Seniors in Singapore increasingly demand the support of retirement funds due to the high and rising costs of living. There are new updates to the Majulah Package in October 2025. The $9 billion package is for citizens who were born in 1973 or earlier. More than 1.6 million individuals are receiving better bonuses. Healthcare and savings account top-ups are among the changes. The older adults in their 50s are secured more. Understand how this update enhances your future.
What Is the Majulah Package?
The Majulah Package’s main goal is to make sure that the mid-career citizens retire ready for the day. It gives three major bonuses for CPF growth. Prime Minister Lee, during the Budget 2024, unveiled it. Funds are directly credited to CPF accounts with interest. Lower and middle-income groups get the first priority. It operates in conjunction with Workfare to cover a larger area.
Key October 2025 Updates Revealed
The MediSave Bonus will be increased by $500 in October 2025. This will bring the total to $2,000 for each eligible senior. The step is taken to offset the hike in MediShield Life premiums. The total cost of the package rises to $9 billion. Retirement Savings Bonus is still $1,000 or $1,500. Earn and Save Bonus has a range of $400 to $1,000 for a year. The aforementioned changes are a much-needed healthcare relief.
Who Can Claim Majulah Benefits?
Retired citizens of Singapore born in or before 1973 are the qualifying ones. The CPF amount must be less than $99,400 for the Retirement Savings Bonus. There are property rules that limit ownership for the full amounts. The MediSave Bonus has no income criteria. The Earn and Save Bonus is meant for workers with a monthly income of up to $6,000. Concessions are given to caregivers and disabled people. CPF Board checks eligibility automatically.
When Do Payments Arrive?
MediSave top-ups will be credited in accounts by December 2025. Retirement Savings Bonus will be credited by late 2024 for the early groups. Earn and Save Bonus payments start in March 2025. The income data from 2024 will be used for the payments. CPF will add funds to either Retirement or Special Accounts. Recipients will be notified through SMS or letters. Update your Singpass to ensure uninterrupted delivery.
Why This Update Helps Seniors
Medical expenses consume a large part of fixed incomes. The additional $500 MediSave Bonus reduces the burden of premiums. It allows an allocation of funds for daily requirements. CPF growth results in higher monthly payouts in the future. The young seniors continue to be a part of the workforce. This support leads to the establishment of financial stability for a long time.
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