In February 2025, cash payments between $200 and $300 will be given by the Assurance Package (AP) Seniors’ Bonus to about 850,000 lower-income Singaporean seniors aged 55 years and over. Thus, it aims at reducing costs of living and providing older citizens with additional support.
Understanding Assurance Package (AP)
The Assurance Package has been introduced to the Singaporean household in order to meet the increasing living costs as well as offsetting the impact of imposed GST (goods and services tax). The AP in an inclusive form consists of cash payouts, MediSave top-ups, and Community Development Council (CDC) vouchers which range between a very broad spectrum of citizens.
Explaining the $900 Seniors’ Bonus
The seniors qualifying will receive the AP Seniors’ Bonus amounting to some $600-$900 over three years (2023 to 2025). Below is the structure laid out for 2025:
- For seniors whose home ANNUAL VALUE (AV) is below $13,000, they will be entitled to $250 for ages 55-64 and $300 for those aged 65 and older.
- For seniors having an Annual Value of home ranging from $13,001 to $21,000, those aged 55 to 64 already receive $200, while those aged 65 and above will also receive $200.
- Disbursement of the above amounts will take place in February 2025.
Criteria of Eligibility
To be entitled for the AP Seniors’ Bonus in 2025, the seniors would have to satisfy these criteria: They should be Singapore citizens residing in Singapore. They should own not more than one property; and their Assessable Income should not exceed $34,000, Year of Assessment 2023, while the Annual Value of their home should be up to $21,000, based on the 2023 AVs.
AP MediSave Top-Ups
Apart from the Seniors’ Bonus, all Singaporeans aged below 20 years or above 55 years will receive a top-up of $150 in their CPF MediSave account as part of the AP MediSave in February 2025. The benefit will apply regardless of the Annual Value of their home or Assessable Income. It hopes to offset among other things, healthcare costs in old age.
Notification and Disbursement
Eligible persons will be notified via SMS after the benefits have been credited in February 2025. Those without a Singpass-registered mobile number and persons who do not receive an SMS will get a letter at their registered address.
To receive the AP Seniors’ Bonus promptly, seniors are encouraged to link their NRIC to PayNow by January 26, 2025. Payments will commence as early as February 5, 2025, for those with PayNow-NRIC linkage.
Keeping Scams at Bay
Citizens are cautioned by the government against scam traps. The SMSs which are official will be sent from “gov.sg” and such will not request replies nor personal information and do not contain clickable links. There will not be messages regarding the payments delivered through WhatsApp or other mobile messaging platforms.
Conclusion
The Assurance Package Seniors’ Bonus and MediSave top-ups are among the schemes that the Government of Singapore has put in place to support elderly citizenry from the rising costs of living. Eligible seniors must ensure their PayNow-NRIC link-in to receive timely disbursements and stay alert against scams.