Singapore’s Updated National Plan For Older Persons (2021), drafted with “Asset 60: A Life of Dignity and Opportunities”, endeavors to support older Singaporeans in leading active lives. Nonetheless, cash handouts remain an important component that contributes to seniors’ well-being by facilitating their funding of some crucial expenditures.
Who Qualifies To Receive AP Seniors’ Bonus?
It is about who gets hurt the most. Minimum criteria are in place to ensure that seniors in need are made eligible. Potential Recipients must meet the following main requirements:
- Singapore Citizen Residing in Singapore.
- Aged 55 or over in the year of payment.
- Assessable income of $34,000 or less comprising the assessment year in question.
- Own no more than one property.
- The property owned carries an Annual Value of $31,000 at the maximum.
One of the strengths of the November Special Payment was its simplicity and timeliness. From 3 February 2025 onwards, payments were done via PayNow-NRIC, Giro, or GovCash.
Earn And Save Bonus Rewarding Working Seniors
Along with the Advance Payment, the Majulah Package, first unveiled in Budget 2025, introduced the Earn and Save Bonus to further encourage older workers to stay in jobs.
More than 570,000 eligible Singaporeans born in 1973 or earlier received their first annual CPF credit in March 2025-yet another boost for their retirement savings based on their earnings ($500–$6,000 every month).
| Monthly Income Range | Bonus Amount (Annual CPF Credit) |
|---|---|
| $500 – $2,500 | $1,000 |
| $2,501 – $3,500 | $700 |
| $3,501 – $6,000 | $400 |
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