The Singapore government continues to support senior citizens with financial assistance programs to ease the cost of living. One such initiative is the Assurance Package (AP) Seniors’ Bonus, which provides eligible seniors with annual cash payouts from 2023 to 2025. The payout amount ranges from $600 to $900, depending on income and homeownership status.
Eligibility for the 2025 Seniors’ Bonus
To qualify for the 2025 payout, applicants must be Singaporean citizens aged 55 and above, residing in Singapore during the payout year. Their assessable income for the Year of Assessment 2023 (based on 2022 earnings) should not exceed $34,000. Additionally, they must own no more than one property, and the Annual Value (AV) of their home should not exceed $25,000.
Payment Amounts and Disbursement
The payout amounts vary based on age and home value. Seniors aged 55-64 receive $250 if their home’s AV is up to $21,000 and $200 if it is between $21,001 and $25,000. Those aged 65 and above receive $300 for homes with an AV up to $21,000 and $250 for those valued between $21,001 and $25,000. Payments are directly credited to registered bank accounts.
How to Receive the Payout
Eligible seniors can verify their status online using Singpass. If all personal details are accurate, the payout is automatically disbursed without requiring any additional application. Ensuring updated bank details helps prevent delays in receiving the funds.
Additional Government Support for Seniors
Beyond the Seniors’ Bonus, other financial aid schemes include the GST Voucher Scheme, which provides cash payouts and utility rebates, and the Silver Support Scheme, offering quarterly payments to low-income seniors. The Pioneer and Merdeka Generation Packages further support healthcare and MediSave top-ups.