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  1. #1

    Older workers HO SAY lah! 2.5% increase in CPF sia.

    SUPPORT FOR ELDERLY

    * “Pioneer Generation” package to assure citizens who were aged at least 16 in 1965 get affordable healthcare for the rest of their lives

    * Package estimated at costing just over S$9 billion

    * Will get discounted outpatient care, top ups to their Medisave accounts, and subsidies for the new national MediShield Life insurance system

    * To raise CPF contribution rates for workers aged 50 to 55 by 1.5 percentage points, 1 percentage point from the employer and 0.5 percentage points from the employee (+1% more for all workers)

    * Will raise employer contribution rate for those aged 55 to 65 by 0.5 percentage points

    Budget 2014: A Quick Summary - Five Stars And a Moon

  2. #2
    Guitar Player raysusan's Avatar
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    Do elderly are more expensive to employ niw?
    | Intel i7 8700K | NZXT Kraken X62 | MSI Z370 Gaming Pro Carbon | G.Skill Trident Z RGB DDR4 3200 16GB | Acer Predator XB271HU | MSI GTX 1080Ti Gaming X | Seasonic X-750 Gold | Phanteks Eclipse P400 Tempered Glass | Samsung 970 EVO Plus 1TB| (((AE))) AegoM 2.1 |B&W 805s . YAMAHA A-S1000 . PIONEER BDP-LX54 . SONY KDL-40NX710

  3. #3
    "0.5 percentage points from the employee (+1% more for all workers)"

    Really pure blood suckers... even elderly also don't let them go...

  4. #4
    Souless in the Night ghostguy's Avatar
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    Congrats , these just made all more expensive to hire.

    * To raise CPF contribution rates for workers aged 50 to 55 by 1.5 percentage points, 1 percentage point from the employer and 0.5 percentage points from the employee (+1% more for all workers)

    Well done~ any how many of us LIVE to enjoy the fruits of our labor..

    Blood Suxkers I do Agree!

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  5. #5
    Family man Dr_ARCHer's Avatar
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    Consider a low skilled job where experience (and hence age) does not affect productivity. For such a job, one would pay the same wage, regardless of whether the worker is old or young. Under the current CPF scheme, this job would make hiring an older worker more favourable, since the total cost (including the employer CPF contribution) is lower. If both young and old worker are equally productive, current CPF scheme disadvantaged the older worker.

    Now consider a job where experience is important. Employer can either employ a younger, less experienced and hence cheaper worker, or an older, more experienced and hence more expensive worker. In this instance, the older worker may not be necessarily disadvantaged with lower CPF contribution rates. Note also that CPF contribution are capped, so even if CPF rates are increased, the dollar CPF contribution may not increase at all.

  6. #6
    If its within my workers quota.

    Will just hire a cheaper ft with twice the education, twice the experience and half the wages.

    MIW companies can afford all the face points but most non-affiliated sme operate in the real world environment

  7. #7
    Chief Executive Princess Christine's Avatar
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    Just for this time round, I fully support the govt's Pioneer package to create an inclusive Singapore.

  8. #8
    Neighbourhood Cat PaulKami's Avatar
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    ThomasTheTrain, you're a disgrace. You're one of the representatives of those elitists who spread news in favour of the current implementations from the governments who practice the same thing: Implement, acting like they're listening to the citizens but they aren't.

    By not replying to the grieving posts in this forums, and by acting intellectual, you're only 1 but one fine examples of how the elitists in our society works. By coming into this forums after your posts not working out in the green side, you've proven that your influence are nothing but a small % of the populations who are arrogant, and feel superior over the others.

    This Pioneer package is indeed pleased by many citizens. But the hole in the net is too huge to have let many others fell off. This is Budget 2014, not Budget Elderly.

    As much as I'd say, placing ThomasTheTrain lower level than BigSale. At least bigsale is posting news. ThomasTheTrain is posting propaganda.
    Kami = 紙 (Paper)
    Kami != 神 (God)

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