Understanding the Assurance Package (AP) Seniors' Bonus
For 2025, the Assurance Package (AP) Seniors' Bonus provides cash payments to lower-income seniors. The final payout for this package was scheduled for February 2025. To qualify, seniors generally need to be Singapore Citizens residing in Singapore, aged 55 and above in 2025, meet specific income and property ownership thresholds, and not own more than one property.
The Majulah Package: Supporting Young Seniors
Introduced in 2024, the Majulah Package supports Singaporeans born in 1973 or earlier, with components for 'young seniors' aged 50-60. This package includes a one-time Retirement Savings Bonus, a one-time MediSave Bonus, and an annual Earn and Save Bonus.
Here's a breakdown of the Majulah Package components:
- Earn and Save Bonus (ESB): For eligible citizens born in 1973 or earlier who are working within a specific income range, reside in a property below a certain Annual Value, and own no more than one property. This is credited annually to their CPF Retirement Account (RA) or Special Account (SA).
- Retirement Savings Bonus (RSB): For eligible citizens born in 1973 or earlier whose CPF retirement savings were below a certain threshold as of 31 December 2022, live in a residence below a specified Annual Value, and own no more than one property. This is a one-time credit to their CPF RA or SA.
- MediSave Bonus (MSB): All Singaporeans born in 1973 or earlier receive this bonus, with amounts varying based on year of birth, residence's Annual Value, and property ownership. This is a one-time credit to the CPF MediSave Account.
The Silver Support (SS) Scheme
The Silver Support Scheme offers a quarterly cash supplement to lower-income seniors. Eligibility for this ongoing scheme, which is automatically assessed yearly for Singapore citizens aged 65 and above, is based on four main criteria:
- Low Lifetime Wages: Total CPF contributions by age 55 are below a specified amount, or if self-employed, an average annual net trade income within a certain range between ages 45-54.
- Housing Type: Residency in a 1- to 5-room HDB flat, with restrictions on owning larger HDB flats, private property, or multiple properties for the senior and their spouse.
- Low Household Support: Living in a household where the monthly income per person does not exceed a set amount.
- Automatic Assessment: No application is necessary, as eligible seniors receive payments automatically.
To further understand government support for seniors, you can visit the official Ministry of Finance website for detailed information on various schemes [2].
Comparison of Key Senior Support Schemes
| Scheme | Target Group | Frequency | Key Eligibility Factors |
|---|---|---|---|
| Assurance Package (AP) Bonus | Lower-income seniors | One-time | Age, Income, Property Ownership, Citizenship |
| Majulah Package | Young seniors | One-time/Annual | Age, Income, CPF Savings, Property Ownership |
| Silver Support (SS) Scheme | Lower-income seniors | Quarterly | Lifetime Wages, Housing, Household Income, Age |
Conclusion
Singapore provides several schemes to support its senior citizens financially, with eligibility varying based on age, income, property ownership, and CPF contributions. The Assurance Package, Majulah Package, and Silver Support Scheme are key initiatives designed to provide targeted assistance to different groups of seniors, ensuring a safety net for those with lower retirement savings. Eligibility is often automatically assessed, ensuring ease of access for qualifying individuals.
