Seniors, jobless likely to get targeted financial help in Budget 2024

BESIDES short-term handouts, Budget 2024 may include longer-term financial support for specific groups, to tackle structural issues such as an ageing population and workforce transformation.

“We expect fiscal policy and Budget 2024 to balance between near and long-term priorities,” DBS economist Chua Han Teng wrote in a Jan 31 report.

He noted that, as previously announced, Budget 2024 will bring details of moves to boost retirement adequacy. These include enhancements to the Silver Support Scheme – which provides up to S$900 each quarter to eligible residents – and Matched Retirement Savings Scheme.