From 2015 to 2019, $3 billion has been invested to care for elderly Singaporeans in their golden years.

To honour our seniors’ contributions to nation building, an additional $14.1 billion has been set aside to give Pioneer and Merdeka Generation seniors greater peace of mind for their healthcare needs. Pioneer and Merdeka Generation seniors enjoy, among other benefits, more MediSave top-ups, additional MediShield Life Premium subsidies, and additional subsidies for outpatient care at polyclinics, public Specialist Outpatient Clinics and Community Health Assist Scheme (CHAS) clinics.

Singapore will continue to be a good place to enjoy your golden years, as we build senior-friendly communities that enable seniors to lead active and meaningful lives. These include expanding the Community Networks for Seniors island-wide by 2020. The Government has added 3,600 day care places, 2,600 home care places and 3,700 nursing home beds since 2015 to cater to seniors’ healthcare needs. More eldercare places and aged care services will be built by 2023 to cater to the needs of our silver generation.

We will also continue to ensure that all Singaporeans have enough for retirement, through higher CPF contributions for older workers from 2021, which will be paid into the CPF Special Account. CPF contribution rates will increase from 16.5% to 18.5% for Singaporeans aged 60 to 65, and 12.5% to 14% for those aged 65 to 70. There are also schemes in place to help increase one’s retirement income, such as the Silver Housing Bonus, Silver Support Scheme and Lease Buyback Scheme.

Let us make each day better, together.