Building Our Shared Future Together: Singapore Budget 2024 Announcements and What It Means for You

About the Webinar

Deputy Prime Minister and Finance Minister Lawerence Wong just announced a wide range of policy changes and enhancements in his Budget 2024 Statement, including changes to the CPF, taxes, and support for households and businesses.

Together, they will cover the Budget 2024 announcements in four broad areas:

1) Support for Singaporeans

• Addressing cost of living, including Assurance Package
• A more secure retirement , including Majulah Package
• For families and persons with disabilities
• Healthcare and active ageing enhancements
• Other announcements, such as NS LifeSG

2) Investing in Singaporeans

• Upskilling through SkillsFuture Level-Up
• More support for lower-wage workers and ITE graduates

3) Tax Changes and Reliefs

• Income and property tax reliefs
• Changes to property tax AV bands

4) Rationalisation and Improvements to CPF System

• Increase in senior workers contribution rates
• Enhancements to Silver Support Scheme, Matched Retirement Savings Scheme
• Increase in Enhanced Retirement Sum
• Closure of Special Account for members aged 55 and above

Join Kang Heong, Manager for Digital Channels at Financial Alliance and David Wu, Financial Advisory Manager representing Financial Alliance Pte Ltd as they deep dive into all of the announcements and how it impacts you and your finances.