Singapore is set to give 850,000 low-income citizens aged 55 or higher a bonus of SGD200-300 (US$146-220) as part of a support package to be disbursed next month.
The Assurance Package Seniors’ Bonus applies to senior citizens who do not own more than one property with annual income of SGD34,000 or lower, according to the Ministry of Finance.
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An elderly woman (L) and her care-taker sit in a park in Singapore on Sept. 29, 2016. Photo by AFP |
The annual value of their property must be SGD31,000 or lower.
Last year the Assurance Package program was approved for a $1.9 billion increase to fund its citizen support.
As part of the fund, every Singaporean aged 20 years and below, or 55 years and above, will also receive an AP MediSave top-up of $150 in their accounts.
The payment is set to reach around two million locals.
