by Growing Needs | Apr 25, 2025 | A Better Tomorrow, Financial Services/Grants
As Singapore’s population continues to age, the government has introduced both new measures and bolstered existing initiatives to ensure that our seniors age gracefully. Ageing is not simply about growing older – it’s about evolving, adapting, and continuing to live with purpose, dignity, and vitality.
Budget 2025 reflects this commitment with a suite of initiatives aimed at strengthening retirement adequacy, improving access to healthcare, and promoting active aging. From support for active ageing, healthcare, retirement and employment support to housing and caregiver enhancements, it drives home a clear message – We need to invest in and support our seniors.
Credits to encourage Singapore Citizens and Permanent Residents to lead a healthier and active lifestyle through sports. The $100 SG60 ActiveSG Credits will be available to all Singaporeans and Permanent Residents who log in to MyActiveSG+ between 2 June and 31 December 2025
With these credits, seniors can access gyms, swimming pools, tai chi classes, or yoga sessions—all of which are low-impact and senior-friendly.
A new five-year initiative will match voluntary MediSave top-ups dollar-for-dollar, up to S$1,000 annually, for eligible seniors aged 55 to 70. This helps eligible Singapore Citizens strengthen MediSave adequacy by matching cash top-ups made to their MediSave Accounts (MA).
To qualify, individuals must have:
This scheme aims to assist approximately 184,000 seniors in bolstering their healthcare savings. The additional funds can be utilized to pay for insurance premiums and approved medical treatments, thereby reducing out-of-pocket expenses for healthcare.
This scheme helps eligible senior Singapore Citizens with lower retirement savings to save more by matching cash top-ups made to their Retirement Accounts (RA). This will boost their monthly payouts in retirement.
The MRSS, which provides dollar-for-dollar matching grants of up to S$2,000 annually on cash top-ups to the Retirement Account, will be expanded from January 2026 to include Singaporeans with disabilities of all ages. The lifetime cap remains at S$20,000.
The MRSS matching grant, combined with the stable interest rates of up to 6% per annum on RA savings will help seniors grow their retirement funds.
The EASE programme, previously available only to HDB residents, will now extend to seniors living in private properties until 2028. It subsidizes the installation of age-friendly fittings like grab bars and slip-resistant flooring to promote safer living environments.
Home safety is a topic close to the hearts of many caregivers and seniors. Accessibility and availability of home safety features eases the burden of caregivers, giving them more peace of mind that their loved ones are living in a safe environment.
In the 2025 budget, means-tested subsidies for long-term care services by MOH-funded long-term care providers are set to increase. The financial support aims to relieve caregiving expenses for households caring for persons with moderate to severe disabilities.
Additionally, the Home Caregiving Grant will rise from S$400 to S$600 per month, with eligibility expanded to households with a per capita income up to S$4,800. These enhancements are expected to benefit at least 80,000 seniors and provide better financial support for caregivers. Here are some courses and workshops for caregivers looking for support in their caregiving journey.
The SEC, which provides wage offsets to employers hiring Singaporeans aged 60 and above and earning under S$4,000 monthly, will be extended until December 31, 2026. The highest support tier will now apply to workers up to 69 years old, aligning with the increased re-employment age. Employers can receive up to 7% reimbursement of wages for workers aged 69 and above.
Extending wage offsets encourages companies to keep older workers on payroll, especially with the re-employment age rising. This goes a long way to boost senior engagement, explore their changing role in the workforce, making them feel more valued in society.
Singapore’s Budget 2025 introduces a comprehensive and forward-looking suite of measures that significantly enhance the quality of life for seniors. Be it on the financial and healthcare front, we also see a great emphasis placed on aging with dignity. The role of the caregiver is also increasingly recognised in providing support to seniors.
Growing Needs grew out of our own encounters with caring for our aging parents and reflecting on the Growing Needs that we ourselves would face as we advance in years. We hope to build a community that will learn, share and contribute towards caring for the growing needs of our loved ones.
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