PM Lee: COVID is now behind us, but we are once again being tested. International environment is fraught with geopolitical tensions and economic uncertainty. With global warming, world is experiencing more extreme weather. Cost of living issues is still on everyone’s mind. Govt will continue to support you and we will weather this storm together.

PM Lee: I’m glad that DPM Lawrence Wong and the 4G team have launched Forward Singapore in June last year to refresh our social compact. The report will be published later this year. It will be a compass to help Singapore navigate through the stormy seas.

The government will help “Young Seniors”. These are workers in their 50s and 60s. "Young” because they are younger than the Pioneer and Merdeka Generations; “Seniors”, because they will soon retire, or they have recently retired.

PM Lee: Young Seniors are in a unique position. Compared to the Pioneer and Merdeka Generations, they have benefited more from Singapore’s growth, and generally done better in life. But compared to workers in their 30s and 40s, they have generally earned less over their lifetime, and built up less retirement savings. They also have to shoulder the responsibilities of caring for both the young and old in their families.

PM Lee: The government will introduce the Majulah Package to support the retirement needs of Young Seniors.

The Majulah Package will contain 3 components:

1. An “Earn and Save Bonus”: to help workers build up CPF savings while they work.

2. A Retirement Savings Bonus: a one-time CPF bonus of up to $1,500 for those who have not reached the CPF Basic Retirement Sum.

3. A MediSave Bonus: a one-time MediSave Bonus of up to $1,000.

PM Lee: Today, about 1 in five Singaporeans is a senior, aged 65 and above. By 2030, nearly one in four Singaporeans will be a senior.

Today we are an aged society; soon we will be a ‘super-aged’ society.

This has massive social & economic implications. We have much to do to help our seniors age well. And we are starting preparations early.

PM Lee: MOH launched Healthier SG last month. It aims to get each of us to take more responsibility for our own health, supported by GPs and community partners.

Those who enrol will get a personalised health plan, including where to go for screenings and vaccinations. You can also get advice how to lead a more active lifestyle, maintain a healthier diet or quit smoking.

I encourage all seniors to sign up for Healthier SG when you get the invitation from MOH!

PM Lee: We will also do more to help seniors stay engaged and socially active. The Active Ageing Centres (AACs), which have been set up all over Singapore, give seniors something to do with their friends, something to look forward to, a sense of purpose.

PM Lee: At AACs, seniors also help organise and run activities – seniors for seniors. They cook hot meals and deliver them to frail seniors in rental flats. They also have communal meals at the AAC, where seniors can socialise and make friends.

PM Lee: I believe AACs will be a valuable resource for seniors to stay active and healthy. We will invest significantly to expand the network, and work with community partners to enhance the AACs’ services and reach.

PM Lee: We want to make our HDB homes and precincts more senior-friendly. This will help as many seniors age in place. Seniors can now opt for more fittings under EASE 2.0, such as foldable shower seats and widened toilet entrances.

PM Lee: We will also make it safer and more comfortable for seniors to move about in their neighbourhoods:

Build more shelters and rest points along streets and linkways frequented by seniors.
Larger and more colourful block signs.
Therapeutic gardens, fitness trails and exercise machines to help seniors stay active.
Roads will also be made more pedestrian-friendly with longer green man signals, and barrier-free ramps and raised zebra crossings for wheelchair users

PM Lee: For seniors who need more help, we will build more assisted living facilities. HDB’s Community Care Apartments will serve seniors suffering from dementia, and also those who are well. We will need a whole range of these facilities to serve old folks with different needs.

PM Lee: Be it through active ageing, or by making our homes and precincts more senior-friendly, we are taking major steps to prepare for a super-aged society.

These steps will be part of a new programme called “Age Well SG”, which will complement Healthier SG in improving the health of our seniors.

HDB is a vital part of the Singapore story. It gives every Singaporean an asset and a reason to fight for our country and our future. 8 in 10 Singaporeans live in HDB flats. Our Singaporean identity is deeply intertwined with our HDB flats and towns.

The govt has kept housing affordable and accessible for Singaporeans by pricing them at a discount and providing a wide range of grants. COVID disrupted our public housing programme but we are ramping up supply and the market is calming down.

Our housing landscape is evolving. There are fewer and fewer large tracts of undeveloped land left to build new towns and estates. We will increasingly have to build new HDB flats within or near to existing estates. Even what we call “Non-Mature Estates” have become much more developed today. With the distinction between “Mature” and “Non-Mature Estates” blurring, a new framework is needed.

PM Lee: The new framework has to achieve 3 important objectives. First, it has to keep home ownership affordable to all income groups. Second, it has to maintain a good social mix in every town and region. Lastly, it has to keep the system fair for everyone.