Budget 2026: Wong says $400m boost will fund longer-term care

A task force led by Goh Pei Ming will review disability support.

Singapore government will increase support for persons with disabilities, seniors, and retirement adequacy, building on ongoing social and financial programmes.

A task force led by Minister of State Goh Pei Ming will review support for persons with disabilities and their families, covering areas such as expanding community-based facilities, keeping services affordable, and helping graduates of special education schools secure meaningful employment and integrate into the community.

The government said it is prepared to allocate additional resources to implement the task force’s recommendations.
Support for seniors will be expanded to help them age with dignity and financial security.

CareShield Life payouts have been increased, and premium subsidies raised.

“I will top up the long-term care support fund by $400m to fund the additional subsidies with longer life spans,” Prime Minister Lawrence Wong said at the Singapore Budget 2026.

To strengthen retirement adequacy, Singaporeans aged 50 and above with Central Provident Fund (CPF) balances below the Basic Retirement Sum will receive top-ups of up to $1,500, with larger amounts targeted at those with lower savings.

Planned CPF contribution rate increases for senior workers will proceed in 2027, with employers supported through the CPF Transition Offset covering half of the increase in contributions.

The government will also offer more investment options for members seeking higher returns.

The CPF Advisory Panel’s recommendation for a Lifetime Retirement Investment Scheme will be implemented, offering a life-cycle investment approach that automatically shifts from higher-risk equities when members are younger to safer assets closer to retirement.

The scheme will be voluntary, low-fee, and managed by two to three selected providers, with the government prepared to provide limited support to launch it. CPF members will receive guidance to assess whether the scheme suits their needs.

The Minister for Social and Family Development will provide more details at the Committee of Supply.

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