Singapore to Raise CPF Rates and Retirement Age: National Day Rally 2019 Good news followed the National Day Rally 2019. Older workers will soon enjoy higher Central Provident Fund CPF rates and retirement age. Singapore Prime Minister Lee Hsien Loong announced that the retirement age will be progressively raised from 65 to 70 by 2030.…
Singapore’s Fund Transfer Service PayNow Will Soon to Be Rolled Out to Government Agencies Singapore is marching forward with its Smart Nation initiatives, its latest move involving PayNow. This service will bridge the final gap in e-payments. All government agencies will soon have access to PayNow, including statutory boards. Making payments from fines to school…
Singapore’s Padang to Become National Monument Along with Elgin, Anderson and Cavenagh Bridges The Padang, along with nearby Elgin, Anderson and Cavenagh bridges in Singapore will soon be recognised as national monuments. Padang is the de facto town square, home of Singapore’s National Day Parade this year. As the de facto town square, the Padang…
Mandatory Registration of Drones in Singapore All drones will soon require mandatory registration in Singapore, and failure to do so may result in harsher penalties for pilots. Pilots will also be required to abide by a new licensing framework, applicable if they operate larger drones. The registration of drones is likely to take place by…
Singapore’s Banking Liberalisation Progress Enters a New Chapter With Digital Financial Servicing Singapore’s visionary outlook will open doors to digital banking to help serve new segments of entrepreneurship and customer-oriented needs. Nations worldwide are working towards enhancing consumer needs in every aspect of their lives, even in this digital age. Living in a Digital…
The Monetary Authority of Singapore (MAS) Updates Its E-payments Guidelines Based on Customer Feedback Customers of financial institution can continue setting a threshold of e-payment notifications even when the guidelines take effect end of June 2019. Customers of financial institutions and banks are advised to receive an alert whenever the customer makes an electronic payment…