Singapore has introduced several enhanced financial support measures for senior citizens in 2025, aimed at improving their financial well-being and ensuring a more comfortable retirement. These measures build on previous initiatives, offering expanded benefits and a broader reach to seniors across the nation. Among the key enhancements are the Assurance Package Seniors’ Bonus, Earn and Save Bonus, Silver Housing Bonus, and the Silver Support Scheme.
1. Assurance Package Seniors’ Bonus (2025)
The Assurance Package Seniors’ Bonus is part of Singapore’s long-term effort to ensure that seniors, particularly those with lower incomes, can enjoy greater financial security. In 2025, the government will distribute annual cash payouts to eligible Singaporeans aged 55 and above. The bonus amounts will vary depending on the individual’s age, income, and type of housing.
Eligible seniors aged 65 and above will receive $300 if they live in homes with an Annual Value (AV) of up to $21,000, while those aged 55 to 64 will receive $250. For seniors in homes with an AV between $21,000 and $31,000, the payout will be slightly reduced. These payments are scheduled to be distributed in February 2025.
To qualify for the bonus, applicants must meet the following criteria:
- Be a Singapore citizen aged 55 and above.
- Have an assessable income not exceeding $34,000.
- Own no more than one property.
- Live in a property with an AV not exceeding $31,000, as of July 31, 2024.
For more details on eligibility and payment schedules, seniors can visit the Assurance Package Seniors’ Bonus page.
2. Earn and Save Bonus Under the Majulah Package
As part of the Majulah Package, a $9 billion initiative aimed at supporting seniors, the Earn and Save Bonus is designed to benefit working seniors born in 1973 or earlier. The first payouts for this bonus are scheduled for March 2025 and will be credited directly to the seniors’ Central Provident Fund (CPF) accounts.
The bonus amount depends on the senior’s monthly income:
- $1,000 for monthly incomes between $500 and $2,500.
- $700 for monthly incomes between $2,500 and $3,500.
- $400 for monthly incomes between $3,500 and $6,000.
To qualify for the Earn and Save Bonus, seniors must meet these criteria:
- Be employed with an average monthly income ranging from $500 to $6,000.
- Own no more than one property.
- Live in a property with an AV not exceeding $31,000.
For further information on this scheme, visit the Ministry of Manpower’s press release.
3. Silver Housing Bonus Enhancements
The Silver Housing Bonus has also seen significant improvements, particularly for seniors who choose to downsize their homes in order to access extra cash for their retirement. From December 1, 2025, seniors who downgrade to smaller flats can receive up to $40,000 in cash bonuses. Additionally, seniors who move into 2-room or smaller flats, including community care apartments, will be eligible for an extra $10,000 bonus.
To qualify for the Silver Housing Bonus, seniors must meet the following conditions:
- Own no more than one property.
- Downsize to a 3-room or smaller flat.
- Some private property owners with an AV between $21,000 and $31,000 may also qualify for a reduced bonus.
This initiative is designed to help seniors unlock the value in their homes, supporting them financially in their retirement years. For more details, seniors can visit the Housing & Development Board’s Silver Housing Bonus page.
4. Silver Support Scheme (SSS) Enhancements
The Silver Support Scheme provides quarterly cash supplements to seniors with limited retirement savings. The scheme has been enhanced in 2025, with increased payouts aimed at improving the financial security of seniors who had low incomes during their working years. Approximately 290,000 seniors are expected to benefit from these enhancements.
To qualify for the Silver Support Scheme, seniors must meet the following criteria:
- Be aged 65 and above.
- Have a low lifetime income and limited savings in their CPF.
- Be living in a 1- or 2-room HDB flat.
The scheme provides additional financial support for seniors who have contributed less to their CPF accounts over their lifetimes. Seniors who qualify can expect to see a boost in their quarterly payments. More information can be found on the CPF Board’s Silver Support Scheme page.
5. Matched MediSave Scheme (MMSS) for Seniors
As part of the government’s ongoing efforts to support seniors’ healthcare needs, the Matched MediSave Scheme (MMSS) will provide a dollar-for-dollar match for voluntary top-ups to seniors’ MediSave accounts, up to a maximum of $1,000 annually. This scheme will commence in 2026 and is aimed at seniors aged 55 to 70 with monthly incomes not exceeding $4,000.
To qualify for MMSS, seniors must:
- Be aged between 55 and 70.
- Have monthly incomes not exceeding $4,000.
- Own no more than one property.
- Have MediSave balances that are below half the prevailing Basic Healthcare Sum.
This initiative encourages seniors to save for their healthcare needs, ensuring they have access to sufficient funds in their MediSave accounts for future medical expenses.
Conclusion
These upgraded schemes mark a significant step forward in Singapore’s commitment to supporting its aging population. By enhancing existing programs such as the Assurance Package, Silver Housing Bonus, and the Silver Support Scheme, the government aims to ensure that seniors can retire with dignity and security. Whether through cash bonuses, housing incentives, or healthcare support, these measures seek to address the diverse needs of seniors, providing them with greater financial stability in their later years.