The Government is aware of business cost pressures posed by an upcoming hike in Central Provident Fund contribution rates for older workers, as well as a rise in the retirement and re-employment ages, said Trade and Industry Minister Chan Chun Sing yesterday.
Speaking on the sidelines of a visit to wholesale distributor Hai Sia Seafood, he added that consultations are ongoing with business partners to understand their challenges, both on business costs and in the larger external environment.