Assurance Package Seniors’ Bonus: Up to $300 Cash and MediSave Top-Ups for Eligible Singaporeans

Good news for Singaporeans aged 55 and above! In February 2025, the Assurance Package (AP) Seniors’ Bonus will provide cash payouts of $200 to $300 to approximately 850,000 lower-income seniors. Additionally, 2 million Singaporeans will receive a $150 MediSave top-up, offering much-needed relief amid rising living costs.

Let’s dive into the details, including eligibility, payment schedules, and how to access your benefits!

Who Is Eligible for the Seniors’ Bonus?

The AP Seniors’ Bonus is designed for Singaporeans aged 55 and above who meet the following criteria:

1. Residency: Must be living in Singapore.
2. Property Ownership: Must not own more than one property.
3. Property Annual Value: Must live in a property with an annual value of up to $31,000.
4. Income Cap: Assessable income must not exceed $34,000.

Bonus Amounts by Criteria:

• $300: Seniors aged 65 and above with property annual value ≤ $21,000.
• $250: Seniors aged 55 to 64 with property annual value ≤ $21,000.
• $200: Seniors with property annual value between $21,000 and $31,000.

How Will Seniors Receive Their Payments?

Eligible seniors can receive their cash payouts through various methods:

• PayNow-NRIC:

• • • Link your NRIC to your bank account by Jan 27 for the fastest payout.
    • Payment will be credited by Feb 5, 2025.

• GIRO Payments:

• • • Provide your bank details on govbenefits.gov.sg by Jan 27.
    • Cash will be credited by Feb 13, 2025.

• GovCash:

• • For those without linked bank accounts, payouts will be processed by Feb 21, 2025.

$150 MediSave Top-Up for Singaporeans

Apart from cash payouts, all Singaporeans aged 20 and below or 55 and above will receive a $150 MediSave top-up in their CPF accounts.

Details:

• The top-up is part of the Assurance Package, offering $450 over three years (2023–2025).
• Payments will be credited automatically to CPF accounts starting Feb 11, 2025.

Notifications and Scam Precautions

To keep recipients informed, the Ministry of Finance (MOF) will:

1. Send SMS notifications to recipients with Singpass-registered mobile numbers after the payments are credited.
2. Mail letters to the NRIC-registered address of those without Singpass-linked mobile numbers.

Important Scam Safeguards:

• SMS notifications from gov.sg will never ask for replies, personal information, or links to click.
• No official payment messages will be sent through WhatsApp or other messaging apps.

Budget 2024: More Support for Singaporeans

The Assurance Package was enhanced in Budget 2024 with an additional $1.9 billion, offering:

• $600 to $900 in cash payouts for seniors over three years.
• Increased MediSave top-ups to help lower- and middle-income families manage healthcare costs.

$300 CDC Vouchers for Every Household

Starting Jan 3, 2025, all Singaporean households can claim $300 in CDC vouchers to offset daily expenses. These vouchers are accepted at:

• 23,000 heartland stores and hawker stalls.
• 400 outlets across major supermarket chains.

Plan Ahead and Access Your Benefits

With the Assurance Package Seniors’ Bonus and MediSave top-ups, the Singapore government continues its efforts to ease the cost of living pressures for its citizens.

Steps to Take:

1. Check your eligibility on govbenefits.gov.sg using Singpass.
2. Link your NRIC to PayNow or update bank details before Jan 27, 2025.
3. Stay vigilant against scams—double-check messages and never share sensitive information.

Share this article with family and friends to ensure they don’t miss out on these valuable benefits!