--- title: Labour Policies, CPF Reforms, and the Fight for Local Talent - Discussion with Jeremy Tan description: Join The Financial Coconut for insights on personal finance, investing, and wealth-building strategies. Start your path to financial literacy today! image: https://www.thefinancialcoconut.com/hubfs/image-png-Apr-30-2025-10-07-07-3313-AM.png --- [Skip to content](https://www.thefinancialcoconut.com/blog/ge2025-jeremy-tan-cpf-reforms#main-content) [![Full_COlour](https://www.thefinancialcoconut.com/hs-fs/hubfs/Full_COlour.png?width=456&height=80&name=Full_COlour.png)](https://www.thefinancialcoconut.com/) - [Retirement Marketspace](https://retirementmarketspace.thefinancialcoconut.com/) - [Events](https://www.thefinancialcoconut.com/events) Show submenu for Events - [For Investors](https://tfcmysterymeetup.com/) - [For Business Owners & Creators](https://ipcreatorunite.peatix.com/) - [For Salaried Workers](https://www.thefinancialcoconut.com/thought-leadership-series) - [TFC Events](https://www.thefinancialcoconut.com/events) - [Shows](https://www.thefinancialcoconut.com/tfc-shows) Show submenu for Shows - [Wise and Shine](https://www.thefinancialcoconut.com/wise-and-shine) - [The Business Show](https://www.thefinancialcoconut.com/tfc-business-show) - [Chills with TFC](https://www.thefinancialcoconut.com/chills-with-tfc) - [Blog](https://www.thefinancialcoconut.com/blog) Show submenu for Blog - [Work Smart](https://www.thefinancialcoconut.com/worksmart) - [Invest](https://www.thefinancialcoconut.com/invest) - [Retire Well](https://www.thefinancialcoconut.com/retire-well) - [Business](https://www.thefinancialcoconut.com/business) Open main navigation Close main navigation - [Retirement Marketspace](https://retirementmarketspace.thefinancialcoconut.com/) - [Events](https://www.thefinancialcoconut.com/events) Show submenu for Events - [For Investors](https://tfcmysterymeetup.com/) - [For Business Owners & Creators](https://ipcreatorunite.peatix.com/) - [For Salaried Workers](https://www.thefinancialcoconut.com/thought-leadership-series) - [TFC Events](https://www.thefinancialcoconut.com/events) - [Shows](https://www.thefinancialcoconut.com/tfc-shows) Show submenu for Shows - [Wise and Shine](https://www.thefinancialcoconut.com/wise-and-shine) - [The Business Show](https://www.thefinancialcoconut.com/tfc-business-show) - [Chills with TFC](https://www.thefinancialcoconut.com/chills-with-tfc) - [Blog](https://www.thefinancialcoconut.com/blog) Show submenu for Blog - [Work Smart](https://www.thefinancialcoconut.com/worksmart) - [Invest](https://www.thefinancialcoconut.com/invest) - [Retire Well](https://www.thefinancialcoconut.com/retire-well) - [Business](https://www.thefinancialcoconut.com/business) - [Contact us](https://www.thefinancialcoconut.com/contact-us) [Contact us](https://www.thefinancialcoconut.com/contact-us) Apr 30, 2025, 6:16:34 PM # Labour Policies, CPF Reforms, and the Fight for Local Talent - Discussion with Jeremy Tan ![Picture of The Financial Coconut](https://www.thefinancialcoconut.com/hs-fs/hubfs/Square%20(2)-3.png?width=50&name=Square%20(2)-3.png) [The Financial Coconut](https://www.thefinancialcoconut.com/blog/author/the-financial-coconut) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://www.thefinancialcoconut.com/blog/ge2025-jeremy-tan-cpf-reforms) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://www.thefinancialcoconut.com/blog/ge2025-jeremy-tan-cpf-reforms) [envelope icon](mailto:?body=https://www.thefinancialcoconut.com/blog/ge2025-jeremy-tan-cpf-reforms) [Share this page](https://twitter.com/intent/tweet?url=https://www.thefinancialcoconut.com/blog/ge2025-jeremy-tan-cpf-reforms) [![Follow The Financial Coconut](https://no-cache.hubspot.com/cta/default/46975693/interactive-182431637553.png)](https://cta-service-cms2.hubspot.com/web-interactives/public/v1/track/redirect?encryptedPayload=AVxigLL2CjCe42iR2RH2MpVX0Ej%2BKJQ%2F3A0Z7pXnUs35To%2Bo6nbKcpBVq9I98X5NUungVEwfs5YCKuM%2FaP97VxIITkTlihT57%2F%2F4XDW9rT3VR4MatSLDi%2BMU5mbQqihfX3LRRz83ij8K19OiD8UXy8sdct4t0Q%3D%3D&webInteractiveContentId=182431637553&portalId=46975693)   Singapore’s economic engine is sputtering. With an aging workforce, rising competition from foreign talent, and a CPF system under scrutiny, the GE2025 election has ignited fierce debates about the future of work and wealth. In a no-holds-barred panel discussion on [*TFC GE2025 Special*](https://youtube.com/playlist?list=PLpo30qPT9yc5sctuOIXj_dCohV0ZScgpv&feature=shared), experts dissected the policies—and pitfalls—shaping Singapore’s labor landscape. ![CPF accounts of 300,000 foreigners will close from April 1, 2024](https://thesun.my/binrepository/p10-afp_3027072_20230309185358.jpg) ### **CPF: Safety Net or Straitjacket?** The Central Provident Fund (CPF) dominated the conversation, with panelists split on its role. **Anthony Ong**, TFC Co-host and Retail Investor, argued, *“CPF isn’t my retirement plan—I focus on building wealth beyond it.”* He criticised its rigidity, noting that younger Singaporeans view it as a “safety net with holes,” given uncertain long-term governance. **Eddy Hirono,** a lawyer and founder of SailorFanTalk, took a harsher stance: *“CPF is paternalistic. It stifles creativity and ownership. We’re training a generation to rely on the state instead of innovating.”* *![Get To Know The New Under-35 Candidates Of GE2025 - 8days](https://dam.mediacorp.sg/image/upload/s--crHPnehU--/c_lfill,dpr_2.0,g_face:auto,h_800/f_auto,q_auto/v1/mediacorp/8days/image/2025/04/29/12_ge2025_jeremy_tan.jpg?itok=lgMCVvUP)* Meanwhile,[**Jeremy Tan**](https://jeremytan.sg/), Independent Candidate for Mountbatten SMC 2025, defended CPF’s intent but acknowledged flaws: *“The system should adapt to gig economies and non-linear careers, not just traditional salaried roles.”* [![](https://www.thefinancialcoconut.com/hs-fs/hubfs/image-png-Apr-30-2025-10-07-07-3313-AM.png?width=841&height=367&name=image-png-Apr-30-2025-10-07-07-3313-AM.png)](https://www.youtube.com/watch?v=KLFEvpg9pJI)   ### **Foreign Talent: Boon or Brain Drain?** The panel clashed over Singapore’s reliance on foreign professionals. **Anthony** highlighted a visceral frustration: *“Companies hire cheaper foreign grads, displacing locals. A 48-year-old retrenched worker can’t compete with a 23-year-old overseas hire, even with reskilling subsidies.*  **Jeremy** proposed radical solutions: - **“1 EP per $100k local salary”:** Companies earn Employment Pass quotas by investing in local talent. - **“Train-to-replace” programs:** Incentivize firms to upskill Singaporeans for specialized roles. **Eddy** warned of unintended consequences: *“Protectionism could deter global investors. But without safeguards, our workforce becomes a revolving door for transient talent.”* Catch the livestream playback here ### **Education: Mismatched Skills, Missed Opportunities** The panel lambasted Singapore’s education system for prioritising conformity over creativity. **Anthony** shared an anecdote: *“A parent told me, ‘My kid wants to start a business, but I’m forcing law school—it’s safer.’ That mindset kills innovation.”* **Jeremy** echoed the sentiment: *“MOE’s 21st Century Competency Framework sounds great on paper—self-directed, resourceful learners—but the system still rewards rote memorisation.”* He cited the story of Neil Tan, a viral example of a student pressured into traditional paths despite entrepreneurial ambitions. **Eddy** called for systemic change: *“We need to stop churning out ‘PR-ready’ graduates and start nurturing problem-solvers. Let’s teach kids to build companies, not just resumes.”* ![Lack of required skills, mismatched salary expectations make tech, nursing vacancies hard to fill, say recruiters - TODAY](https://dam.mediacorp.sg/image/upload/s--g3lu2B0U--/f_auto,q_auto/c_fill,g_auto,h_622,w_830/v1/mediacorp/tdy/image/2022/07/29/20220729_raj_nurses3.jpg?itok=XIraVeE8) ### **Retrenchment & Reskilling: Too Little, Too Late?** Retrenchment policies faced sharp criticism. **Anthony** highlighted a loophole: *“Firms abuse the $600 reskilling grant. They ‘interview’ laid-off workers while hiring cheaper foreign talent.”* **Jeremy** proposed accountability measures: *“Tie grants to outcomes. If a company retrenches, claw back subsidies unless they prove genuine upskilling efforts.”* **Eddy** questioned the viability of reskilling older workers: *“A 45-year-old retrained in AI competes with 25-year-olds who’ve coded since childhood. It’s demoralising and impractical.”*  ![Singapore postcard](https://www.roots.gov.sg/CollectionImages/1191776.jpg)   ### **The “Postcard City” Dilemma: Who Benefits?** The panel debated whether Singapore’s policies favour global elites over locals. **Anthony** quipped, *“We roll out the red carpet for foreign wealth but ignore the ‘food-insecure seniors’ highlighted in STP’s manifesto.”* **Jeremy** warned of a growing divide: *“We’re becoming a playground for the rich while locals struggle with stagnant wages. That’s not sustainable.”*   #### **A Call for Bold Stewardship** Singapore stands at a fork in the road: double down on globalisation or prioritise local resilience. As **Eddy** put it, *“Policies must balance openness with fairness. We can’t be a hub for global talent if our own people feel left behind.”*  With GE2025 looming, voters face a choice: incremental tweaks or systemic overhaul. The panel’s consensus? *“The CPF isn’t broken—it’s outdated. Foreign talent isn’t the enemy—it’s mismanaged. And the education system? It’s a relic of the past.”* The future hinges on who dares to reimagine it. Let us know what you think about this [topic](https://www.thefinancialcoconut.com/blog/tag/singapore-general-election), and what do you want to hear next. Read more on these party policies breakdown on: - [Full guide comparison on Party's Manifesto - CPF, Housing, Retirement, Wages, etc](https://www.thefinancialcoconut.com/blog/guide-to-the-2025-singapore-election-manifestos) - [Party's Manifestos](https://www.thefinancialcoconut.com/blog/singapore-general-election-manifestos) - [Party's CPF Plans for Singapore](https://www.thefinancialcoconut.com/blog/ge2025-cpf-and-your-retirement) - [Housing comparison](https://www.thefinancialcoconut.com/blog/ge2025-housing-hdb-party-plans) - [Healthcare](https://www.thefinancialcoconut.com/blog/ge2025-healthcare-policy-comparison) - [PMETs & Career](https://www.thefinancialcoconut.com/blog/ge2025-for-pmet) - [Digital Economy Policies](https://www.thefinancialcoconut.com/blog/ge2025-digital-economy-policies) - [Aspirations of Singapore’s Gen-Z, Millennials & Gen-X Workforce](https://www.thefinancialcoconut.com/blog/ge2025-aspirations-for-singapore-generations) - [Balancing Ambition with Financial Realities](https://www.thefinancialcoconut.com/blog/ge2025-balancing-ambition-with-financial-realities) - [Redefining Family and Social Success in Singapore's GE2025 Manifestos](https://www.thefinancialcoconut.com/blog/ge2025-for-family-and-social) You can now be our community contributor and make a [pitch ](https://thefinancialcoconut.com/contact/)to have your favourite personality be on our show. 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