Silver Support Scheme: Who Qualifies and What You Get
Learn how the Silver Support Scheme provides quarterly cash payouts to seniors with low lifetime and household income in Singapore.
The Silver Support Scheme is a government program designed to provide extra financial help to seniors. It offers cash payments to help supplement your income during retirement.
Who it's for
This scheme is intended for seniors who have had low lifetime wages and live in households with low income. It specifically targets individuals who may find it difficult to maintain a comfortable standard of living due to their previous earning history and current household financial situation.
What you get
You will receive cash payouts every quarter. These payments are meant to provide additional support to your overall retirement income, helping to bridge the gap for those who may need extra assistance to cover daily living costs as they age.
What it costs you
There is no cost to you for this scheme. The process is handled through an automatic assessment conducted by the relevant authorities, which means there is no need for you to manually submit an application or pay any fees to access these benefits.
The catch to know
Eligibility is not permanent. The government reviews your status every year based on your household income to ensure that the support is going to those who need it most. Because this is an annual review, your ability to receive the payouts may change if your household's financial situation changes.
How to apply
Since the assessment is automatic, you do not need to follow a traditional application process. To stay informed:
- Monitor your official notifications or account statements for updates regarding your eligibility.
- Keep an eye on your household income levels, as these are used for the annual review.
- Visit the official portal to check for any updates or further details: https://www.cpf.gov.sg