The Majulah Package aims to provide Singapore citizens born in 1973 or earlier with an additional boost for their retirement.
What is it
The Majulah Package comprises the following
- Annual Earn and Save Bonus
- One-time Retirement Savings Bonus
- One-time MediSave Bonus
Every Singaporean born in 1973 or earlier will receive at least one of the bonuses under the Majulah Package. The package will benefit about 1.6 million Singaporeans.
Earn and Save Bonus
The Earn and Save Bonus supplements eligible working seniors’ retirement savings through an annual CPF bonus. Eligible working seniors with lower income will receive a higher CPF bonus.
Retirement Savings Bonus
The Retirement Savings Bonus is a one-off bonus for seniors with CPF retirement savings below the 2023 Basic Retirement Sum of $99,400. Eligible seniors can receive a one-off CPF bonus of up to $1,500, depending on the amount of CPF retirement savings you have.
MediSave Bonus
The MediSave Bonus supplements medical savings of seniors through a one-off CPF bonus of up to $1,500, depending on your age, Annual Value of your residence, and the number of properties you own.
Find out more
For more information, you can: