PUBLISHED ONFebruary 06, 2025 3:39 AMBYChing Shi JieIn Matthew Lim's WhatsApp group chat with his National Service buddies, football banter and workout routines are frequently brought up.
But in the past year, their light-hearted conversations have taken a sombre turn after two of the 30-year-old's friends were laid off.
Lim, who has been in the tech industry for six years, is not feeling too confident about keeping his job either.
The recent news reports of mass layoffs in the once-booming tech sector, such as when consumer electronics giants Dyson and Samsung axed jobs last October, gave him the "chills."
"The price of a cup of kopi first went up by 20 cents, and now 50 cents," he told AsiaOne on Monday (Feb 3). "I'm not even concerned about a pay raise, but more about whether I will still have a job at the end of the year."
Lim and his friends may find some relief, however, when Prime Minister Lawrence Wong delivers the 2025 Budget statement on Feb 18 which will address some of Singaporeans' concerns, including cost of living and job security.
Training, skills, and jobs for workers are also slated to be one of the themes of the Budget, PM Wong, who is also the finance minister, added in the lead up to the last Budget before the general elections.
In last year's Budget, PM Wong announced a slew of measures to boost the workforce. This included a SkillsFuture credit top-up of $4,000 for Singaporeans aged 40 and above, as well as subsidies to pursue another full-time diploma at polytechnics, the Institute of Technical Education, and arts institutions.
More than 25,000 Singaporeans have since used the SkillsFuture credit top-up, said Minister of State for Education Gan Siow Huang in Parliament on Jan 8.
Along with the new temporary financial support for involuntarily unemployed workers, which will begin in April, Lim welcomes the government's existing measures to tackle job security concerns.
While the SkillsFuture credit top-up was targeted at mid-career Singaporean workers, Lim hopes that it will be extended to those in his age group.
All Singaporeans aged 25 years and above currently have an opening credit of $500. There was also a one-time top-up in 2020, which will expire by the end of the year.
Lim said that after using up his SkillsFuture credits in 2024, he laments losing out on the extra training programmes that would ensure his "relevance in the industry."
The Singaporean, who earns $6,000 a month, added that he hopes for more SkillsFuture credits for assurance that he would be able to be "in demand" with future employers-if he were to be retrenched.
"An incentive after improving our skills, like cash payouts, would be great too," he added.
Single mum Humaira Sulaiman, 40, works as a freelance talent artist. She takes home around $1,000 on "good months," but told AsiaOne they are few and far between.
Previously a teacher in an international school, Humaira left her full-time job three years ago to study for a bachelor's degree and "work on her mental health" after a divorce.
Humaira told AsiaOne that despite her other qualifications as a special education and early childhood teacher, she was left disillusioned when dozens of job applications went unanswered.
While she is considering work as a private-hire driver, Humaira said that she is hoping that PM Wong will announce better job-matching and career support for Singaporeans during Budget 2025.
On the rising cost of living, Humaira, who is a mother to a nine-year-old, said that it is "tough" dealing with the goods and services tax hike which went up from 8 per cent to 9 per cent on 1 Jan 2024.
She is currently spending around $3,900 a month on living expenses - which includes $240 on student care fees and $1,900 in rent for a master bedroom in Tampines.
In addition to receiving more cash payouts, Humaira hopes that CDC vouchers will be allocated to individual Singaporeans rather than to households.
"It's like first-come-first serve - anyone can claim the vouchers - since I'm living in a rental flat," she said.
Another on Humaira's Budget 2025 wish list - more priority schemes for Singaporeans with housing concerns.
Humaira applied for an rental flat under the Parenthood Provisional Housing Scheme (PPHS) while waiting for her two-room Build-To-Order (BTO) flat in Kallang to be completed in 2029.
While she received a queue number, Humaira was disappointed when it was her turn to select a flat.
She then rejected the remaining options available as they were in Tiong Bahru and Boon Lay, saying that these locations would be inconvenient for her primary school-going son.
"Renting through PPHS is relatively cheaper than in open market - less than $1,000," said Humaira. "But the downside is that the demand is more than the supply. But it's tougher than getting a BTO (Build-To-Order) flat. I'm fighting with young couples, those who are divorced or married."
Under the PPHS scheme, married couples with at least one child aged 18 and below, including expectant parents, will get priority in choosing a flat.
The Housing Board said in a press release last February that they would double the supply of PPHS flats from 2,000 to 4,000 by 2025.
Despite leaving the workforce for more than a year, retiree Chua, who declined to give her full name, finds herself busier than before.
Besides binge-watching Korean dramas at home, the 65-year-old joins the daily fitness classes organised by the new active aging centre under her block in Jurong West.
Chua also told AsiaOne that she is considering signing up as a volunteer for the centre's regular craft workshops.
The new active aging centres — some 60 in the past year — bring the total number to 214. This is part of the Age Well SG programme announced by PM Wong during Budget 2024.
He said that the government would set aside $3.5 billion over the next decade to help seniors keep active, access better care options, and live more independently in the community.
These include more Community Care Apartments, senior-friendly amenities in residential estates, and improvements to commuter infrastructure such as more sheltered linkways and senior-friendly bus stops and roads.
Ahead of this year's Budget, Chua said that she is hoping for more generous cash payouts for seniors to address the rising cost of living.
"They're saying it's an election budget, right?" she quipped in Chinese. "It would be impossible to receive cash from the government every month, so a one-off [voucher] is enough for me."
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