Singapore’s $1,080 Senior Support Payment – When & How to Receive It

Singapore’s Old Age Support Scheme: Information about the $1080 payment

This program of the government of Singapore is quite important regarding financial assistance. It is called the Silver Support Scheme (SS Scheme) through which elderly people receive financial assistance at retirement age. This scheme helps senior citizens who are poor in terms of income, savings, and can get almost nothing from their direct relatives.

Eligible seniors under this scheme will be given a sum of $1080 every three months to meet their basic requirements. This quantity facilitates in meals, fitness care, power and water payments and different regular fees. Thus, the government guarantees that the aged do not go through monetary crisis and can lead a dignified lifestyles.

What is the purpose of the $1080 payment?

After leaving the formal working life, many elderly people are faced with financial troubles, especially those who barely have any savings or little financial support from family members. With this context, the government of Singapore introduces the Silver Support Scheme aimed at extending financial aid to low-income seniors on a quarterly basis.

The main objectives of this payment:

• To help the financially weak elderly.
• To reduce the cost of their basic needs such as food, health care and utility bills.
• To help senior citizens live a self-reliant and dignified life.

A total amount of $4320 is provided every year under this scheme, which becomes a significant financial support for the elderly.

What is Silver Support Scheme?

The Silver Support Scheme was launched in 2016 and is a part of Singapore’s comprehensive social welfare program. While schemes like Central Provident Fund (CPF) help people save for retirement, not everyone is able to save enough.

In such a situation, this scheme provides additional financial support to those elderly who have had low income and who have not been able to save enough in their working life.

The main objective of this scheme Objective:

• To help the elderly with low incomes
• To make other government assistance schemes like CPF payments, health care subsidies and housing support more effective
• To provide financial security to the elderly so that they can live their lives without worries.

How ​​does this scheme work?

Silver Support Scheme is operated in a very simple and effective manner. The elderly do not need to apply separately for this, rather the government determines the eligibility through an automated process.

How ​​is eligibility decided?

• The government automatically checks the eligibility of the elderly with the help of various government records (such as CPF contributions, residential information and household income).
• If a senior citizen is eligible for this scheme, he is automatically included in this scheme and information about the payment is given.
• This amount is deposited in their bank account once every three months, so that they keep getting financial assistance regularly.

Eligibility criteria for Silver Support Scheme

Only those aged people get the gain of this scheme, who’re absolutely financially vulnerable. For this, the government has set a few clean and fair eligibility criteria.

Who is eligible for this scheme?

• Self-hired people who have contributed $140,000 or less to CPF Ordinary and Special Accounts via the age of 55.
• Self-employed people whose annual average net profits (between the a while of 45 and 54) should no longer exceed $27,600.
• The applicant have to stay in a 1- to 5-room HDB flat.
• The monthly per capita income in his or her household should not exceed $2,300.
• The applicant or his or her spouse must not own private property.
• They must not own a 5-room HDB flat or larger (although exemptions may be given under certain circumstances).
• They must not own more than one property in their name.

Automatic How does the assessment work?

The best part about this scheme is that seniors do not need to fill out any application. The government automatically determines eligibility using the following data:

• CPF contribution records
• Residential information from HDB
• Household income data from government agencies

Therefore, seniors who are eligible will be automatically notified by the government and they will not need to submit any additional documents.

Payment structure under the Silver Support Scheme

The amount of assist below the scheme relies upon at the sort of accommodation a senior lives in and their household profits.

• Seniors who live in small flats (1- to 3-room HDB residences) and have very low earning receive the highest quantity of help.
• Seniors who stay in 5-room apartments are eligible if they meet certain conditions.
• Seniors who’re already beneficiaries of the ComCare Long-Term Assistance (LTA) scheme are paid a hard and fast quarterly amount of $430, irrespective of their income and accommodation.

HDB Flat Type	Monthly Income ≤ $1,500	Monthly Income: $1,500–$2,300
1- and 2-Room Flats	$1,080 per quarter	$540 per quarter
3-Room Flats	$860 per quarter	$430 per quarter
4-Room Flats	$650 per quarter	$325 per quarter
5-Room Flats	$430 per quarter	$215 per quarter

Timeline and mode of payment

This scheme makes payments to the elderly once every three months, so that they get regular financial support.

When is the payment made?

Under this scheme, payments are made four times a year:

Quarter	Payment Date
January to March	31 December (previous year)
April to June	31 March
July to September	30 June
October to December	30 September

How ​​can the payment be received?

The following options are given to the elderly to receive the payment:

1. PayNow (Bank account linked to NRIC): If the bank account of the senior citizen is linked with PayNow, then the payment is transferred directly to his account.
2. Bank Transfer: If the bank account of the senior citizen is registered, then the quantity is sent at once to the bank account.
3. GovCash: Senior citizens who do now not have a financial institution account can acquire payments through the GovCash carrier.

Conclusion

The Silver Support Scheme is an vital economic assistance scheme for senior citizens in Singapore.

• Under this scheme, eligible senior residents are given an amount of $1080 every three months to enhance their life-style.
• There is no need to apply for this scheme one by one because the authorities automatically determines eligibility.
• This scheme allows senior citizens stay a self-enough and dignified life.

If you or a loved one is eligible for this scheme, make sure they’re taking full gain of this assistance.

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