Providing employers with continued support to hire older Singaporean workers.
The Special Employment Credit (SEC) was introduced as a Budget Initiative in 2011 to support employers, and to raise the employability of older Singaporeans. It was enhanced in 2012 to provide employers with continued support to hire older Singaporean workers and Persons with Disabilities (PWDs). At Budget 2016, the SEC was extended for three years (viz. 2017 to 2019) to provide wage offsets to employers hiring Singaporean workers aged 55 and above, and earning up to $4,000. The Minister for Finance announced a further one-year extension of SEC to end-2020 at Budget 2019.