The Senior Bonus is a component of the Assurance Package provided by the Singapore government to support seniors in their retirement years. The Senior Bonus is specifically targeted at older Singaporeans to help enhance their retirement income.
The Senior Bonus is a one-time cash bonus given to eligible Singaporeans aged 65 and above who have received the Workfare Income Supplement (WIS) or the GST Voucher – Cash Special Payment (GSTV-CSP). This bonus aims to provide additional financial support to older individuals who have been receiving regular assistance through these schemes.
The specific amount provided as the Senior Bonus can vary from year to year, and the government decides on the amount based on budget allocations and prevailing economic conditions. The Senior Bonus amount may also be subject to changes in government policies and announcements.
To find the most current information about the Senior Bonus under the Assurance Package, including the eligibility criteria and the amount provided, you can refer to the official websites of the Singapore Ministry of Finance or the Central Provident Fund (CPF) Board. These sources typically provide detailed information about government assistance schemes and their respective components, including the Senior Bonus, and any updates regarding eligibility and payouts.