CPF top-ups, higher allowances to boost financial stability of athletes

New scholarship also among initiatives to make sport a more viable, attractive career

- Deepanraj Ganesan

In a bid to make sport a viable and attractive career path for Singaporeans, the Government will enhance its support to national athletes through a slew of initiatives.

From Sept 1, they will be able to apply for the spexEducation Undergraduate Scholarship Programme via two tracks the dual-career path for athletes pursuing their studies while training and competing, and the new-career track for those who choose to study after retiring from competitive sport.

The programme was announced by Prime Minister Lawrence Wong in April. Details were revealed by Minister for Culture, Communityand Youth Edwin Tong during a speech at a post-National Day Rally engagement session for more than 300 people at the Singapore Sports Hub on Aug 21.

Also among the initiatives announced were an increase in the Sports Excellence Scholarship (spexScholarship) stipend from April 1, 2025, and the introduction of monthly top-ups to scholarship holders' Central Provident Fund (CPF) accounts.

Mr Tong said the allowance adjustments will bolster the financial stability of athletes and para-athletes, as those who compete full time at the highest levels often have to "forgo the opportunity that most of us have, which is to accumulate savings, including CPF".

To address this, 20 per cent of the athletes' increased stipend will go into their CPF accounts, and Sport Singapore (SportSG) will contribute another 17 per cent to their CPF.