I would be honestly surprised if there’s anyone in Singapore who still doesn’t know what ‘sandwiched class’ means. In their reports about yesterday’s Budget, every single paper and TV channel referred to this ‘sandwiched class’ and highlighted all the different perks this ‘sandwiched class’ was getting.
In case you honestly don’t know what ‘sandwiched class’ means, here’s what Wikipedia has to say: Very generally, the sandwich class consists of lower-middle-class people who feel “squeezed” — although they are not poor, they are not able to achieve their aspirations as people with a higher income.
So basically, ‘sandwiched class’ refers to almost everyone in Singapore lah. And why should all of us sandwiches rejoice then?
Because apparently, we’re getting a whole lot of new benefits from Mr. Tharman Hood himself. Here’s the run-down
If you’re a simple sandwich with no kids and don’t need to take care of parents…
– Free ‘SkillsFuture’ Credit of $500 for us to sign up for courses that can be practical (like carpentry and accounting) or impractical (trigonometry and HR management)
– Gahmen will co-pay for salary increments, so your boss will be happier to give you an increment since it costs less
– CPF salary ceiling increased to $6k. Short-term pain, long-term gain I think!
– Increased cap in Supplementary Retirement Savings, which is another way of getting a tax rebate!
– Additional 1% interest for first $30k of CPF, when you hit 55. Free money just take.
– GST voucher increased by $50. Free money!
– Rebates in S&CC. WeePee GRC don’t need, because they don’t need to pay S&CC anyway!
– Personal Income Tax rebate. WOOHOO. Free money again!
If you’re a sandwich with aged cheese (need to take care of parents) will get these additional stuff…
– Parents will get Seniors Bonus, which is twice the GST voucher. Free money!
– Parents older than 65 will get an additional $300. Free money, again!
Sandwiches with fresh tomatoes (those with kids) will get these additional stuff…
– Top-ups to Child Development Accounts. Free cash for your kids that covers education and healthcare.
– Free exams from PSLE to A levels. Seriously overdue but at least they finally got around to it.
– Free $150 to Edusave account. Free money, but I think can only use for CCAs.
– Free $500 to Post-Secondary Education Accounts, which parents can use for Uni, JC, Poly and ITE fees.
– Cut in maid levy. Yay, if Indons don’t cut off their maid supply!
Wow. That’s a whole long list of stuff. Free money to help in education, free money to help people retire, and in some cases – free cash for us to buy things.
No wonder everyone is saying that the sandwiches in Singapore should be happier.