SINGAPORE In a continued effort to cushion the impact of rising living costs, the Singapore government has announced a cash payout of up to S$900 over three years for eligible seniors under the Assurance Package (AP) Seniors’ Bonus.
The initiative, which forms part of the broader Assurance Package, aims to provide additional support to lower- and middle-income seniors. About 850,000 Singaporean seniors are expected to benefit from the payouts, with the next installment coming in February 2025.
Who is Eligible?
To receive the AP Seniors’ Bonus in 2025, seniors must meet the following criteria:
- Age: Must be aged 55 and above in 2025.
- Residency: Must be residing in Singapore.
- Property Ownership: Must own no more than one property.
- Annual Value (AV) of the home (as of 31 July 2024) must not exceed S$31,000.
- Assessable Income: Annual assessable income for 2022 (as assessed in YA 2023) must not exceed S$34,000.
These criteria ensure that the assistance is directed at seniors who are more likely to need financial support.
For full eligibility information, visit the Assurance Package eligibility checker.
How Much Will Seniors Receive?
The payout for February 2025 will range between S$200 and S$300, depending on the senior’s age and the annual value of their home. Here’s a breakdown:
Seniors aged 65 and above:
- AV S$21,000: S$300
- AV S$21,001 – S$31,000: S$200
Seniors aged 55 to 64:
- AV ≤ S$21,000: S$250
- AV S$21,001 – S$31,000: S$200
These payments are part of a total of up to S$900 that eligible seniors will receive across three years (2023–2025).
When Will the Payments Be Made?
The 2025 payout will be disbursed in February according to the following schedule:
- 5 February 2025 – For seniors with PayNow-NRIC linkage.
- 13 February 2025 – For recipients paid via GIRO.
- 21 February 2025 – For seniors using GovCash, who can withdraw their money at OCBC ATMs.
Additional MediSave Top-Ups
In addition to the cash bonus, all eligible Singaporeans aged 55 and above will receive a S$150 MediSave top-up in their CPF account in February 2025.
This is the final of three annual MediSave top-ups—each of S$150—introduced under the Assurance Package from 2023 to 2025, amounting to a total of S$450.
MediSave can be used to pay for various outpatient treatments, health screenings, and medical insurance premiums.
How Will Seniors Be Notified?
Eligible seniors will be notified via SMS once the payment is made. To ensure that the communication is secure:
- The SMS will not request personal information.
- There will be no links in the message.
- The government will not send any WhatsApp or other app-based messages about the bonus.
Those who do not have a Singpass-registered mobile number will receive a notification letter mailed to their NRIC-registered address.
To update your contact information, visit Singpass.
Beware of Scams
Seniors are advised to stay vigilant against scams impersonating government agencies. Official messages will come only through verified channels and will never ask for bank details or prompt users to click on suspicious links.
If in doubt, seniors can verify messages through the Scam Alert website or call the Ministry of Finance hotline at 1800-2222-888.
Government’s Continued Support
The Assurance Package is one of several initiatives the Singapore government has introduced to support households amid inflation and GST increases. These measures aim to soften the financial burden, particularly on lower-income groups and the elderly.
Deputy Prime Minister and Minister for Finance Lawrence Wong noted in the 2024 Budget Statement that the government is committed to “ensuring that no one is left behind,” especially vulnerable seniors.
Conclusion
The Assurance Package reflects Singapore’s ongoing commitment to supporting its ageing population and ensuring that vulnerable seniors have the financial stability they need. With the S$900 payout and S$450 in MediSave top-ups planned for eligible seniors over the next three years, the government is offering substantial financial relief. As Singapore’s population continues to age, initiatives like this demonstrate the government’s responsiveness in addressing the challenges faced by seniors in today’s economy.