In a continued effort to support seniors and cushion the impact of rising living costs, the Singapore government has announced the latest round of the Assurance Package (AP) Seniors’ Bonus, with payouts of up to S$300 to be disbursed in February 2025. This initiative is part of a broader commitment by the government to provide S$600 to S$900 in total support over three years from 2023 to 2025.

According to the Ministry of Finance (MOF), around 850,000 senior Singaporeans are expected to benefit from this scheme. Here’s a clear breakdown of what the bonus entails, who qualifies, and how it will be delivered.

What is the Assurance Package Seniors’ Bonus?

The Assurance Package Seniors’ Bonus is a component of the broader Assurance Package aimed at mitigating the effects of the Goods and Services Tax (GST) increase and broader cost-of-living challenges, particularly for lower- to middle-income Singaporeans.

For seniors, this means direct cash support of up to S$300 in 2025, in addition to earlier payouts made in 2023 and 2024. The scheme targets older citizens who are more vulnerable to economic pressures, especially those with lower incomes and modest housing.

Full details of the Assurance Package can be found on the MOF website.

Who Is Eligible?

To qualify for the 2025 payout, seniors must meet all the following criteria:

• Age: Must be aged 55 years or older in 2025.
• Citizenship: Must be a Singapore Citizen residing in Singapore.
• Property Ownership: Must own no more than one property.
• Annual Value (AV) of Residence: Home (as reflected on NRIC) must have an AV of S$31,000 or less, based on records as of 31 July 2024.
• Assessable Income (AI): Must have AI of S$34,000 or less for the Year of Assessment 2023 (income earned in 2022).

You can check your eligibility via the official GovBenefits portal.

How Much Will Eligible Seniors Receive?

The payout amount varies depending on age group and the annual value of the home:

Seniors Aged 65 and Above:

• AV up to S$21,000: S$300
• AV between S$21,001 and S$31,000: S$200

Seniors Aged 55 to 64:

• AV up to S$21,000: S$250
• AV between S$21,001 and S$31,000: S$200

These cash payouts are in addition to other Assurance Package benefits, such as CDC vouchers and MediSave top-ups.

Payment Timeline and Modes

The AP Seniors’ Bonus will be distributed in February 2025 through three main methods:

• PayNow-NRIC: Seniors who have linked their NRIC to PayNow will receive payment by 5 February 2025.
• GIRO: Those who have registered bank accounts with the government will receive the funds by 13 February 2025.
• GovCash: For those without a registered bank account, payouts will be made by 21 February 2025 via GovCash, accessible at OCBC ATMs.

Additional Support: MediSave Top-Up

As part of the Assurance Package, seniors aged 55 and above will also receive a S$150 top-up to their CPF MediSave accounts in February 2025. This is the final tranche of a total S$450 MediSave top-up disbursed from 2023 to 2025.

These top-ups aim to ease healthcare costs, especially as Singapore’s senior population continues to grow.

How Will Seniors Be Notified?

Eligible seniors will be notified via SMS once their bonus has been credited. The MOF advises recipients to note that:

• Official messages will not ask for personal details or banking information.
• Messages will not contain clickable links.
• No messages will be sent via WhatsApp or other social platforms.

Seniors without a Singpass-registered mobile number will receive a letter at their NRIC-registered address. More information about scam prevention and legitimate communications can be found on scamalert.sg.

Final Thought

With inflation and GST increases weighing on household budgets, the Assurance Package Seniors’ Bonus reflects Singapore’s continued push for targeted support rather than blanket subsidies. It ensures that vulnerable groups like seniors receive financial help where it’s needed most in cash, and without complex application processes.

The government has reiterated its commitment to helping Singaporeans cope with transitional economic challenges while continuing to invest in long-term fiscal sustainability.