Singapore’s elderly citizens are set to receive extra financial support in 2025 through the Assurance Package (AP) Seniors’ Bonus. The scheme helps older Singaporeans aged 55 and above cope with higher living costs brought about by the Goods and Services Tax (GST) increase and overall inflation.
Between 2023 and 2025, eligible seniors will receive a total payout ranging from S$600 to S$900, divided into equal annual amounts of S$200 to S$300. The payout amount depends on the senior’s income level, property ownership, and the annual value of their home. In February 2025, about 850,000 seniors received their payments through various channels, including PayNow-NRIC, GIRO, and GovCash.
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Purpose of the Seniors’ Bonus
The Seniors’ Bonus is one of several initiatives under Singapore’s Assurance Package, introduced in Budget 2022. While the overall package provides MediSave top-ups, CDC vouchers, and U-Save rebates, the Seniors’ Bonus focuses specifically on lower-income seniors, giving them direct cash payouts.
This financial support arrives every February, helping seniors manage household needs such as groceries, transport, and healthcare expenses. The consistent three-year payment cycle also ensures stability during the gradual GST rate adjustment period.
Eligibility Criteria for 2025
To receive the payout, seniors must meet specific conditions set by the Ministry of Finance. These ensure that the benefits are fairly distributed to those with genuine financial needs.
- Must be a Singapore Citizen aged 55 or above in 2025
- Must have an Assessable Income not exceeding S$34,000 for the Year of Assessment 2023
- Must own no more than one property
- Must live in a property with an Annual Value of S$31,000 or below
These requirements ensure that seniors with limited savings or assets receive meaningful assistance.
Breakdown of Annual Payments
The total benefit under the Seniors’ Bonus ranges from S$600 to S$900 over three years, depending on income and property details. The payment structure is as follows:
| Year | Annual Amount (S$) | Total (2023-2025) | Beneficiaries |
|---|---|---|---|
| 2023 | 200 – 300 | 600 – 900 | ~850,000 |
| 2024 | 200 – 300 | 600 – 900 | ~850,000 |
| 2025 | 200 – 300 | 600 – 900 | ~850,000 |
Payment Channels and Schedule
To ensure accessibility for all seniors, the government has arranged multiple payment options. Seniors who have linked their NRIC to PayNow receive funds first, followed by GIRO transfers, and finally GovCash withdrawals for those without bank accounts.
Payment Method Date Funds Became Available Access Information
| Payment Method | Date Funds Became Available | Access Information |
|---|---|---|
| PayNow-NRIC | 5 February 2025 | Credited to linked accounts |
| GIRO Transfer | 13 February 2025 | Deposited to bank accounts |
| GovCash | 21 February 2025 | Withdrawals via OCBC ATMs or LifeSG app |
Beneficiaries receive official notifications through SMS from gov.sg or physical letters if they do not have registered mobile numbers.
Part of a Bigger Financial Support Network
The Seniors’ Bonus complements other parts of the Assurance Package, such as the AP Cash Payout for adults, MediSave top-ups for healthcare, and CDC vouchers for local spending. Together, these measures reflect Singapore’s continued commitment to supporting citizens during periods of inflation and tax adjustments. The initiative not only provides short-term relief but also reinforces financial resilience for seniors who contributed to the nation’s growth over the decades.
