Singapore, 2025 In a landmark move aimed at strengthening retirement security, the Singapore government has launched the Majulah Package, a $9 billion initiative designed to support seniors with limited Central Provident Fund (CPF) savings. Announced during the National Day Rally in 2023 by Prime Minister Lee Hsien Loong, the package targets approximately 1.6 million Singaporeans born in 1973 or earlier, particularly those in their 50s and 60s dubbed the “young seniors” as well as members of the Pioneer and Merdeka Generations.

This comprehensive support scheme reflects the government’s continued commitment to ensure older Singaporeans can enjoy financial security in retirement, even if their CPF balances are modest.

Key Components of the Majulah Package

The Majulah Package is structured around three main benefits:

1. Earn and Save Bonus (ESB)

The Earn and Save Bonus is an annual CPF top-up for eligible working seniors with modest incomes. Depending on their average monthly salary, seniors can receive $400 to $1,000 added directly to their CPF accounts every year.

Payment tiers based on income:

• $500 to $2,500: $1,000
• Above $2,500 to $3,500: $700
• Above $3,500 to $6,000: $400

Eligibility Criteria:

• Employed with average monthly income between $500 and $6,000.
• Living in a property with an annual value of $31,000 or less.
• Must not own more than one property.

The first payout was credited in March 2025. This measure encourages continued employment among older Singaporeans while boosting their long-term retirement savings.

2. Retirement Savings Bonus (RSB)

For seniors with CPF retirement savings below the Basic Retirement Sum (BRS) which was $99,400 in 2023 the government provided a one-time bonus of $1,000 or $1,500 to help them catch up.

Eligibility Criteria:

• CPF retirement savings fall below the BRS.
• Living in a property with annual value of $25,000 or less.
• Own no more than one property.

This top-up was disbursed in December 2024, providing much-needed relief for seniors who may not have had consistent CPF contributions during their working years.

3. MediSave Bonus (MSB)

To ease the burden of rising healthcare costs, especially with the increase in MediShield Life premiums, eligible seniors received a one-time top-up to their MediSave accounts either $1,250 or $2,000.

This bonus was announced in October 2024 and varies based on age, property ownership, and residence value.

Who Benefits from the Majulah Package?

The package primarily helps:

• Seniors in their 50s and early 60s (born in or before 1973).
• Members of the Pioneer Generation (born 1949 or earlier).
• Members of the Merdeka Generation (born between 1950 and 1959).

In total, 1.6 million Singaporeans are expected to benefit. For many, the package acts as a financial buffer, improving their ability to meet daily expenses and healthcare needs in retirement.

To find out if you qualify, visit the official Majulah Package eligibility checker.

Funding and Long-Term Impact

The Majulah Package is fully funded by the current government term, ensuring that future generations are not burdened by its cost. A dedicated fund has been established to cover the full $9 billion lifetime cost of the program.

According to Prime Minister Lee, this initiative is not just a financial tool but a gesture of gratitude and respect for the generations who built modern Singapore.

National Day Rally 2023 Highlights (PMO)

Complementary Support Schemes

In addition to the Majulah Package, the government has boosted several other existing schemes:

• Silver Support Scheme: Quarterly cash payouts to lower-income seniors.
• Workfare Income Supplement: Extra support for older low-wage workers.
• Matched Retirement Savings Scheme (MRSS): Encourages family members or donors to top up a senior’s CPF, with the government matching up to $600 per year.

These layered forms of support create a safety net that improves retirement adequacy for Singapore’s aging population.

Conclusion

The Majulah Package represents a forward-looking, compassionate policy that aims to uplift older Singaporeans who may not have benefited fully from the CPF system during their working years. By targeting those most in need with tailored bonuses for work, savings, and healthcare the government affirms its pledge to leave no one behind as Singapore progresses.

For more information or assistance, seniors and their families can contact the Majulah Package Hotline at 1800-2222-888 or visit the official government portal.