Local retail workers are set to get salary increases of 8.4 per cent to 8.5 per cent annually over the next three years under a proposed wage ladder to boost low wages in the sector.

This is expected to take effect from Sept 1 this year to Aug 31, 2025.

The wage increase is one of the recommendations announced by the Tripartite Cluster for Retail Industry  on Monday under the Progressive Wage Model.

Other key recommendations include minimum training requirements for all retail job roles under the model and a clear career progression pathway.

In The Straits Times The Big Story, Multimedia journalist Hairianto Dirman spoke with Scanteak CEO Jamie Lim to find out what these recommendations mean to retail employers, and the possible challenges in implementing them.

Local retail workers are set to get salary increases of 8.4 per cent to 8.5 per cent annually over the next three years under a proposed wage ladder to boost low wages in the sector.
This is expected to take effect from Sept 1 this year to Aug 31, 2025.
The wage increase is one of the recommendations announced by the Tripartite Cluster for Retail Industry  on Monday under the Progressive Wage Model.
Other key recommendations include minimum training requirements for all retail job roles under the model and a clear career progression pathway.
In The Straits Times The Big Story, Multimedia journalist Hairianto Dirman spoke with Scanteak CEO Jamie Lim to find out what these recommendations mean to retail employers, and the possible challenges in implementing them.

Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.

Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.

Money Matters with Hongbin Jeong and Chua Tian Tian

MONEY FM 89.3 is Singapore’s first and only Business and Personal Finance station. MONEY FM is a 24-hour English talk format station featuring local and international business and financial news. We provide you with financial market and currency updates and insights from analysts, economists, policy makers, industry experts and business owners.

In the lighter hours, listen to discussions on social issues and features on topics that include health, education, arts and music.

MONEY FM 89.3 is Singapore&rsquo;s first and only Business and Personal Finance station. MONEY FM is a 24-hour English talk format station featuring local and international business and financial news. We provide you with financial market and currency updates and insights from analysts, economists, policy makers, industry experts and business owners.
In the lighter hours, listen to discussions on social issues and features on topics that include health, education, arts and music.

MONEY FM 89.3 is Singapore’s first and only Business and Personal Finance station.

MONEY FM 89.3

Your evening guide to the day's most important topics — navigate the key events in politics, business, markets, wealth management, and top investment opportunities. Keeps you informed and ahead of the curve, daily.

Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)

ST: The Big Story, Aug 15 - Reaction to retail staff's 8.4-8.5% annual pay increases over next 3 years

Investor interest in space is growing rapidly, driven by falling launch costs, expanding satellite constellations, and high-profile scientific discoveries like NASA’s Curiosity rover.

With commercial programs scaling globally and technologies such as Earth observation and in-orbit servicing coming online, the focus is on identifying companies that can turn these opportunities into predictable, scalable revenue streams.

On The Wealth Tracker, Hongbin Jeong speaks to Alexandra Vidyuk, General Partner at Beyond Earth Ventures, to discuss how investors can identify the most promising opportunities and navigate the risks in the evolving space market.

Investor interest in space is growing rapidly, driven by falling launch costs, expanding satellite constellations, and high-profile scientific discoveries like NASA&rsquo;s Curiosity rover.
With commercial programs scaling globally and technologies such as Earth observation and in-orbit servicing coming online, the focus is on identifying companies that can turn these opportunities into predictable, scalable revenue streams.
On The Wealth Tracker, Hongbin Jeong speaks to Alexandra Vidyuk, General Partner at Beyond Earth Ventures, to discuss how investors can identify the most promising opportunities and navigate the risks in the evolving space market.

Wealth Tracker: Are commercial space programs poised to deliver returns for investors?

Would you spend thousands on a candle that claims it can change your destiny or shove someone out of the way in the middle of Shibuya Crossing just to get through a crowd?

On today’s episode of What’s Trending, Hongbin Jeong and Alexandra Parada look at the Chinese influencer who earned over 50 million yuan selling luxury “wish candles” that promised love, luck, and career success before she was arrested for fraud. Also, they discussed the viral video out of Tokyo showing a little girl being shoved to the ground by a passer-by while taking a photo at the world-famous crossing, sparking outrage and renewed discussion about deliberate bumping in crowded spaces.

Would you spend thousands on a candle that claims it can change your destiny or shove someone out of the way in the middle of Shibuya Crossing just to get through a crowd?
On today&rsquo;s episode of What&rsquo;s Trending, Hongbin Jeong and Alexandra Parada look at the Chinese influencer who earned over 50 million yuan selling luxury &ldquo;wish candles&rdquo; that promised love, luck, and career success before she was arrested for fraud. Also, they discussed the viral video out of Tokyo showing a little girl being shoved to the ground by a passer-by while taking a photo at the world-famous crossing, sparking outrage and renewed discussion about deliberate bumping in crowded spaces.

What’s Trending: A candle that brings back your ex..... and a kid got shoved at Shibuya?

Singapore’s total fertility rate has fallen to a historic low of 0.87, raising fresh concerns about whether the nation is heading toward long-term population decline. Despite years of pro-family policies and generous financial incentives, birth rates continue to slide, with Deputy Prime Minister Gan Kim Yong warning that the citizen population could start shrinking by the early 2040s without intervention.

So what’s really driving Singaporeans to have fewer children? And if incentives fall short, will immigration be enough to offset the decline, and at what cost?

On The Big Story, Hongbin Jeong speaks with Dr Norman Li, Psychology Professor, Singapore Management University, to find out more. 

Singapore&rsquo;s total fertility rate has fallen to a historic low of 0.87, raising fresh concerns about whether the nation is heading toward long-term population decline. Despite years of pro-family policies and generous financial incentives, birth rates continue to slide, with Deputy Prime Minister Gan Kim Yong warning that the citizen population could start shrinking by the early 2040s without intervention.
So what&rsquo;s really driving Singaporeans to have fewer children? And if incentives fall short, will immigration be enough to offset the decline, and at what cost?
On The Big Story, Hongbin Jeong speaks with Dr Norman Li, Psychology Professor, Singapore Management University, to find out more.&nbsp;

ST: The Big Story, Aug 15 - Reaction to retail staff's 8.4-8.5% annual pay increases over next 3 years

In 2 playlist(s)

Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)

Social links

Follow podcast

Recent clips