Several initiatives were rolled out for the financial assistance of senior citizens in Singapore in 2025. The primary purpose of these initiatives is to enhance retirement adequacy and assist them with their expenses on daily living and healthcare. Below, we have provided a full overview of all these schemes, including qualifying conditions, payout amounts, and schedules of disbursements.
Assurance Package Seniors’ Bonus
These cash payouts from the Assurance Package Seniors’ Bonus are given to qualified Singaporean seniors to reduce the high cost of living.
Eligibility Criteria:
Citizens of Singapore of 55 years and above in 2025. Assessable Income (AI) less than $34,000 for the year of 2023 (for income earned in 2022). The ownership of one property only. Annual Value (AV) of that home is to $31,000.
Payout details:
Those aged 55-64 will receive $250 while those aged 65 & above will receive $300 if the Annual Value is up to $21,000. Those aged 55-64 will receive $200 if the Annual Value is between $21,001 and $31,000.
Payments will be carried out in February 2025. Payments will be disbursed earliest on February 5, 2025, to recipients registered with PayNow-NRIC. Other recipients using GIRO or GovCash will have different payment dates.
MediSave Top-Up
Healthcare expenses will be aided through a MediSave top-up granted to eligible seniors.
- Eligibility Criteria: All Singaporean citizens above the age of 55 in 2025.
- Amount of Top Up: A one-time credit of $150 into the CPF MediSave account. The top-up will be credited automatically effective February 11, 2025.
- Silver Support Scheme: The Silver Support Scheme provides seniors with quarterly cash assistance if they had low earnings in their working years and now receive less in retirement.
Eligibility Criteria:
Singaporean citizens aged 65 years and above. Total CPF Contributions at Age 55 must not exceed $140,000. Per-Capita Household Income must not exceed $2,300. Must be living in 1- to 5-room HDB flat. Seniors must not own a private property, a 5-room or larger HDB flat, or multiple properties.
Quarterly payouts will start from January 2025:
- For 1- and 2-room HDB flats, those with per-capita household income less than or equal to $1,500 will receive $1,080, and those with per-capita household income between $1,501 and $2,300 will receive $540.
- For 3-room HDB flats, those with per-capita household income less than or equal to $1,500 will receive $860, and those with per-capita household income between $1,501 and $2,300 will receive $430.
- For 4-room HDB flats, those with per-capita household income less than or equal to $1,500 will receive $650, and those whose per-capita household income is between $1,501 and $2,300 will receive $325.
- For 5-room HDB flats (if residing in but do not own), those with a per-capita household income less than or equal to $1,500 will receive $430, while those with a per-capita household income between $1,501 and $2,300 will receive $215.
Eligible seniors will be automatically assessed and informed every year.
WIS (Workfare Income Supplement)
It promotes an encouragement for employment on a regular basis by lower-wage workers. Workfare Income Supplement (WIS) makes sure that workers join the field with supplements to their income and CPF savings earnings.
Eligibility Criteria (from January 2025):
Singapore citizens aged 30 and above. Employment status refers to employees, self-employed, or platform workers. Gross Monthly Income between $500 and $3,000. If property owned is not more than one property. Annual Value of Home must not be more than $21,000. Spouse’s assessable income should not exceed $70,000 for a married couple and they should own not more than one property together.
Payout Details:
An individual might get a payout of up to $4900, depending on age and income. While employees are automatically assessed through their CPF contributions, self-employed people have to declare their income and contribute to MediSave before being eligible.
Majulah Package
This package was announced in Budget 2024, which aims to boost retirement savings of current “Young Seniors”, currently in their 50s to early 60s.