In Singapore, there is no single "pension" check, but senior citizens receive support through various schemes based on income and housing, such as the Silver Support Scheme (up to $ 1 , 080 $ 1 , 0 8 0 per quarter) and Assurance Package bonuses ( 200 2 0 0 to $ 300 $ 3 0 0 for many seniors in 2025). Those on long-term aid receive $ 430 $ 4 3 0 quarterly, while CPF LIFE provides monthly, life-long payouts, with top-ups available.
Lower-income senior Singapore citizens will receive cash payments of $600 to $900 through the AP Seniors' Bonus. The AP Seniors' Bonus will be disbursed over three years, from 2023 to 2025. The last disbursement was made in February 2025.
$600 to $900 cash payouts over 3 years from 2023 to 2025 for eligible Singapore Citizens aged 55 and above. Cash payouts of $600 to $900 for eligible Singapore Citizens aged 55 and above in February over 3 years, from 2023 to 2025.
Schemes for Seniors - Caring For Seniors
The Silver Support Scheme provides quarterly cash payments of up to $1,080 for Singapore Citizens aged 65 and above (previously $900), who had low incomes during their working years and now have less in retirement.
The Retirement Savings Bonus is a one-off top-up for seniors with CPF retirement savings below the 2023 Basic Retirement Sum of $99,400. Eligible seniors can receive a one-off CPF top-up of up to $1,500, depending on the amount of CPF retirement savings you have.
The Silver Support scheme provides continuing financial support for Singapore Citizens aged 65 and above, who had low income during their working years and now have less in retirement. Please refer to cpf.gov.sg/sss for more details. If you wish to check your eligibility, you may log in to our e-services.
Eligibility. Adult Singaporeans aged 21 years and above will receive AP Cash in December every year from 2022 to 2026. In total, eligible Singaporeans will receive between $700 and $2,250 of AP Cash over these five years.
The Singapore pension system
It's only available to Singaporean citizens and permanent residents and gets funded by mandatory contributions from employers and employees.
Senior Citizens Savings Scheme (SCSS)
Eligibility: Individuals aged 60 years and above. Investment Limit: Minimum ₹1,000 and maximum ₹15 lakhs. Interest Rate: Approximately 8% per annum (subject to change). Tenure: 5 years, extendable by 3 years.
General Benchmarks. One survey estimated that ~S$1 million in savings is needed to retire “comfortably” in Singapore. In terms of monthly spending, retirees today spend anywhere from S$1,200 (basic) to S$3,500 (comfortable) per month. As of 2023, an average retiree spends approximately S$2,000 per month.
In 2022, the median household income per household member, after adjusting for inflation, is $3287 as shown in fig 5. By taking the threshold as 50%, a family with a household income per household member of $1643.50 and below is considered to be living in relative poverty.
All Singapore Citizens (SCs) aged 21 and above in 2025 will receive $600 in SG60 Vouchers. SC seniors aged 60 and above in 2025 will receive $200 more – a total of $800 in SG60 Vouchers. See Table 1 for more details. The SG60 Vouchers will be disbursed across the month of July.
Yes, retiring comfortably with $500,000 is achievable. This amount can support an annual withdrawal of up to $34,000, covering a 25-year period from age 60 to 85. If your lifestyle can be maintained at $30,000 per year or about $2,500 per month, then $500,000 should be sufficient for a secure retirement.
From 1 January 2025, the ERS was raised to double the current year's Full Retirement Sum to enable members to voluntarily commit more savings for even higher payouts. This allows members to get higher CPF LIFE monthly payouts of up to $3,440 for life from age 65 through CPF top-ups.
The retirement systems of the Netherlands, Iceland, Denmark and Israel were once again named the top four systems worldwide, according to the 2025 Mercer CFA Institute Global Pension Index. The same four topped Mercer's 2024 report.
For Singaporeans with an annual income of up to $34,000 and property ownership that meets the criteria: Annual Value up to $21,000: Eligible Singaporeans can expect a cash payout of $850. Annual Value between $21,001 and $31,000: The cash payout will be $450.
Monthly payouts
The payout eligibility age is currently 65. You can set aside the: Basic Retirement Sum, if you own a property with a remaining lease that can last you till 95, or. Full Retirement Sum.
Singapore citizenship offers numerous benefits, including extensive travel freedom, competitive employment opportunities, significant housing advantages, comprehensive healthcare benefits, and additional perks such as electoral rights and tax reliefs.
On top of a more senior-friendly transport system, elderly adults can enjoy discounted public transportation fares as well. Senior citizens are eligible to apply for a Senior Citizen Concession Card once they are 60 years old, which allows them to enjoy concessionary fares for bus and train services.
Elderly Persons Persons aged 65 years and over.
What pension and tax benefits can I claim?