Issue #63: What’s Happening This Week? 10¢ Drink Deposit, Cherry Blossom Refund Guarantee, Retirement Age Rising, and More

Spring brings new beginnings, and this week’s round-up is no exception. Get ready for a shake-up at your favourite drink stalls as a small deposit changes the way we buy bottled and canned drinks. Travelling to see cherry blossoms? A fresh promise means you could be protected if nature doesn’t cooperate. Meanwhile, Singapore is rewriting the rules on retirement, calling time on outdated career paths, and making digital upskilling the new normal for public officers. Plus, essential skilled trades are stepping into the spotlight with a career boost that’s been a long time coming. Here’s your summary of all that’s happened and is happening this week.

Psst, missed last week’s issue? View all past editions of What’s Happening This Week? to catch up.

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Singapore to raise retirement and re-employment ages from July

Singapore is set to raise its official retirement age to 64 and the re-employment age to 69 from 1 Jul, with a goal of reaching 65 and 70 by 2030. This move aims to support longer careers as people live and work longer, while giving both employees and employers more certainty.

Key highlights:

• New retirement ages:
  • Retirement age: 64 (from 1 Jul 2026), targeting 65 by 2030
  • Re-employment age: 69, progressing to 70 by 2030
• Support for employers:
  • Senior Employment Credit and Part-Time Re-Employment Grant extended to end-2027
  • Wage offsets to help employers adjust to changes
• CPF enhancements:
  • CPF contribution rates for those aged 55–65 will rise from 2027
  • New CPF top-up of up to $1,500 for eligible Singaporeans aged 50+ with lower balances (to be paid in December)
• Coming soon:
  • A simplified, low-cost CPF investment scheme is expected by 2028, designed for long-term investors

These changes follow a steady increase in labour participation among those in their 60s, up from 58% to nearly 60% in the past five years. The government is also encouraging employers and employees to engage in regular career planning, supporting longer, healthier working lives.

ALSO READ: 6 Best Credit Cards for Retirees in Singapore

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Beverage container deposit: What to expect from Apr 2026

From 1 Apr 2026, Singapore’s Beverage Container Return Scheme (BCRS) will require a 10-cent deposit on most bottled and canned drinks. But there’s a twist—some dine-in restaurants and cafes won’t pass this fee to customers, while hawker centres and coffee shops likely will.

How it works:

• When the 10-cent deposit applies:
  • Dine-in at “Return Right F&B outlets”: No deposit charged if you return the container
  • Hawker centres, coffee shops, food courts: Deposit likely added to your bill
• How to get your deposit back:
  • Return containers marked with the “Deposit Mark” at reverse vending machines
  • Refunds to your ez-link card or DBS PayLah! wallet
• Support for businesses:
  • $500 one-off grant per food shop to help them adapt
  • Supermarkets and larger retailers will show prices without the deposit, which is added at checkout
• Special help:
  • NEA will work with community partners to help seniors and those with disabilities

While returning containers will be a bit of a hassle, the aim of this initiative is to encourage everyone to recycle and help build a greener Singapore together.

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New training academy to give 150,000 public officers a digital and AI boost

Singapore will launch the Institute of Digital Government (IDG) in Q3 2026, aiming to upskill over 150,000 public officers in digital, data and artificial intelligence. All public officers must take core modules on cybersecurity, data protection and AI literacy to ensure they’re ready for an increasingly digital workplace.

Key details:

• Who’s involved?
  • More than 150,000 public officers across all ministries and agencies
• What’s covered?
  • Mandatory foundational modules: cybersecurity, data protection, AI literacy
  • Targeted courses in product thinking, data governance, and AI applications
  • Digital training extends up to Cabinet ministers and senior public service leaders
• When?
  • Institute launches Q3 2026 (Jul–Sep 2026)
• Why it matters:
  • Ensures every officer can work effectively in a digital government
  • Supports Singapore’s broader digital and AI transformation push

This is part of a larger effort, including the National AI Impact Programme, which aims to make 100,000 workers “AI bilingual” and support 10,000 businesses in adopting AI by 2029.

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Klook launches cherry blossom refund guarantee for spring trips

Klook has become the first travel platform to offer a “Bloom Back Guarantee”, giving Singapore travellers a 30% refund if cherry blossoms don’t bloom during their Japan or South Korea trip—even if you book for peak Mar–Apr 2026! The move is in response to growing demand for seasonal getaways and the unpredictability of nature.

How it works:

• Add the “Bloom Back Guarantee” when booking eligible cherry blossom tours (code: FREEBLOOMBACK for free, limited time)
• If blooms don’t appear during the official forecast window, you’ll get 30% of your booking price back
• Simply submit a timestamped photo and claim within 10 days of your tour

Wondering why cherry blossom travel matters so much to Singaporeans? According to Klook’s Spring Readiness Index, Japan, Mainland China, and South Korea are top picks for spring getaways, with flexibility being a top priority.

• 62% of Singaporeans book spring trips less than two months ahead to stay flexible
• Most want a mix of big cities and quieter spots

To sweeten the season, Klook is also rolling out daily cherry blossom deals (up to $80 off), with bookings open from 10 Mar for trips between 6 and 24 Apr, subject to bloom conditions.

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Singapore to uplift skilled trades: New career ladders for electricians first

Singapore is making moves to boost skilled trades with structured career paths, starting with electricians from Mar 2026. The Ministry of Manpower (MOM), together with the Specialists Trade Alliance of Singapore (STAS), will launch new initiatives to help tradespeople progress in their careers and gain more recognition.

Why this matters:

• Skilled trades—like electricians, plumbers, and air-con specialists—are crucial for Singapore’s future economy, especially as the country goes green and adopts more technology.
• The workforce in these trades is ageing. Out of about 3,700 licensed electricians, roughly 1,400 are aged 60 and above.

What’s coming:

• Structured career ladders and apprenticeships for electricians
• Expansion to other building-related trades later
• New statutory board: Workforce and Skills Singapore (WSSG), merging Workforce Singapore and SkillsFuture Singapore, launching in Q3 2026

Big picture:

• MOM says skilled trades are less likely to be replaced by AI and offer resilient, hands-on career options
• No fixed wage targets yet, but wages will be monitored to ensure fair rewards for skills

This is part of Singapore’s broader push to value all kinds of work and create more pathways to success, no matter your background.

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Singapore market overview: Week ending 7 Mar 2026

This week, Singapore’s main stock market index—the Straits Times Index (STI), which tracks 30 of the largest listed companies—fell about 2%, closing at roughly 4,820. Investor sentiment was cautious, as worries about conflict in the Middle East rippled through global markets.

What moved the market

• Geopolitical tensions in the Middle East: Fears over the Iran crisis and related US-Israeli strikes led to a surge in oil prices, which spooked investors across Asia.
• Bank shares and major stocks under pressure: Local banks, which are a big part of the STI, lost ground. Big names like DBS, OCBC, and UOB all slipped by around 1–2%. National carrier Singapore Airlines and shipping stocks were also lower.
• Sea Ltd share slump: Shares of Sea Ltd, a major Southeast Asian tech group, dropped sharply after its profit outlook disappointed investors. Some analysts, however, viewed the drop as an overreaction, pointing to the company's long-term growth plans.
• Trading activity: Over 760 million shares changed hands on the Singapore Exchange, with more stocks falling than rising.

Global and ASEAN market impact

Global events played a big role this week. US and Israeli military actions against Iran triggered a "flight to safety", meaning investors rushed to safer assets like the US dollar and gold. Oil prices jumped about 15% in a week, hitting around US$81 a barrel, because key shipping lanes were closed off.

Regional currencies, including the Singapore dollar and Indian rupee, weakened against the US dollar, while other Asian stock markets (Japan, South Korea, Australia) saw sharp drops. South Korea’s main stock index had its worst two-day fall since 2008, reflecting global nervousness.

For Singapore, which imports nearly all its energy, higher oil and gas prices could mean more expensive electricity and transport in the coming months.

What this means for everyday investors

• Weekly swings in the market are normal, especially during global uncertainty.
• Big events overseas can quickly affect prices here, but markets often recover once the dust settles.
• Long-term investors should focus on fundamentals rather than short-term headlines.

ALSO READ: Gold Prices Smash New Record—Here’s How to Invest in Gold in Singapore

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That’s it for this week! Stay tuned for next week’s What’s Happening This Week to keep up with the latest in finance, business, and beyond. 

This article was first drafted with the help of AI and later reviewed and refined by the author.