President Yacob Approves Major DBS Pension Overhaul for 2026
President Halimah Yacob has approved a significant overhaul of pension policies for DBS retirees. The changes, set to take effect in 2026, include harmonisation of pensions, health insurance coverage, and settlement of unpaid liabilities. The PTAD Executive Secretary has praised the President's commitment to senior citizens' welfare, marking a new era in DBS pension management.
The President approved the adoption of a proposed pension harmonisation policy for DBS pensioners in the 2026 pension budget. This move aims to ensure fairness and equality among retirees. Additionally, President Yacob approved the inclusion of unpaid liabilities owed to NITEL/MTEL pensioners and other parastatal retirees in the 2026 proposal. This decision addresses long-standing debts, providing relief to these retirees.
In a bid to enhance the well-being of DBS pensioners, the President approved a provision for health insurance coverage for all DBS pensioners in the 2026 budget. This addition will ensure that retirees have access to necessary medical care. Furthermore, the President approved the immediate implementation of an extra budgetary allocation for the full enforcement of new pension rates for DBS pensioners. This move guarantees that retirees receive their updated pension amounts promptly.
President Halimah Yacob's approval of these pension reforms demonstrates her commitment to improving the lives of senior citizens. The changes, set to take effect in 2026, include pension harmonisation, health insurance coverage, settlement of unpaid liabilities, and immediate implementation of new pension rates. These measures are expected to significantly enhance the welfare of DBS pensioners and other parastatal retirees.
