Budget 2023: More support for employers hiring senior workers

THE government will extend the support for wage offsets and employment grants to encourage employers to hire senior workers. This comes as Singapore looks to tap older workers and invest in their skills.

The Senior Employment Credit, which provides wage offsets to those that hire senior workers, will be extended to 2025, said Finance Minister Lawrence Wong in his Budget speech on Tuesday (Feb 14).

The Part-time Re-employment Grant will also be extended till 2025, he added. The grant encourages employers to offer part-time re-employment, other flexible work arrangements, and structured career planning to senior workers.

More details will be shared by the Minister for Manpower at the upcoming Committee of Supply debate.