Singapore’s Silver Support Scheme has been established to support senior citizens with financial assistance, especially those with lesser income during their employment period. The program’s aid for qualified older citizens residing in 1-2 room HDB flats will increase to as much as $1,080 per quarter by 2025. Here’s a brief overview of the program.
Who Qualifies for the Silver Support Scheme?
The Silver Support Scheme is designed specifically for elderly Singapore citizens who lack substantial financial means. Eligibility includes the requirements of being a Singapore citizen, aged 65 years old or older, and fulfilling the following conditions: mom.gov.
Low Lifetime Wages Requirement
If you are 55 years old, your CPF contributions must not exceed 140,000.Thisalsoappliestoself−employedandplatformworkerswho,onaverage,earnedlessthan27,600 a year in net trade income between the ages of 45 to 54 years old. cpf.gov.
Housing Criteria
As a participant of this scheme, you are required to live in a 5-room or smaller HDB flat. Moreover, you and your spouse must not own or jointly own more than two 5-room HDB flats, a private flat, or multiple private residential properties. mom.gov.
Household Income Threshold
Your household must not exceed the income cap of 2,300permonthperindividual.Participantswhoqualifyunderthe1,500 household income per person threshold, will receive a greater benefit. mom.gov.
How Much Support Will You Receive?
The amount you receive depends on your specific household income and the type of HDB flat you occupy.
Payment Breakdown by Housing Type
For households with monthly income per person of $1,500 or less:
1 and 2-room flats: $1,080 per quarter
3-room flats: $860 per quarter
4-room flats: $650 every three months
5-room flats (which you occupy but do not possess title to): $430 every three monthscpf.gov
For households with monthly income ranging between 1,500and2,300:
1 and 2-room flats: $540 every three months.
3-room flats: $430 every three months.
4-room flats: $325 every three months.
5-room flats (which you occupy but do not possess title to): $215 every three monthsmom.gov.
No Application Needed
One of the beneficial features of the Silver Support Scheme is the absence of an application requirement. All Singaporeans who are 65 years and above are subject to automatic eligibility review every year. All Singaporeans 65 and above are subject to automatic eligibility review every year. For additional information, please see Silver Support Schememom.gov.
Notification Process
If you are eligible, you will be notified via a letter in December of the preceding year. New eligible individuals will begin receiving payments in the quarter they turn 65. Silver Support recipients will start receiving payments in the quarter they turn 65. For more information, refer to the relevant section on Silver Support Schemecpf.gov.
Payment Schedule and Disbursement
The Silver Support Scheme issues payments on a fixed quarterly schedule as follows:
Quarterly Payment Dates
January to March: Payment is rendered on the 31st of December preceding the year of payment.
April to June: Payment is rendered on the 31st of March.
July to September: Payment is rendered on the 30th of June.
October to December: Payment is rendered on the 30th of September.
How Payments Will Be Received
Payments can be received through a variety of avenues, including:
Automated credit transfer to Payment Now accounts that are associated with the user’s ID number.
Funds will be automatically transferred to your bank account with DBS, POSB, OCBC, or UOB.
GovCash is available for individuals without a bank account.
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