The Singapore government has launched the Majulah Package, a new one-off bonus designed to help seniors who may have insufficient retirement savings. This targeted initiative aims to offer direct financial relief to older Singaporeans whose CPF balances are below the Basic Retirement Sum (BRS) of $99,400 as of 2023.
With a payout ranging from $1,000 to $1,500, the Majulah Package is a major part of the government’s broader efforts to boost retirement adequacy. This initiative is especially crucial for seniors who have spent years in low- or middle-income jobs and now face financial challenges in retirement.
Importantly, no application is required—eligible seniors will automatically receive the bonus in December 2024. The government has made the process simple, removing administrative barriers and ensuring that assistance reaches those who need it most.
Table of Contents
Overview Table
| Category | Details |
|---|---|
| Payment Type | One-time bonus |
| Disbursement Month | December 2024 |
| Bonus Amount | $1,000 or $1,500 |
| Eligibility Age | Born in 1973 or earlier |
| CPF Savings Threshold | Below $99,400 |
| Property Requirement | AV ≤ $25,000, not more than 1 property |
| Residency | Must reside in Singapore |
| Application Needed | None (automatic disbursement) |
| Official Website | https://www.cpf.gov.sg |
What Is the Majulah Package?
The Majulah Package is a one-time bonus scheme aimed at boosting retirement security for Singaporean seniors. The bonus will be credited directly into CPF accounts, with no action required from the recipients.
The goal is to provide support to those with limited CPF retirement savings—specifically those who have not yet met the BRS of $99,400. Seniors will receive either $1,000 or $1,500, depending on their CPF balance. The package has been carefully designed to direct aid to those with the greatest financial need.
Who Is Eligible?
To qualify for the Majulah Package, individuals must meet all of the following criteria:
1. Age Requirement
- Must be born in 1973 or earlier (i.e., aged 51 or older in 2024).
2. Citizenship and Residency
- Must be a Singapore Citizen.
- Must be residing in Singapore.
3. CPF Retirement Savings Threshold
- Total CPF retirement savings must be below the 2023 Basic Retirement Sum (BRS) of $99,400.
- Retirement savings include balances in the Retirement Account (RA) and CPF LIFE.
- For seniors without an RA, combined balances in the Ordinary Account (OA) and Special Account (SA) are considered.
4. Property Ownership
- Must reside in a property with an Annual Value (AV) of $25,000 or less.
- Must not own more than one property.
These clear eligibility conditions help ensure that only seniors with limited financial assets benefit from the bonus.
Bonus Tiers Based on CPF Savings
The amount each senior will receive depends on their CPF savings:
| CPF Retirement Savings | Bonus Amount |
|---|---|
| Less than $60,000 | $1,000 |
| $60,000 to below $99,400 | $1,500 |
This tiered approach provides higher aid to those with lower savings, offering a more impactful boost to seniors who are most at risk of financial insecurity.
When Will the Payment Be Made?
The Majulah Package bonus will be credited in December 2024, just before the end of the year. This timing helps ensure that seniors receive timely support as they plan their year-end and holiday expenses.
There is no application process. The CPF Board will identify eligible seniors based on their CPF balances and living status as of 2024.
Seniors should ensure their CPF details and contact information are up to date to avoid delays in receiving their bonus.
How the Payout Is Delivered
The one-time bonus will be automatically credited to the senior’s CPF account. The funds can then be used in accordance with CPF rules, including retirement income payouts under CPF LIFE, or other eligible uses.
Because the money is deposited into CPF accounts, it supports long-term retirement adequacy rather than being used for short-term spending.
This structure ensures responsible use while still providing financial relief to those in need.
Why This Package Matters
As Singapore’s population continues to age, many seniors face the challenge of insufficient retirement savings, especially those from lower-income backgrounds or who held informal jobs without CPF contributions.
The Majulah Package addresses these gaps directly:
- Offers immediate financial relief
- Enhances CPF balances for long-term income
- Targets aid to those with the least resources
- Removes the need for applications or complex processes
It complements other senior assistance schemes like the Silver Support Scheme and Workfare Income Supplement, forming a comprehensive support framework.
Where to Learn More
For more information, visit the CPF Board’s official portal:
👉 https://www.cpf.gov.sg
FAQs
1. Do I need to apply for the Majulah Package?
A = No, the payment is automatic if you meet the criteria.
2. How much will I receive?
A = Depending on your CPF savings, you will get $1,000 or $1,500.
3. When will the payment be made?
A = You’ll receive it in December 2024.
4. Where will the money go?
A = It will be credited to your CPF account to support your retirement.
