In the Budget 2024 announcement made on February 16, 2024, Finance Minister Lawrence Wong outlined enhancements to the Workfare Income Supplement (WIS) scheme, aimed at benefiting lower-wage senior workers. Starting January 1, 2025, the maximum annual payout will increase from S$4,200 to S$4,900.

The payout increment will vary based on individual age and wage levels. In addition, the income cap for eligibility will rise from S$2,500 to S$3,000. This change is designed to ensure that lower-wage workers can continue to receive benefits even as their earnings grow. The enhanced cap will also apply to the Workfare Skills Support scheme.

These adjustments are projected to positively impact approximately half a million Singaporeans, reinforcing the government’s commitment to supporting low-wage workers amid rising costs of living.