**Assurance Package Bonus: 850,000 Older Singaporeans to Receive Up to S$300 in February**
**SINGAPORE:** In a move to provide financial relief to lower-income senior citizens, the Ministry of Finance (MOF) announced that around 850,000 older Singaporeans will be receiving cash benefits ranging from S$200 to S$300 in February. Additionally, about 2 million Singaporeans are set to receive a MediSave top-up of S$150 next month, as per the press release issued on Wednesday, Jan 15.
**Eligible Seniors to Benefit from Assurance Package**
Under the Assurance Package Seniors’ Bonus, eligible Singaporean seniors aged 55 and above will receive cash payouts of S$600 to S$900 over three years. Moreover, all Singaporeans aged 20 years and below, as well as those aged 55 and above, will receive MediSave top-ups totaling S$450 over the same period. These benefits were initially introduced in Budget 2022 and have been disbursed annually since 2023.
Eligibility Criteria
The MOF specified that seniors aged 55 and above, residing in Singapore, and owning not more than one property, will qualify for the Assurance Package Seniors’ Bonus. They should also live in properties with an annual value of up to S$31,000 and have an assessable income below S$34,000.
Seniors aged 55 to 64 residing in properties with an annual value of up to S$21,000 will receive S$250 in February, while those aged 65 and above will get S$300. Those with properties valued between S$21,000 and S$31,000 will receive S$200.
Payment Disbursement Details
Eligible seniors could receive their cash payouts as early as Feb 5, depending on their chosen payment mode. Citizens using PayNow linked to their NRIC can expect the payouts from Feb 5. For recipients utilizing GIRO or GovCash, the payments will be disbursed on Feb 13 and Feb 21 respectively.
MediSave Top-Up Information
Singaporeans aged 20 and below, or 55 and above, will receive MediSave top-ups automatically credited to their CPF accounts starting Feb 11. Regardless of their property value or assessable income, about 2 million Singaporeans will benefit from this initiative.
Notifications and Security Measures
MOF assured that eligible recipients will receive notifications via SMS once the benefits have been credited to their accounts. Recipients without a Singpass-registered mobile number will receive a letter at their NRIC address. To prevent scams, the SMS notifications will only be sent from ‘gov.sg,’ with recipients urged not to reply, click on any links, or provide personal information.
As Singaporeans eagerly await these financial benefits, the government’s efforts to provide relief to the most vulnerable in society are commendable. The Assurance Package Seniors’ Bonus and MediSave top-ups will undoubtedly ease financial burdens for many families during these challenging times. Let us all take a moment to appreciate the dedication of those working behind the scenes to ensure the well-being of our community.