Over 570,000 eligible senior citizens will benefit from the first payment of this annual bonus in March
In March 2025, more than 570,000 eligible Singaporean seniors will receive their first Earn and Save Bonus payment, with amounts of up to S$1,000. This initiative, announced by the Ministry of Manpower (MOM) on March 20, is part of the government’s broader effort to support retirement savings for working seniors, especially those born between 1960 and 1973.
The Earn and Save Bonus is a key element of the S$9 billion Majulah Package introduced in 2024. It targets working Singaporeans born in 1973 or earlier, with eligibility criteria based on income and property ownership. To qualify, applicants must have earned between S$500 and S$6,000 monthly in the previous year and live in a property with an annual value of S$31,000 or less. Additionally, they should not own more than one property.
The bonus amount varies according to the recipient’s monthly income:
S$500 to S$2,500: S$1,000S$2,500 to S$3,500: S$700S$3,500 to S$6,000: S$400To check if they qualify, seniors can log into the govbenefits website using their Singpass. Once the bonus is credited to their CPF accounts, recipients will be notified via SMS in April 2025. Those without a Singpass-registered mobile number will receive a notification letter at the address on their identity card.
MOM has also cautioned against potential scams, reminding citizens that official SMS notifications will not ask for replies, links to be clicked, or any personal information. Messages regarding the payment will never be sent via WhatsApp or other messaging apps.
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Pic of the week: Sunset at margate beach
The first day’s journey was through the pink fields
The first day’s journey was through the pink fields
The first day’s journey was through the pink fields