SINGAPORE, Aug 8 — To provide “extra help” to seniors with insufficient Central Provident Fund (CPF) savings as well as to keep housing affordable, adjustments will be made to the CPF system as well as the Housing and Development Board (HDB) schemes, Prime Minister Lee Hsien Loong said in his annual National Day message today.
More details on the changes will be revealed in the National Day Rally, he said.
His statement, which was about 12-minutes long, was pre-recorded at the SkyOasis@Dawson HDB project in Queenstown and aired on CNA at 6.45pm, addressed a range of priorities faced by the Government, including good governance, active ageing, and public trust.
Noting that Queenstown is one of Singapore’s oldest towns, Lee said the Government has invested heavily in affordable, accessible, and high-quality public flats for millions of Singaporeans over the decades in non-mature as well as mature estates.
“But as we continue to develop more public housing, fewer and fewer undeveloped sites are left for us to build new estates... So, in time to come, more and more new HDB flats will be built in existing estates, like here in Dawson,” said Lee.
With flats in the mature estates generally costing more, Lee said that public housing must remain accessible and affordable for Singaporeans of all income groups, and housing schemes must be kept “fair and inclusive for all”.
As for seniors and retirement security, Lee said the Government has undertaken “special efforts” to adapt HDB estates and flats to serve a rapidly ageing population.
Nearly one in five Singaporeans today is aged 65 or older, he said, and the number is expected to increase to one in four Singaporeans by 2030.
To this, he said the CPF system has been progressively enhanced over the years, and there is targeted assistance to lower-income workers.
“But some older workers now in their 50s and early 60s still have not built up enough CPF savings for retirement and can do with some extra help. I will talk about this at the Rally too,” said Lee.
The National Day Rally will be delivered by Lee at the Institute of Technical Education College Central at Ang Mo Kio on Sunday.
Affordable, accessible housing for all
Speaking on the issue of keeping housing affordable, PM Lee noted that due to the scarcity of undeveloped sites for building new HDB flats, more flats will have to be built in older estates.
Flats in these locations will naturally be in greater demand, and their launch prices and resale prices will reflect that, he said.
Lee added that flats in non-matured estates generally have fewer amenities or less central locations and thus are priced lower. But these existing non-mature estates are “steadily maturing” as their transport links and amenities improve, he said.
Amid this changing landscape, PM Lee said the Government must still be firm in its commitment to affordable and accessible housing. Hence, the Government will tweak HDB’s housing schemes to achieve these goals.
“We must still ensure public housing is accessible and affordable for Singaporeans of all income groups. We must keep our housing schemes fair and inclusive for all,” said Lee.
“We have some ideas on how to do so, which I will share at the National Day Rally.”
On ageing well and retirement
Lee said that the Government will also be enhancing the CPF system to help older workers who still have not built up enough CPF savings for retirement.
While the CPF system has been progressively enhanced to ensure that people can save up for retirement, he noted that some workers in their 50s and early 60s can do with “some extra help” in building up their CPF savings. He did not give further details on the changes.
Beyond that, Lee said the Government is also improving liveability for seniors in housing estates.
“For example, to help seniors find their way around more easily, we will install more visible signages and designs. To make their commuting safer and more comfortable, we will build more pedestrian-friendly zones and rest points. And in your homes, HDB will install more senior-friendly fixtures,” said Lee.
Community spaces will also be improved, and the Government will also enhance programmes that keep seniors well and in touch with friends and neighbours, he said. Lee added that more Active Ageing Centres will be built.
Active Ageing Centres are drop-in social recreational centres located in some neighbourhoods that provide support for seniors living near the centre.
Nevertheless, PM Lee said that individuals should also do their part to stay healthy and well, and that the Government is only part of the solution.
Urging Singaporeans to watch their diets and to continue working as long as they can, Lee also called on families to promoting a healthier lifestyle for seniors by encouraging them to be active.
“Together, we can help our seniors age well. Our seniors have built up the Singapore we call home today,” he said. “It is now for us to make Singapore a place where every senior can age with dignity and grace, connected to friends and family, and with their peace of mind assured.”
Preserving trust in government
Earlier in his message, Lee addressed the Corrupt Practices Investigation Bureau’s (CPIB) arrest and probe of Transport Minister S Iswaran, former speaker of Parliament Tan Chuan-Jin’s hot mic remark, and the resignations of Mr Tan and Tampines Group Representation Constituency Member of Parliament Cheng Li Hui due to their extramarital affair.
“Some have asked what these incidents say about the Government. My answer is this: such issues come up from time to time. When they do, we deal with them properly and transparently. That is what we have always done; and that is what we have done this time too,” said Lee.
Referring to the CPIB’s probe of the Ridout Road bungalow rentals by Law and Home Affairs Minister K Shanmugam and Foreign Affairs Minister Vivian Balakrishnan, Lee said the two Ministers concerned “were thoroughly investigated and completely exonerated”.
The CPIB investigation had found no wrongdoing or preferential treatment given to the ministers.
The recent cases nevertheless highlighted that Lee’s Government is determined to keep the system free of corruption and wrongdoing. He added that the Government will continue to maintain the high standards expected by Singaporeans and the nation’s international partners.
“In all three cases, for the good of the country, we sought to do the right thing, protect the integrity of our system of government, and carry through everything that needed to be done,” PM Lee said.
“This is how we can preserve, protect, and strengthen the trust that Singaporeans have in the Government and in the Singapore system.” — Bernama
