#ndrsg 5 Things you should know

about National Day Rally

BELIEVING IN , PIONEERING OUR FUTURE

Prime Minister delivered his National Day Rally speech on Sunday evening (Aug 17) at the ITE Headquarters to address fellow Singaporeans on our key challenges and directions for the future.

This year, PM touched on giving our youth more opportunities to pursue their dreams and reassured Singaporeans regarding their retirement adequacy. He also announced plans and projects to make Singapore a better home for all ages.

HONOURING OUR PIONEER GENERATION

PM paid tribute to our Pioneer Generation for their selfless dedication and sacrifice to make Singapore what it is today.

PM also paid special tribute to Singapore’s first president Encik Yusof bin Ishak for the enduring values he stood for to build a meritocratic, multi-racial and modern Singapore.

PM announced that we will be honouring Encik Yusof in three ways. Firstly, a new in Woodlands will be named Masjid . Second, the Institute of Southeast Asian Studies (ISEAS) will be renamed as “ISEAS – The Yusof Ishak Institute”. Third, we will set up a Yusof Ishak Professorship in Social Sciences in NUS.

ACHIEVING OUR POTENTIAL

With an added emphasis on polytechnics and ITE students this year, the ASPIRE committee, chaired by Indranee Rajah, will help to develop paths for further education, skills development, career progression and continuous skills upgrading. PM added that the committee will be releasing its recommendations soon.

Urging our youth to acquire relevant skills and to upgrade themselves throughout their careers, he said a multi-stakeholder collaboration involving educational institutions, government agencies, companies and unions will help our people to achieve their full potential. A tripartite committee headed by DPM Tharman will outline and drive these goals.

ASSURANCE IN RETIREMENT

We must also give assurance to those in need, especially our elders. CPF and home ownership are the twin pillars of retirement adequacy. CPF, in particular, is a good scheme which has served us well. It is a tripartite effort involving workers, employers and the Government jointly building a retirement nest egg.

The Government will improve the system further, to provide Singaporeans with greater peace of mind.

PM also announced that the Lease Buyback scheme will be extended to four-room flats. With this enhancement, more than half of all flat owners in Singapore will be able to exercise this option during their retirement.

In another significant first, PM announced a new scheme, Silver Support, to provide more assistance for elderly Singaporeans who do not have much retirement savings. Seniors who qualify will receive a bonus to help them with their living expenses, starting from age 65. More details of the scheme will be announced at next year’s Budget.

For those who wish to have greater flexibility in their use of CPF funds, the Government will study the option of allowing retirees to take out part of the CPF savings in a lump sum, subject to limits. The Manpower Ministry (MOM) will continue to study changes to the CPF system. These changes are complex and an advisory panel will be set up to study them. MOM will announce more details soon.

A Better Home for All

With opportunities for our youth and retirement assurance for our seniors, Singapore will be the best place in the world to live, work and play.

PM announced the setup of a Municipal Services Office to coordinate multiple agencies so that we can serve members of the public better.

He also outlined plans to rejuvenate the Jurong Lake District. A new Jurong Lake Gardens will be created by integrating the Chinese Gardens, Japanese Gardens and Jurong Lake Park. NParks will invite design ideas next year. A new Science Centre will be built near the Chinese Garden MRT station, and it will be a “Jewel” in Jurong.

Jurong Lake District will be transformed.

BELIEVING IN SINGAPORE

PM concluded by saying that:

"We have all contributed to the Singapore Story.

At the heart of this Story is our BELIEF in Singapore.

BELIEF that we can turn vulnerability and despair into confidence and hope.

BELIEF that from the trauma of Separation we could build a modern metropolis and a beautiful home.

BELIEF that whatever the challenges of this uncertain world, we can thrive and prosper as one united people.

Let this belief and spirit burn bright in each one of us and guide us forward for another 50 years and more. Together, let us be the pioneers of our generation.

Together, let us create a better future for all Singaporeans!"