Singapore a significant move to support ageing citizens and improve retirement adequacy, the Singapore government has enhanced its suite of financial assistance schemes for seniors in 2025. These changes, rolled out progressively throughout the year, are part of broader efforts to cushion seniors against inflation, boost CPF savings, and encourage active ageing through continued employment.
The new and improved initiatives include upgrades to the Assurance Package Seniors’ Bonus, the Majulah Package, enhancements to the Silver Housing Bonus, and a one-time Retirement Savings Bonus. Each scheme targets different segments of the elderly population ranging from retirees to working seniors ensuring that no group is left behind.
Assurance Package (AP) Seniors’ Bonus
Singaporean seniors aged 55 and above are set to receive their final round of cash payouts under the Assurance Package Seniors’ Bonus in April 2025. Eligible recipients will receive between S$600 and S$900 over the three-year period from 2023 to 2025.
This cash support is part of the government’s broader Assurance Package, aimed at helping Singaporeans cope with the rising cost of living and the Goods and Services Tax (GST) increase.
Eligibility for the bonus depends on several criteria:
- Annual income
- Ownership of zero or one property
- Annual value of the home (must not exceed S$25,000)
The payouts will be credited automatically to seniors’ bank accounts or disbursed via GovCash for those without a bank account.
Majulah Package: Support for Working Seniors
Unveiled as part of Budget 2024, the Majulah Package aims to boost retirement adequacy and reward continued employment among older workers. Under the package, working Singaporeans born in 1973 or earlier will receive an annual Earn and Save Bonus starting in March 2025.
The bonus amount is tiered based on average monthly income over a 12-month period:
- S$500 to S$2,500: S$1,000 bonus
- S$2,501 to S$3,500: S$700 bonus
- S$3,501 to S$6,000: S$400 bonus
The money will be automatically credited to CPF accounts, allowing seniors to accumulate retirement savings through continued participation in the workforce.
More information can be found on the Ministry of Manpower’s official site.
Silver Housing Bonus (SHB) Expansion
In a move to encourage seniors to right-size their homes and unlock housing equity, the government will implement enhancements to the Silver Housing Bonus (SHB) scheme starting December 1, 2025.
Key changes include:
- An additional S$10,000 cash bonus for seniors who sell their current home and purchase a 2-room flat or smaller, including community care apartments.
- Expanded eligibility to seniors who own private properties with annual values between S$21,000 and S$31,000.
- A maximum bonus of S$40,000, including top-ups to CPF Retirement Accounts.
This scheme not only supports ageing in place but also promotes financial independence by converting home equity into retirement income.
Retirement Savings Bonus (RSB)
Also part of the Majulah Package, the Retirement Savings Bonus provides a one-time bonus of S$1,000 to S$1,500 to seniors with lower CPF balances. The intent is to boost the retirement funds of seniors who have not yet reached the Basic Retirement Sum (BRS) as defined in 2023.
This measure is aimed at closing the retirement gap for older citizens who may have had irregular work histories or limited CPF contributions in the past.
Seniors do not need to apply for this bonus—it will be disbursed automatically if they qualify. For eligibility criteria and more, check the official SupportGoWhere RSB page.
Conclusion
As Singapore’s population ages, the government has adopted a multi-pronged approach to strengthen the financial well-being of its seniors. The 2025 rollout of enhanced bonuses underscores a national commitment to inclusivity, ensuring that both working and retired seniors receive tailored support.
Seniors and their caregivers are encouraged to visit SupportGoWhere to check eligibility and learn how to receive their benefits.
These upgraded schemes not only provide immediate relief but also pave the way for a more resilient and inclusive ageing experience in Singapore.
