In a continued effort to support its ageing population, the Singapore government has rolled out a series of upgraded financial initiatives for seniors in 2025, enhancing several existing schemes and introducing new incentives under the Majulah Package and the Assurance Package. These enhancements are aimed at boosting retirement adequacy, promoting active employment among older workers, and enabling seniors to better manage housing needs in later life.

1. Final Payout of Assurance Package Seniors’ Bonus

Lower- to middle-income seniors aged 55 and above will receive the final installment of the Assurance Package (AP) Seniors’ Bonus in February 2025, a cash payout that ranges between S$600 and S$900.

This bonus, first introduced in 2023, is part of the government’s broader Assurance Package designed to cushion the impact of the Goods and Services Tax (GST) hike and rising living costs. The payout amount depends on factors such as age, income, and the annual value of one’s residence.

Eligible seniors can check their status and details of the payout on the official government portal at govbenefits.gov.sg.

2. Majulah Package: Retirement Savings Bonus (RSB)

As part of the newly introduced Majulah Package, the government is providing a one-time Retirement Savings Bonus to help seniors who have not yet met the Basic Retirement Sum (BRS) in their Central Provident Fund (CPF) accounts.

Eligible seniors will receive a S$1,000 to S$1,500 bonus directly credited to their CPF Retirement Account. The exact amount depends on the individual’s existing CPF savings. The goal is to encourage prudent financial planning and increase long-term retirement adequacy.

3. Majulah Package: Earn and Save Bonus (ESB)

In a bid to promote continued employment among older Singaporeans, the Earn and Save Bonus was launched in March 2025. Seniors who are still working and meet the eligibility criteria will receive between S$400 and S$1,000 annually in their CPF accounts.

To qualify, seniors must:

• Be born in 1973 or earlier
• Have an average monthly income of S$500 to S$6,000
• Own only one property, with its annual value not exceeding S$31,000

This initiative targets older workers who remain economically active and encourages them to continue contributing to their CPF savings. Details about this bonus can be found at the Ministry of Manpower’s site: mom.gov.sg.

4. Enhanced Silver Housing Bonus (SHB)

Starting December 1, 2025, significant enhancements will be made to the Silver Housing Bonus (SHB) scheme. Seniors who choose to downsize to a smaller flat will be eligible for a cash bonus of up to S$40,000, up from the previous cap of S$30,000.

Key changes to the SHB include:

• An additional S$10,000 bonus for those moving into two-room or smaller flats, including Community Care Apartments
• Expanded eligibility to include private property owners whose homes have an annual value between S$21,000 and S$31,000
• Simplified CPF top-up requirements, reducing the cash top-up burden for applicants

This move aligns with the government’s long-term housing strategy to encourage right-sizing and ensure that seniors live in more manageable homes while unlocking home equity.

Strengthening Retirement Security for Seniors

The roll-out of these upgraded schemes comes at a time when more Singaporeans are entering retirement age amid rising life expectancy. The enhancements demonstrate the government’s commitment to ensuring that every senior citizen, regardless of income or housing background, has access to meaningful support in their retirement years.

Deputy Prime Minister Lawrence Wong had previously emphasized that the Majulah Package, unveiled during Budget 2024, was designed not just as a one-off support mechanism, but as part of a “longer-term plan to uplift seniors and reward their contributions to nation-building.”

How to Apply or Check Eligibility

Seniors can check their eligibility and receive personalized information about these schemes via the SupportGoWhere portal, a government-run platform that consolidates assistance programs.

Additionally, the CPF Board and Ministry of Manpower have committed to reaching out proactively to eligible seniors through SMS, letters, and digital services to guide them in the application or verification process.

Conclusion

Singapore’s upgraded senior support schemes in 2025 reflect a strong commitment to helping older citizens stay financially secure and independent. With enhanced cash bonuses, CPF top-ups, and housing incentives, seniors are better equipped to manage retirement and enjoy peace of mind in their golden years.