$2,120 Advance Payment Offered to Retired Women—But Only in 3 Districts of Singapore. The government of Singapore has launched various programs to support its citizens who are in a vulnerable condition, providing them with monetary assistance. The rumor is that the government has initiated an advance payment worth $2,120 to offer financial aid to eligible retired women. To learn more about the topic “$2,120 Advance Payment Offered to Retired Women—But Only in 3 Districts of Singapore,” read the complete article.
$2,120 Advance Payment Offered to Retired Women
The advance payment worth $2,120 is provided to eligible citizens to provide them with a financially stable life. These benefits are launched by the Singapore government for low-income senior citizens. There is no official information about the districts in which this payment will be made. There is no need to fill out an application form, as the payments will be directly made to the respective bank accounts of eligible retirees.
The Central Provident Fund, introduced in 1955, is Singapore’s primary retirement savings scheme. Initially met with criticism as a forced retirement savings plan, the CPF has since become a trusted system for retirement security, expanding to include healthcare and housing benefits. The advance payment is for both men and women, irrespective of gender. However, the applicants must meet the eligibility criteria to receive this payment.
Eligibility Criteria
To be eligible for this payment, an individual must fulfil the eligibility criteria as follows:
- Age Requirement: The individual must be a senior citizen above the official retirement age (63 years in Singapore). This will increase to 64 by the end of 2025.
- CPF Contributions: Applicants must have actively contributed to the CPF during their working years.
- Citizenship and Residency: The individual must be a Singaporean citizen or a permanent resident according to the rules established by the Singaporean government.
- Health Employment Status: Senior citizens who desire to remain employed must be in a good health condition and be medically fit. Individuals who require additional support may be eligible for the Silver Support Scheme, which provides quarterly payments to low-income seniors.
- Income and Assets Threshold: This scheme targets low-income seniors; that’s why it is mandatory to make sure your income and asset value are below the limit set by the government.
- Property Ownership: The individual must not own more than one property.
How to Claim?
To receive this payment, you need not fill out an application form, as the payments will be directly made to the respective bank accounts of eligible retirees. However, to make sure you receive your payment on time, you can follow the steps given below:
- Check Eligibility: The most important step is to verify your eligibility to make sure you are eligible for the payment. You have to check your age, income, property ownership, and home’s annual value.
- Link PayNow-NRIC: To get your payments on time, you can link your PayNow to NRIC. It is the fastest way to receive your payments. Many banks offer this setup through mobile banking.
- Information Update: Always keep your bank and personal information updated to avoid inconvenience and delayed payments.
Additional Support Benefits for Senior Citizens
Besides the increased seniors’ bonus, the government of Singapore has launched various other initiatives to offer more financial support to seniors and retirees. Starting in 2026, the eMatched MediSave scheme will be introduced, providing a dollar-for-dollar match for every voluntary cash top-up made to the MediSave accounts of eligible CPF members aged 55 to 77, up to an annual cap of $1,000. The main objective of this program is to encourage seniors to save more for their future medical needs, especially those with lower MediSave balances.
The Silver Support Scheme, which offers additional quarterly payments to seniors with limited financial resources, will also see a raise. Starting from 2025, the quarterly payouts will be raised by 20%, providing even more assistance to seniors who have less to rely on in retirement. Moreover, the qualifying household income per person threshold for this scheme will be raised from $1,800 to $2,300, allowing more seniors to qualify for the support.
The Seniors Bonus Increase is a component of the wider Maujulah Package Fund, and its objective is to increase economic assistance for lower-income seniors. In this scheme, retirees will get extra bonuses via the Earn-and-Save program and the Central Provident Fund (CPF). The special payout scheduled for 2025 is designed to help senior citizens overcome their financial challenges and maintain their quality of life.