The primary, automatic, and ongoing senior citizen grant in Singapore is the Silver Support Scheme, which provides quarterly cash payments of up to $1,080 from 2025 for eligible Singaporeans aged 65 and above with low incomes during their working years. No application is required, and eligibility is based on CPF contributions, HDB flat type, and household income.
You must be aged 20 and below, or 55 and above, in the disbursement year. 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.
$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.
Who qualifies. To be eligible for Silver Support, you must be a Singapore citizen aged 65 and above, and must meet all of the following criteria: Contributed not more than $140,000 to your CPF by age 55.
Schemes for Seniors - Caring For Seniors
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.
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.
Hindu Undivided Family (HUFs) and Non-resident Indians (NRIs) are not eligible to invest in Senior Citizen Savings Scheme.
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.
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.
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.
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.
Social Security and Supplemental Security Income (SSI) retirement benefits are available to seniors who have worked and paid Social Security taxes. For those with limited income and resources, Supplemental Security Income (SSI) provides additional monthly cash assistance.
In Singapore, you'll typically enjoy senior citizen discounts once you turn 60 years old.
Has your income declined or have you experienced a loss of financial resources? You may be able to get additional income through the Supplemental Security Income program, which helps seniors and the disabled who have limited income and financial resources.
Cash deposit limit in your Savings Account
The cash limit set per day, per transaction, and from one person is ₹2 lakhs. On the other hand, the cash deposit limit in a Savings Account per financial year is set at ₹10 lakhs. Your bank will report a transaction that exceeds this limit to Income Tax authorities.
To receive the 2025 GSTV – MediSave, you must fulfil the following criteria: You must be a Singapore citizen, residing in Singapore; You must be aged 65 and above in 2025; The AV of your home (as indicated on your NRIC) as at 31 December 2024 must not exceed $31,000; and.
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 Citizens (SC) or Permanent Residents (PR) whose address is registered at an HDB flat and SCs registered at a private residential property are eligible to claim the $300 and $100 Climate Vouchers under the enhanced Climate Friendly Households Programme.
The 7-3-2 rule is a financial strategy for wealth building, suggesting it takes 7 years to save your first major financial goal (like a crore), then accelerating to achieve the next goal in 3 years, and the third goal in just 2 years, leveraging compounding and disciplined, increased investments (like a 10% annual SIP hike). It highlights how returns compound faster over time, drastically reducing the time needed for subsequent wealth targets, emphasizing patience and consistent, growing contributions.
1. Self-employed persons and platform workers should also have an average annual net trade income of not more than $27,600 when they were aged 45 to 54. 2. Senior should not own, and not have a spouse who owns, a 5-room or larger HDB flat or private property or multiple properties.
The new tax deduction for seniors 65 and older allows you to reduce your taxable income by up to $6,000. Taking the new senior deduction can mean less tax or potentially an even bigger tax refund when you file your return.