About 850,000 Singaporean seniors aged 55 and above will receive a cash payout of between $200 and $300 in February as part of the Assurance Package Seniors’ Bonus. This is aimed at helping seniors cope with the rising cost of living. The payout is part of a $1.9 billion enhancement to the Assurance Package announced at Budget 2024 to cushion the GST increase.
About 850,000 seniors will receive a cash payout in February as part of the Assurance Package .About 850,000 Singaporean seniors will receive between $200 and $300 from the Assurance Package Seniors’ Bonus in February to help alleviate the rising cost of living.
They must also be living in a property with an annual value of up to $31,000, as well as an annual accessible income not exceeding $34,000. About two million Singaporeans residing in Singapore will benefit from this top-up, regardless of their income and the type of property they live in.
SENIORS CASH PAYOUT COST OF LIVING BUDGET 2024 ASSURANCE PACKAGE
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