he set out the Government’s fiscal position. The NIRC refers to the returns on investments of Singapore’s reserves.

He expects a surplus of $6.8 billion, or 0.9 per cent of GDP, for the 2025 financial year.

“When Singapore thrives, every citizen benefits,” said PM Wong, who is also Finance Minister.

“Every Singaporean is supported from birth to old age, with more support given to those with less. No one is left behind.”

PM Wong said the Budget was “shaped together with all Singaporeans”. It lays out the second instalment of plans on the Forward Singapore agenda, which seeks to keep society strong and united.

He noted that Singapore has to navigate a turbulent external environment, with the US and China locked in a fierce contest for global supremacy. Despite the global uncertainties, the Republic can look ahead with a degree of confidence as it is far stronger than it was 60 years ago, he added.

Noting that 2025 marks the country’s 60th year of independence, PM Wong said: “It has been a remarkable journey, reflecting the grit and resilience of generations of Singaporeans in building our nation.”

Something for all Singaporeans

He announced a new SG60 package to recognise the contributions of all Singaporeans and share the benefits of the nation’s progress.

In July, all Singaporeans aged 21 to 59 will receive $600 in SG60 vouchers, while those aged 60 and above will get $800. These vouchers, amounting to about $2 billion, will function like the CDC ones.

Under the package, individuals will also get a 60 per cent personal income tax rebate, capped at $200, for the 2025 year of assessment.

All Singaporean babies born this year will get an SG60 Baby Gift, PM Wong added, among other measures in the package.

The hotly anticipated Budget, which comes ahead of an upcoming general election widely expected by mid-year, also tackles top-of-mind issues for Singaporeans such as cost-of-living pressures and job insecurity.

To alleviate rising costs, PM Wong announced another $800 of CDC vouchers for all Singaporean households, totalling about $1 billion. The first $500 will be given out in May 2025, while the remaining $300 will be issued in January 2026.

He also announced more utility rebates and credits for families with children to defray household expenses.

While inflation is expected to ease further in 2025, PM Wong acknowledged that Singaporeans are still adjusting to new price realities. “We will continue to provide support for as long as needed, within our means,” he said.

To help parents who have or plan to have three or more children, PM Wong detailed a new Large Families Scheme.

The scheme will disburse $16,000 to such families for each third and subsequent child born from Feb 18, and help to cover pre-school and healthcare expenses, as well as household spending.

PM Wong also announced that several schemes will be extended to private property owners, including the climate vouchers programme that all Housing Board households can currently tap to buy energy- and water-efficient household appliances.

HDB households will get an additional $100, on top of the $300 they received last year, while households in private properties will get $400 in climate vouchers.

The Enhancement for Active Seniors (EASE) scheme that provides subsidised senior-friendly fittings and installations in HDB households will be extended to private property households up to 2028, said PM Wong.

Supporting workers, securing the future

While the Government has taken measures to mitigate the impact of rising costs, the best way in the longer term to adjust to higher prices is to grow the economy and increase productivity, he said.

Dedicating a significant portion of his Budget speech to new moves to grow the economy, he announced more funding for research and development and a new $1 billion fund to provide more financing options for high-growth local enterprises.

At the same time, workers must be equipped with the skills needed to stay competitive and relevant, said PM Wong.

He said that the SkillsFuture Level-Up Programme, announced in 2024 to support mid-career Singaporeans who are upskilling full-time, will also be extended to part-time training.

The Workfare Skills Support scheme, which currently covers short courses for lower-wage workers, will have an enhanced tier of support that covers longer-form courses, he added.

The Prime Minister also outlined measures to support more vulnerable groups of workers, including older workers, former offenders looking to reintegrate into society, and people with disabilities.

PM Wong said the Budget also lays the groundwork for the country to become stronger and more resilient.

It includes measures to tackle climate change, like a $5 billion top-up to the Coastal and Flood Protection Fund. The fund covers long-term plans such as land reclamation for Long Island and structures like sea walls and tidal gates.

Singapore will need to have its own domestic sources of clean power to ensure greater energy resilience, PM Wong said, adding that the country will study the potential deployment of nuclear power and take further steps to systematically build up capabilities in this area.

Apart from plans to access more sources of clean energy, the Government will accelerate efforts to decarbonise the transport sector, he said.

It will roll out a new emissions scheme and electric charging grant to incentivise the purchase of clean energy variants of heavy vehicles. Adoption of such vehicles has been slower compared with that of electric and hybrid cars.

Singapore will continue to improve its public transport system, said PM Wong, noting that $60 billion will be invested in this decade to grow and renew the rail network.

“We are continuing to study how our rail network can be expanded,” he added.

Concluding his speech, PM Wong said Singaporeans have to brace themselves for new challenges in the next phase of nation building.

The country has confronted tough external circumstances repeatedly over the past six decades, and “we can draw confidence from what we have been through together”, he added.

At every turn, Singaporeans have chosen determination over despair, innovation over stagnation, and solidarity over division, said PM Wong.

“Budget 2025 sets out clear plans for us to continue this journey with confidence.”

CPF system geared to meet retirement needs as people live longer: PM Lawrence Wong

In an interview with Lianhe Zaobao, Prime Minister Lawrence Wong discussed how the system has evolved and how the Government will continue supporting the housing, healthcare and retirement needs of Singaporeans throughout different stages in their lives. Here is an edited extract of his interview.

The Straits Times, 8 Feb 2025

Zaobao: What makes the CPF (Central Provident Fund) system unique, and how has it helped our CPF members?

PM Wong: Our CPF system has been improved and enhanced over many years and decades. The system we have today is very different from the one that we started with, or even the one that was in place 20 or 30 years ago. And there are several unique features in our system.

In some countries, they have what you call a defined benefit scheme. So when a person retires, they get a defined payout after retirement, and that funding is supported by taxpayers. It sounds very attractive, but it can be difficult to sustain because with a rapidly ageing population, it means that there will be fewer taxpayers to support a rapidly growing pool of seniors. And then the burden continues to grow, which is why commentators looking at some of these pension systems describe it as a pension time bomb. And there are no very good solutions. People are just kicking the can down the road.

In some other countries, they do not have comprehensive support for individuals, and they ask the individuals to rely more on their own efforts to save and look after their own retirement. But that is also not ideal because then the burden on the individual is considerable. So, our system is unique because it brings together different stakeholders, individuals, employers and the Government. We all do our part, and it reflects our social compact in Singapore.

We want to help one another, and it means, within our CPF system, the individual contributes, saves part of their income every month into their CPF account. Employer pays CPF, but the Government also does its part. We run the entire system for CPF, we provide guaranteed risk-free interest rates on CPF savings. And importantly, we provide additional support for the more disadvantaged and vulnerable groups in different ways, and by all parties coming together, we have a CPF system that can look after individuals’ retirement, housing and healthcare. And that’s also quite unique.

While the system is primarily designed for retirement, it is a system that has also enabled Singaporeans to take care of their own healthcare needs. They can use their MediSave for hospital bills and also for payments of their insurance premiums. As they start work and they want to set up a family, they can use their CPF for housing. Eventually, when they retire, they have CPF Life to take care of their retirement needs. So this is how we have over the years improved and enhanced considerably our CPF system. It is now a critical pillar in our social safety net. But of course, while it is a good system today, we are not resting on our laurels. We will continue to improve and enhance it, and make sure it remains a critical plank in our social security system, and can meet the current and future needs of all Singaporeans.

ZB: PM, you talked about Singaporeans living longer, so this means that they will need more funds for their retirement years. Some are worried that they may not have enough to support their golden years. How is the Government responding to this?

PM Wong: This is an issue that many countries are grappling with, especially those with rapidly ageing populations. And there are no easy answers. Because as the population ages and you have more seniors to look after, then whatever funds you have for retirement must stretch out for a much longer period.

The challenge is how do you look after people who are living longer? And in the end, the answer is that you need more funding. But the big question is who pays for the funding? We have been grappling with this issue for some time because we could see the trends. Even 20, 30 years ago, we could already see the trends. And we have been grappling with this.

When Singapore started out in the 1960s as an independent country, our average life expectancy was about 60-plus. People retired in their 50s, and they just needed to look after about 10 years of retirement. Nowadays, average life expectancy is around 85. And if you drill into the data, you have more and more people who are living beyond 90, even beyond 100. Our number of centenarians is growing rapidly. So when you retire, you have quite a long period of retirement to look after and to ensure that you have enough funds for your retirement years. What is the answer, then? How do we help everyone ensure that they have peace of mind during retirement?

I think there are two parts to it. One is we have to be prepared to stay employed and work longer. And that’s why we have been talking about raising the retirement age and the re-employment age for some time. Today, our retirement age is 63, the re-employment age is 68, which means employers must be prepared to offer the seniors a re-employment contract to work up to 68. And we have shared that we plan to raise this to 65 and 70 by 2030.

But we also know that it’s not easy for people, for older workers, to stay employed. And so we are not leaving Singaporeans to fend for themselves. It’s one major reason why we are investing so much in SkillsFuture, and we want to make sure that we continue to reskill and upskill our older workers, give them a substantial injection of new skills so that they can stay competitive and relevant.

And of course, all of us must start to change our mindsets and attitudes. Because in the past, it was very simple. Study, work – and often the work involves one career, one job – and then they retire. I think with longer lifespans, we have to be prepared for studying, but you are in fact going to continue learning throughout life, and your work will have multiple phases. Even if it’s one industry, you may have different kinds of job responsibilities, and very often it will be different industries, different seasons, different second, third acts in life, before you eventually retire. And SkillsFuture is there to support Singaporeans through these different phases. That’s one important way in which we help.

The second way we help is when someone retires, for example at 65, you want to ensure that their retirement savings can go on throughout their lifetime no matter how long they live. So we have CPF Life, which we implemented some time back, and this provides an annuity payout for the individual’s lifetime. And if you have your Basic Retirement Sum at 55 in 2025, by the time you are 65, you should be able to get a CPF Life payout of around $900 a month on the Standard Plan (in 2035). If you are able to work in a job that pays more, and you accumulate the Full Retirement Sum, the payout will be higher at around $1,700 a month (in 2035).

So it’s a scheme that allows you to design payouts, provide some flexibility. You can decide how much you want to save, and you can design the payouts to suit your own lifestyle and needs. What we want to do is to assure every Singaporean that so long as you make the effort, you work consistently throughout your lifetime – it doesn’t mean that you have to work every single year, but as long as you put in consistent work, and if you start young – by the time you get old and you want to retire, you should have enough protection through the CPF system to provide for your retirement. That’s our assurance to all Singaporeans.

Stakes high in GE2025; no guarantee PAP will win and form a stable government, says PM Lawrence Wong

People’s Action Party Awards and Conference 2024

By Kenneth Cheng, Assistant News Editor, The Straits Times, 25 Nov 2024

The upcoming general election in 2025 will be a high-stakes one, and Singapore risks ending up with a much weaker government if there is just a modest swing in popular votes against the ruling party, said Prime Minister Lawrence Wong.

Speaking at the People’s Action Party conference at the Singapore Expo on Nov 24, he told party members: “Please don’t think it is guaranteed that the PAP will win and form a stable government.”

In a speech lasting about 40 minutes, the Prime Minister also highlighted the need for Singaporeans to stay united in the midst of trying circumstances beyond the country’s borders, and spoke of the urgency for the PAP to have a fresh crop of younger candidates who can take the nation forward.

He noted that in the 2020 General Election, the opposition had warned Singaporeans against an “opposition wipe-out”.

“Actually, there is no chance of that happening at all,” he said, adding that the opposition in Singapore is here to stay.

There have been opposition MPs in Parliament since 1981, and the Non-Constituency MP scheme guarantees at least 12 opposition MPs in the House, noted PM Wong, who is set to take over as PAP secretary-general. He is now the party’s deputy secretary-general.

“In fact, given the desire for more opposition voices, the bigger risk we face is the loss of a stable and strong and good government,” he said.

The opposition admits it is far from ready to form the Government, he told an audience of about 3,000 PAP cadres, activists and guests.

“They say that partly because they know that Singaporeans will not support them if they openly declare their intention to govern,” he added.

But if more and more voters are persuaded by the opposition’s argument to vote them in so they can oppose the government of the day, “you can be sure that what is now the opposition will soon be the Government”, said PM Wong.

He cautioned that such a scenario would not require a large swing in votes at the next general election, which must be held by November 2025.

A modest swing in popular votes against the PAP, he noted, can lead to very different electoral outcomes, and very possibly the loss of another three or four group representation constituencies or GRCs.

This means the party will lose four or five ministers – or a quarter of the Cabinet.

“We will end up with a much weaker government, with far less ability to solve the problems facing our people and our country at a time when the world is becoming more uncertain and troubled,” he said.

“So, comrades, the stakes in the next election are high.”

PM Wong urged the party to work hard for every vote, to earn the confidence and trust of Singaporeans, win the mandate to govern, and ultimately, serve fellow Singaporeans.

“We know from the last election, and more so in the next election, there are no longer any safe seats,” he said.

“So every resident, every vote counts, and all our efforts matter.”

He noted that the PAP faces a rather unique political challenge, having governed Singapore for 65 years.

It is the party’s desire to keep serving Singaporeans for as long as possible, but he warned that members must never assume they will not see a change in government in their lifetime.

PM Lawrence Wong's Press Conference with Singapore Media on 8 Nov 2024

Singapore must work harder to find like-minded partners in less hospitable world: PM Wong

By Danson Cheong, Assistant News Editor, The Straits Times, 8 Nov 2024

Foreign policy issues might not be “top of mind” for many Singaporeans but how the Government advances Singapore’s interests abroad is critical to the country’s ability to survive and thrive.

Prime Minister Lawrence Wong said this on Nov 8, pointing out that as the global environment grows more fraught, Singapore needs to work even harder to strengthen its network of friends and partners. It will also need to work with like-minded countries to shape international norms and rules, and find common ground on issues of shared concern.

Speaking at a wide-ranging press conference, PM Wong laid out an overview of the geopolitical challenges that Singapore is facing, including wars in Ukraine and Gaza, tensions between the US and China, and the weakening of established norms and multilateral institutions.

“That is why we see growing zones of impunity, where state and non-state actors are able to push for what they want with little or no consequences,” he said.

How the Government navigates this is critical to making life better for Singaporeans, PM Wong told reporters at the National Press Centre in Hill Street.

“Foreign policy is critical to our ability to survive and to thrive. It is about how we can stay relevant and expand our networks and ensure that our little red dot can keep shining, even in a more dangerous and turbulent world,” he said.

“In the end, everything we do, whether it is domestic or foreign, comes back to how we can make life better for Singaporeans, and that remains the focus for me and my team,” he added.

His comments come just days after US President-elect Donald Trump made a stunning political comeback, defeating Vice-President Kamala Harris to win a second term as the US’ top leader.

But Trump’s impending return to power has triggered anxiety among the US’ partners and allies over the potential security, trade and geopolitical implications of a second Trump term.

During his campaign, Trump said he would end the war in Ukraine, and he has accused President Joe Biden of giving Israel insufficient support.

He also vowed to slap tariffs of 60 per cent or more on Chinese imports and at least 10 per cent on goods from all other countries.

Asked about the implications of these potential barriers to trade, PM Wong said this is a concern, pointing also to the European Union’s recent decision to increase tariffs on Chinese-built electric vehicles.

“Trade is three times our GDP (gross domestic product). We are an open economy, we are a trading economy, we would be concerned in a world where there are more and more frictions to trade overall,” said PM Wong.

He pointed out that while there may be situations where countries would apply tariffs, this should be done within a proper framework, with trade disputes raised with an institution like the World Trade Organisation (WTO).

But he added that it has been difficult to get countries to support efforts to revamp and strengthen the WTO, even under the current Biden administration.

He also said this is why Singapore is also trying to “do more around Asean and other regional forums” to keep trade barriers low.

Since he became prime minister in May, PM Wong has been on a slew of overseas trips.

He has attended the Asean summits in Laos and the Commonwealth Heads of Government Meeting in Samoa, and has visited South-east Asian countries including Brunei, Malaysia and Indonesia. He added that he hopes to visit Thailand later in 2024.

He is also expected to visit Peru and Brazil later in November for the Asia-Pacific Economic Cooperation and Group of 20 summits, respectively, and said he could visit the remaining Asean countries and India in 2025.

When asked about the implications of the recent US presidential election, PM Wong said on Nov 8 that he believes the Government would be able to continue to work well with the new Trump administration, pointing out that both countries extended a memorandum of understanding on defence during the last Trump term.

“We continue to grow our trade and investment links between Singapore and the US in a very productive manner. So I think, bilaterally, we look forward to working closely with the new team,” he said.

PM Wong also reiterated concerns about the trajectory of the US-China relationship, pointing out that while America remains a pre-eminent power in many areas, China is rising.

“America has to decide what to do with this, to treat this as an existential threat, and therefore to contain China, or to embrace China and accept China as a major power in its own right,” he said.

On the other hand, China needs to consider the responsibilities it needs to undertake to uphold the international order now that it is the second-largest economy, he added.

The decisions these two major powers make will shape the future global order, he said, adding that, where possible, Singapore will do its part to facilitate a relationship where both sides can engage and find a way to coexist with each other.

He also said that while the American security umbrella continues to be relevant and provide stability for the region, more Americans are raising questions about why the US has to bear the cost of its international responsibilities.

“We understand that, and that’s why we do not take this for granted,” he said, adding that this is why Singapore supports not just America’s security presence in this region, but also greater American economic engagement.

The recent US presidential election also laid bare the political divisions within the country, and PM Wong was asked about whether he was concerned these tensions would spill over to Singapore.

PM Wong said in many countries, elections are leading to outcomes where society is more divided and polarised – and in a situation like this, there is no winner.

“In the end, everyone is worse off because it makes it harder to govern, and it makes it harder for countries to move forward,” he said.

Singapore has put in place guard rails for this, recently updating its laws on deepfakes and digitally manipulated content of election candidates, said PM Wong.

But he added that it is also vital for the Government, political parties and Singaporeans to work together to ensure that society is not divided and polarised.

“We try our best not to go down the path of political populism, opportunism, but find ways to keep our society strong, united and maintain that high level of trust, because that’s essential for Singapore to stay relevant and to survive in this new world,” he said.