The Assurance Package is one of the most beneficial permanent GST Voucher schemes provided by the government of Singapore. Introduced in the budget 2012, the Allowance Package aims to help the low-income households of Singapore to pay for their GST expenses. It comprises of many cash payments for adults along with Assurance Package Medisave for children and seniors, Assurance Package for Senior’s Bonus and Cost of Living Support Measures, etc. Senior citizens living in Singapore can get a bonus of up to $600 to $900 on qualifying the eligibility criteria.
$600-$900 Assurance Package for Seniors
If you are a low-income senior living in Singapore, then you can get a significant benefit of a $600-$900 Assurance Package that will be provided by the government of Singapore to eligible senior citizens only. You can check your eligibility criteria before moving to any further procedures. The Assurance Package bonus for seniors was initiated by the Singaporean government in 2023 which intended to be provided till the year 2025. It is advised to all the seniors that you must not have more than one property or in otherwise case, your eligibility will be neglected by the government of Singapore. In addition to, those citizens who are living in Singapore and hold citizenship of other countries and citizens who hold citizenship of Singapore and another country simultaneously will not be able to claim the Allowance Package for seniors.
The bonus amount will depend on the net income of the previous year in which it was assessed and the net values of your property. First, let’s understand what is assessable income. The term ‘Assessable Income’ refers to the total income after deducting allowable expenses and donations. For example, if your income is $35,000 and after deducting your expenses of $5,000, your Assessable Income will be $35,000 – $5,000 = $30,000. As we are in the year 2024, you can claim the Allowance Package for the senior’s bonus. For that, you are allowed to check your eligibility by visiting e-services.
$600-$900 Assurance Package for Seniors Overview
| Post Title | $600-$900 Assurance Package for Seniors |
| Country | Singapore |
| Governed by | The government of Singapore |
| Category | Government aid |
| Applicable for | Low-income seniors |
| Payment amount | $600 to $900 |
| Year | 2024 |
| Official website | govbenefits.gov.sg |
How Much You Can Receive Under $600-$900 Assurance Package for Seniors?
As per the guidelines of the government of Singapore, your bonus payment amount will depend on your net income and the net value of your home. As per the disbursement year 2023, the citizens aged 55 to 64 having net value of their home equal to or below $13,000 have claimed a payment of $250 and the citizens of age 65 and above have claimed a total of $300. On the other side, the citizens aged between 55 to 64 having a net value of more than $13,000 and up to $21,000 have claimed an Allowance Package of $200. Citizens above 65 have the same bonus amount. You can check the average bonus you are entitled to claim in the disbursement year 2024 and 2025 with an assessable income of $34,000 in the following table:
For net value $21,000 (home)
| Disbursement year | Amount of 55 to 64 | Amount for 65 and above |
| Feb 2024 | $250 | $300 |
| Feb 2025 | $250 | $300 |
| Total | $750 | $900 |
For net value above $21,000 and up to $25,000 (home)
| Disbursement year | Amount of 55 to 64 | Amount for 65 and above |
| Feb 2024 | $200 | $200 |
| Feb 2025 | $200 | $200 |
| Total (including 2023) | $600 | $600 |
Are You Eligible for the $600-$900 Assurance Package for Seniors?
The Singaporean government provides several benefits under the Assurance Package such as AP Cash, AP Medisave, AP Senior’s Bonus, AP U-Save, and Cost of Living Support Measures. If you are a low-income senior living in Singapore, you must be aware of the eligibility requirements to qualify for the $600-$900 Assurance Package for seniors. I have provided the eligibility criteria in the points listed below:
- You must be a citizen of Singapore. In addition to it, you must be residing in the country.
- At the time of disbursement, you must be at least 55 years old or above to claim the senior’s bonus.
- If you are receiving the senior’s bonus in 2024, the income you earned three years ago which is 2021 that is assessed two years ago (2022) must not be more than $34,000.
- For the disbursement year of 2024 and 2025, the annual value of your home (as indicated on your NRIC) as of July 31st of the previous year must not exceed the limit of $25,000.
- You must not have more than one property.
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