Budget 2025: Key initiatives to boost jobs, skills, and career growth in Singapore

Big changes are happening in the workplace, and Prime Minister Lawrence Wong wants to make sure we’re all ready to keep up! With rapid advancements in technology—especially AI—jobs and industries are evolving fast.

That’s why Budget 2025, themed "Onward Together for a Better Tomorrow," focuses on empowering workers at every stage of life with lifelong learning and career support.

“One thing is clear,” Mr Wong said in his Budget Statement on 18 February 2025, “our workers must be equipped with the skills needed to stay competitive and relevant.”

So, what does Budget 2025 mean for workers? Here are five key takeaways:

1. More support for companies to train and upgrade their workforce

The Government is doubling its support for companies that invest in workforce transformation! An additional $200 million will be added to NTUC’s Company Training Committee (CTC) Grant to help businesses upgrade their workforce.

The grant will now also cover employer-led training that leads to formal qualifications for workers. Plus, a new SkillsFuture Workforce Development Grant will consolidate existing workforce transformation schemes, with up to 70 per cent funding for job redesign activities.

2. Lifelong learning for all

Workers of all ages will get more support to pick up new skills!

Mid-career workers (40 & above): The SkillsFuture Level-Up Programme is expanding! From early 2026, those in part-time training can receive a $300 monthly training allowance.

Lower-wage workers (30 & above): The Workfare Skills Support scheme will be enhanced, offering a training allowance of up to 50 per cent of their average monthly income for full-time training, and $300 per month for part-time courses.

For students and lifelong learners: The Singapore Universities Trust will be extended by 10 years to support fundraising for newer autonomous universities, and a new city campus for the Singapore University of Social Sciences (SUSS) will be developed to champion lifelong learning.

3. Better job support for jobseekers

Losing a job is tough, but there’s now stronger job-matching support across the island!

Not only will the SkillsFuture Jobseeker Support (JSS) will launch in April 2025, the Community Development Councils (CDCs) will be expanding their job-matching services to help jobseekers find work closer to home, making it easier to balance work and family commitments.

4. Helping seniors stay in the workforce

Good news for older workers! The Government is increasing CPF contribution rates for workers aged 55 to 65 by 1.5 percentage points in 2026.

To encourage businesses to hire more seniors, the Senior Employment Credit (SEC) will also be extended until 2026. Plus, a new Tripartite Workgroup on Senior Employment will be set up to review policies and improve opportunities for older workers.

5. A second chance for ex-offenders

The Government is extending the Uplifting Employment Credit (UEC) until 2028 to help ex-offenders reintegrate into the workforce.

In 2024 alone, this scheme helped nearly 700 employers hire over 1,500 ex-offenders—a great step towards inclusivity!

6. [Bonus] Celebrating Singaporeans' contributions with SG60 Vouchers

We know you are definitely aware about this, which is why we are putting it last.

To commemorate Singapore's 60th birthday, the Government will disburse $600 worth of SG60 Vouchers to citizens aged between 21 to 59 this year, and $800 for those aged 60 and above.

The SG60 Vouchers can be used at all participating CDC partner merchants, so look out for them this July!

A Budget for all Singaporeans

Every generation has worked hard to build Singapore’s success, and Budget 2025 is all about ensuring a brighter future for all. Mr Wong emphasised: “Singaporeans are at the core of everything we do.”

With these new initiatives, workers can feel confident about facing the future—equipped, supported, and ready to thrive!

Want to save on your training costs even further? Sign up as an NTUC member and access our Union Training Assistance Programme (UTAP) today.