In 2025, financial support schemes are rolled out by the Singapore government for their aging citizens to alleviate costs of living. This includes the Assurance Package (AP) Seniors’ Bonus, MediSave top-ups and the Silver Support Scheme. Eligible seniors will receive up to S$1,080 per quarter based on their situation. Here is everything that seniors should know about eligibility, how much they can receive, and when the payment will be made.
Assurance Package (AP) Seniors’ Bonus
Assurance Package (AP) Seniors Bonus The Assurance Package Seniors’ Bonus is a direct cash payment to lower-income seniors in Singapore. To be eligible, seniors must also fulfil criteria such as being citizens of Singapore who are at least 55 years of age in the year 2025 and having an assessable income in the Year of Assessment 2023 of not more than S$34,000. Besides, they should not own more than one property, and the annual value of their residence should not exceed S$31,000.
Those living in properties with an annual value up to S$21,000 will receive S$300, while those that have homes with an annual value that lies between S$21,001 and S$31,000 will receive S$200.
The dates for disbursement of payment are from February 5, 2025, for those already registered with PayNow-NRIC. For seniors getting money through GIRO, they will have received theirs by February 13, while those who receive theirs via GovCash will receive it by February 21. However, to ensure you receive the money via PayNow, you need to link your NRIC to PayNow by January 25, 2025.
MediSave Top-Up
S$150 is allocated for the MediSave top-up for all citizens aged 55 or older. This will be directly credited to CPF MediSave accounts starting February 11, 2025. The money can be used for hospitalization, outpatient treatment, and other approved medical expenses.
Silver Support Scheme
The quarterly pay out is targeted at lower-income seniors whose working years contributed little in CPF savings and were limited by family support during those years. The demerit most people usually think is automatic and takes no application.
In fact, those seniors aged 65 and above during the calendar year and have contributed not more than S$140,000 into CPF from the age of 55 are eligible. They need to live in 1- to 5-room HDB flats and should not own any property that is private either alone or jointly with his or her spouse. Household income per individual should not exceed S$2,300 per month.
For the 1- and 2-room HDB flats, an individual is receiving an amount of S$ 1080 in a quarter. This is also applicable to those living in 3-room HDBs who receive S$860 and for residents of 4-roomed houses who get S$650. In summary, an individual in a 5-room flat will be entitled to receive S$430 every quarter.
Payments are made four times a year. The period from January to March gets its payout by making deposits on December 31 of the previous year. Payment for the period of April to June is made on March 31, that of July to September on June 30, and for October to December by September 30.
Here are the steps to check one’s eligibility:
A senior citizen may visit the GovBenefits website to determine whether he or she is eligible by using the Singpass login. If one qualifies, an SMS notification will be sent with the official sender ID of ”gov.sg”. For unregistered mobile numbers, a letter will be sent via post.
Be cautious about scams; government SMSes will never ask for a reply, contain links, or ask for any personal information. No legitimate payment information will be sent through WhatsApp or any other instant messaging platform.
The Final Word
These financial support schemes are part of the wider effort within Singapore to ensure that seniors lead a secure and dignified retirement. Cash payouts, MediSave top-ups, and quarterly assistance are aimed by the government at basic living as well as healthcare needs. Seniors should take an early opportunity to check their eligibility and ensure that their payment details are up to date to avoid delays in receiving benefits.