Chew Ming Hui, Author at Goody Feed

It's that time of the year again. We're not talking about CNY. We're talking about the annual Budget speech. Yes — that time of the year when it's suddenly alright to book that $500 flight, because "Eh! Got CDC vouchers anyway, it's okay to spend more on other things lah!" If you're not in the mood to read a million different headlines about vouchers and payouts, here's an easy summary of the key things you'll be getting from Budget 2026. $500 CDC Vouchers Let's start with CDC vouchers. All Singaporean households will receive $500 in CDC vouchers in January 2027. But before you get too excited, take note that it's $500 per household, not per individual. If you're living in a household where one person always ends up "managing" the CDC vouchers, then good luck negotiating for your share of the CDC vouchers. This round of vouchers will be valid until the end of 2027. Similar to the previous rounds of CDC vouchers, half of the vouchers can be used at participating supermarkets, while the other half can be used at participating merchants and hawkers. $200-$400 Cost of Living Special Payment Aside from CDC vouchers, eligible Singaporeans will also receive $200 to $400 in cash under the Cost of Living special payment, paid out in September 2026. To qualify, you must be a Singaporean aged 21 and above in 2026, reside in Singapore, have an assessable income of $100,000 or below, and also own no more than one property. The precise amount you'll receive for this payout depends on your income and the value of your home. The lower your income and the less atas your house is, the higher your payout is likely to be. Conversely, the higher your income and the nicer your house is, the lower your payout is likely to be. Up to $570 in U-Save Rebates If you're staying in a HDB flat, now's your time to tease your friends staying in condominiums and landed properties, because you'll be receiving more U-Save rebates once again. If your household is Singaporean, stays in a HDB flat, and the members of your household do not own more than one property, congratulations — you'll be receiving up to $570 in U-Save rebates this year. For most 3-room and 4-room flats, this can cover around two months of utilities. If your U-Save rebates are covering significantly less than that, it might be time to have a heart-to-heart talk with your air-con. 6 Months’ Free Access to Premium AI Tools Yes, you read that right. This year's Budget also gives you the chance to get free access to premium AI tools, which usually require payment. For example, while ChatGPT is free to use, there are also premium plans like ChatGPT Plus, which costs $30 per month, or ChatGPT Pro, which costs $300 per month. If you sign up for selected AI training courses, you’ll receive six months of free access to premium AI tools. This allows you to actually hone what you learnt in these AI training courses, instead of just forgetting everything you learnt the minute the course ends. As for what exactly these "selected" AI training courses are, or what type of premium AI tools will be available for use, we'll have to wait and see. More details about this initiatives will be announced only during upcoming debates. With AI becoming more common and more AI experts entering the workforce, you might be wondering what this means for your job. If you’re worried that AI will take over your job, don’t stress: PM Wong also said that if AI displaces roles, the Government will manage the transition carefully, working with NTUC and the unions to help workers move into new opportunities. Support for Lower-Wage Workers There are two key support measures announced in Budget 2026 that lower-wage workers must know about. First, the Local Qualifying Salary (LQS) will be raised to better support lower-wage workers. Specifically, the LQS for full-time local employees will be raised from $1,600 to $1,800. If you didn't already know, the LQS is the minimum salary that local employees must be paid in companies which hire foreign workers. Companies which do not comply with LQS requirements will not be allowed to renew or apply for work passes for its foreign workers. Second, the basic tier of the Workfare Skills Support (WSS) scheme, which aims to encourage lower-wage workers to undertake training, will be enhanced. While further details have yet to be announced, what we do know is that training allowance will be increased. Support for Mid-Career Workers This Budget 2026 also includes measures to support mid-career workers. And no, it's not to fund the registration fees for Hyrox, SCSM, or some other fitness race you signed up for while waist-deep in your mid-life crisis. The support which the government will be providing is to enhance the SkillsFuture Level-Up Programme. Courses will be more industry-relevant, and those undertaking part-time training will also be eligible for the mid-career training allowance. Support for Senior Workers Senior workers — don't worry, PM Wong didn't forget about you. To help support senior workers, the Senior Employment Credit (SEC) will be extended until the end of 2027. Under the SEC, employers who employ Singaporean senior workers are provided with wage offsets. This incentivises employers to continue employing senior workers, helping seniors who wish to continue staying active in the workforce to do exactly that. Support for Families Families with children will also be receiving additional support from Budget 2026. First, if you have a Singaporean child aged 12 and below, you’ll receive another $500 Child LifeSG (CLC) credit per child, on top of the $500 CLC announced last year. And just like the previous CLC, the $500 CLC announced in Budget 2026 can be used both online and offline for various household expenses. Second, for families with children in pre-school, the income ceilings for preschool subsidies will be raised, so that more families can qualify for these subsidies. Specifically, the monthly household income ceiling will be increased from $12,000 to $15,000, while the per capita income ceiling will be increased from $3,000 to $3,400. Additionally, changes in the income eligibility thresholds for the varying subsidy tiers also means that families might now receive higher subsidies. Third, the income ceilings for Student Care Fee Assistance will also be raised, so that more families can qualify for these subsidies as well. Specifically, the monthly household income ceiling will be increased from $4,500 to $6,500, while the per capita income ceiling will be increased from $1,125 to $1,625. Last, lower-income families with children can also look forward to enhanced ComLink+ support. This includes a new $500 quarterly payout for families who work towards their goals, and a greater proportion of cash support in existing ComLink+ packages. Support for Seniors Budget 2026 wouldn't be a Budget if there wasn't support for seniors. Aside from the increased support for senior workers we mentioned earlier, there are two other things that seniors should note from Budget 2026. First, if you’re a Singaporean aged 50 and above with CPF retirement savings below the basic retirement sum, you’ll be getting a CPF top-up of up to $1,500 in December 2026. The exact amount that you’ll receive for the top-up depends on your CPF balance and how much your home is worth. If your residence has an annual value of $21,000 or below, and your CPF retirement savings are less than $60,000, you'll be receiving the full $1,500 top-up. If your residence has an annual value of $21,000 or below, and your CPF retirement savings are $60,000 or more, you'll be receiving a $1,000 top-up. Last, if your residence has an annual value of more than $21,000 but not exceeding $31,000, you'll be receiving a $500 top-up. Second, if you’re a senior worker, you can also expect to contribute more to your CPF starting from next year. Yes, you have to contribute more, but the good news for you is that your employer also has to contribute more. For example, if you’re a worker aged above 55 to 60, your CPF contribution rate will increase by 1%, while your employers’ contribution rate will increase by 0.5% If you're a worker aged above 60 to 65, your CPF contribution rate will increase by 0.5%, while your employer's contribution rate will also increase by 0.5%. Overall, your CPF savings will grow faster, which is always a good thing.