In the 2025 budget, the Government of Singapore continues its steadfast financial support to citizens through a number of initiatives under the Assurance Package and the Majulah Package. Such solutions would lessen daily expenditure, enhance retirement savings, and add to healthcare support, especially for lower- and middle-income Singaporeans.
Assurance Package (AP) Cash
Assurance Package Cash payout is for helping Singaporeans manage the rising costs of maintaining daily expenses with an inflation indexation and changing the political economy.
By definition, a recipient is a Singapore citizen aged 21 years and above in 2025. In 2023, their assessable income must be S$34,000 or less and they must reside in a property having an annual value not exceeding S$21,000.
The payout amount varies from S$700 to S$850 depending on the value of the property per annum.
For those who attached their NRIC to PayNow, payments will start on December 5, 2024. Citizens choosing bank crediting will have their payments starting December 16, 2024, while those using GovCash will have the same effect from December 24, 2024.
This benefit is meant to help offset the healthcare costs through a top-up of citizens’ CPF MediSave accounts.
- Singaporeans eligible must be under 20 years of age or 55 years and above by 2025.
- Every qualifying person will receive a one-time top-up to their MediSave account of S$150.
- Disbursements will start from February 11, 2025, onwards.
Assurance Package (AP) Seniors Bonus
The Assurance Package Seniors Bonus is an additional living expense support for seniors.
- Eligible citizens are those who will be 55 years or older in 2025, have an assessment income cap of S$34,000 or less in Year of Assessment 2023, and live in properties with an annual value of up to S$31,000.
- The payout for seniors is between S$200 to S$300, depending on the annual value of the property that belongs to them.
- Payouts will start with the use of the PayNow-NRIC channel on February 5, 2025. Bank crediting begins on February 13, 2025, while the GovCash disbursement will start on February 21, 2025.
Assurance Package (AP) U-Save
There will be continuous quarterly U-Save rebate disbursement to help households cope with their utility bills. Eligible HDB households will automatically receive the rebate. These will credit those accounts that they hold with SP Services directly in the quarter of January, April, July, and October 2025.
Majulah Package MediSave Bonus
First-time MediSave bonuses will be given to Singaporeans to add funds into their retirement and healthcare investments under the newly launched Majulah Package.
- The 1973-born or earlier citizen, who will occupy residential properties which have an annual value of up to S$25,000 as at December 31, 2023, assuming no more than one property, is eligible for this cash bonus.
- He or she will earn the MediSave bonus which may range from S$750 to S$1,500 depending on the person’s age and housing status. These payouts would take place in December 2024.
Top-Ups/Bonuses to CPF Special Account or Retirement Account
Lower CPF savings means more gifts. CPF top-ups or bonuses will be given to help Singaporeans with retirement planning.
Any Singapore citizen born on or before 1973 and who as of 31 December 2022 has CPF retirement savings lower than the 2023 Basic Retirement Sum of S$99,400; with ownership of properties that have an annual value of up to S$25,000 as of 31 December 2023; and with ownership of not more than 1 property.
The bonus given varies from S$1,000 to S$1,500, depending on the individual’s CPF savings. Disbursement of these bonuses will be in December 2024.