Lawrence Wong

Deputy Prime Minister Lawrence Wong delivering his speech at the IPS Singapore Perspectives Conference on Jan Institute of Policy Studies. Deputy Prime Minister ...

In the end, we have to learn to compromise." "Work is more than just a source of income. "It doesn't mean that we work less hard... There also continues to be a preference for “branded” jobs that confer higher status in life, he said. that we sit back and smell the roses," he said. "There’s no need to compare with others... "As a small, open economy, we will have a very competitive economy, and we will have to work hard to make a living and stay relevant — that is the reality. "I wish things were different," Mr Wong continued. He added that the Government will need to "review our policies and strengthen our institutions to ensure that work remains a central way for Singaporeans to thrive". He said that the Government has "evolved" the CPF system over the years to help Singaporeans earn and save more for retirement. He added that everyone should try to appreciate and recognise one another for who they are and that "at the end of day, everyone is different; we are each blessed with unique gifts and talents". - Mr Wong urged everyone else to "value one another, and accord dignity and respect to everyone for the work they do"

Wong was addressing challenges in the future of work, such as in providing retirement security for older workers.

Those unable to work will be cared for by the government, he affirmed. This is especially for older, mid-career workers. And for those who do not have the ability to work, or the runway to work and save through the CPF system, we will find ways to take care of you." As such, the government will pay more attention to jobs for ITE and polytechnic graduates, with the aim of making every profession "viable" and "rewarding". "But importantly, each of us — parents, teachers, colleagues, and friends — all of us must do our part to recognise and value one another, and accord dignity and respect to everyone for the work that they do," he said. And that's why we will have to manage this economic restructuring carefully, and the government will do whatever we can to provide support during the transition." "Ultimately, we want to be able to assure all Singaporeans: as long as you work and contribute consistently to your CPF, you will be able to meet your basic retirement needs. Meanwhile, Wong reassured Singaporeans that the government will find ways to take care of those without the ability to work, or the runway to work and save through the CPF system. To help this group, Wong said the government "will study how best to help them meet their basic retirement needs". For instance, despite more recent enhancements in the CPF system, workers in their 50s and 60s may have "limited runway to work, save, and benefit" from the CPF system. As such, the government will consider ways to bolster retirement security, and assure Singaporeans that they can meet their basic needs in retirement. The government wants to assure all Singaporeans that they will be able to meet their basic retirement needs as long as they work and contribute consistently to their Central Provident Fund (CPF) accounts, said Deputy Prime Minister and Finance Minister Lawrence Wong.

The Govt will find ways to take care of those unable to work, or who do not have the runway to save through the CPF system, he said.

Mr Wong added: “We also want to provide workers with access to their own data on their skills and competencies, as well as the areas of future industry demand and growth, so that workers can be empowered and take greater responsibility to plan their own careers.” Not everyone will benefit equally from these changes. Mr Wong noted the challenges that Singapore’s workforce and labour market are facing, such as technological advancements that are disrupting industries everywhere, leading to a change in the nature of jobs, as well as new jobs.

The recent online debate about whether Charles & Keith is a luxury brand appeared as part of Deputy Prime Minister Lawrence Wong's speech about career ...

"And what is deemed 'branded'? "But we should all try to appreciate and recognise one another for who we are. We are each blessed with unique gifts and talents. As such, Wong proposed three strategies to overcome these challenges. Wong also highlighted the need to shift perceptions and embrace a "broader definition of what counts as 'good jobs'", as opposed to simply focusing on "paper qualifications" over skills and competencies. "What is deemed 'branded'?"

Wong also said that the government was codifying an anti-discrimination employment act that encompasses "sex, race, religion and age."

So we are taking actions with regard to legislation." So that's how we are thinking about strengthening our retirement system and giving everyone peace of mind all the time." Tambyah further posed the following question, "Would anyone actually want to be operated on by a 70-year-old neurosurgeon? "Consistently means at least you have a stable job. "We want every employer to make sure that when they hire, when they promote, when they appraise their staff, it's purely on the basis of work and merit, which ought to be the case. He added, "The basis of this question is the narrative seems to be that we need to keep working and if we are unable to do a particular job, we've got to retrain."

Deputy Prime Minister Lawrence Wong said on Jan. 16 that the majority of workers in Singapore want to work longer, as long as they are healthy.