The Singapore government has announced a $1.9 billion enhancement to the Assurance Package (AP) in Budget 2025 to help mitigate rising living costs and provide greater financial support for lower- to middle-income families. The budget also includes MediSave Bonuses, Retirement Savings Bonuses, and expanded cost-of-living measures to benefit Singaporeans across different age groups.
Upcoming Singapore $400-950 Cash Deposit
| Key Benefits | Details |
|---|---|
| Assurance Package Cash Payouts | $200 to $600 for eligible Singaporeans (February 2025) |
| MediSave Bonus | One-time top-up of $300 to $500 for Singaporeans born from 1974 to 2003 (February 2025) |
| Majulah Package MediSave Bonus | One-time top-up of $1,250 to $2,000 for Singaporeans born in 1973 or earlier (February 2025) |
| Retirement Savings Bonus | $1,000 to $5,100 for eligible Singaporeans based on CPF savings (February 2025) |
| Cost-of-Living Support | Additional CDC vouchers, U-Save rebates, and S&CC rebates |
| Official Website | govbenefits.gov.sg |
Assurance Package (AP): Increased Support for Singaporeans
The Assurance Package (AP) is designed to help Singaporean households manage rising living costs. It complements the GST Voucher (GSTV) scheme and includes direct financial support to eligible citizens.
Cash Payouts Under the Assurance Package
- 2.9 million Singaporeans aged 21 and above will receive $200 to $600 in February 2025.
- Payments will be automatically credited to eligible recipients.
MediSave Bonus for Singaporeans (Born 1974-2003)
- About 1.4 million Singaporeans will receive a one-time MediSave top-up of $300 to $500 in February 2025.
MediSave Bonus Under Majulah Package (Born 1973 or Earlier)
- 1.6 million Singaporeans will receive a one-time MediSave top-up of $1,250 to $2,000 in February 2025.
- This initiative will help offset rising MediShield Life premium costs and future healthcare expenses.
Retirement Savings Bonus: Boosting CPF for Older Singaporeans
The Retirement Savings Bonus (RSB) aims to provide additional financial security for seniors:
- 800,000 Singaporeans born in 1973 or earlier will receive a one-time CPF top-up of $1,000 to $5,100.
- The exact amount depends on the individual’s CPF retirement savings.
Eligibility and Payment Process
Who is Eligible?
- All eligible Singaporeans will automatically receive their payments starting from February 2025.
- Eligibility can be checked online via govbenefits.gov.sg using Singpass.
Notification Process
- Eligible recipients will receive an SMS notification from “gov.sg” in February 2025 after their benefits are credited.
- Citizens without a Singpass-registered mobile number will be notified via letter sent to their registered address.
- Beware of scams – the government will never request replies, clicks on links, or personal details through SMS or WhatsApp.
Majulah Package: Additional Support for Retirement
The Majulah Package is a long-term initiative aimed at boosting the retirement security of Singaporeans, particularly those born in 1973 or earlier. The package includes:
Key Benefits Under the Majulah Package
- Annual Earn and Save Bonus – Provides additional CPF savings for eligible working Singaporeans.
- One-time Retirement Savings Bonus – CPF top-ups ranging from $1,000 to $5,100, depending on retirement savings.
- One-time MediSave Bonus – Helps Singaporeans manage rising healthcare costs.
The lifetime cost of the Majulah Package has been increased from $8.2 billion to $9 billion, benefiting approximately 1.6 million Singaporeans.
Additional Cost-of-Living (COL) Support
The Assurance Package (AP) and Budget 2025 include additional cost-of-living measures from 2023 to 2025, such as:
-
Cash Payouts for Adults and Seniors
- Special payments in February 2023, June 2023, and September 2025 for eligible Singaporeans.
-
CDC Vouchers for Households
- Extra CDC Vouchers issued in January and June 2025 to help with daily expenses.
-
Utility Rebates
- Additional U-Save rebates for HDB households to offset electricity and water bills.
-
Service & Conservancy Charges (S&CC) Rebates
- Extra rebates to assist eligible HDB households with monthly town council fees.
-
Education Support for Children
- Top-ups to the Child Development Account, Edusave Account, and Post-Secondary Education Account in 2023.
FAQs: Assurance Package and Budget 2025
1. Who is eligible for the Assurance Package cash payouts?
All Singaporeans aged 21 and above in 2025 will receive $200 to $600, depending on their income and property ownership status.
2. When will the MediSave Bonus be credited?
The one-time MediSave Bonus will be credited in February 2025 for eligible Singaporeans.
3. How do I check if I qualify for the Retirement Savings Bonus?
You can check your eligibility on govbenefits.gov.sg using Singpass.
4. Will I receive a notification about my benefits?
Yes, eligible recipients will be notified via SMS from “gov.sg” or through a letter if they do not have a Singpass-registered number.
5. Are there any additional cash payouts under Budget 2025?
Yes, apart from the Assurance Package, there will be one-time cost-of-living support measures, including CDC vouchers and U-Save rebates.
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