Making Criteria of Silver Support Scheme More Flexible for Initially Ineligible Seniors
Ministry of ManpowerSpeakers
Summary
This question concerns Mr Zhulkarnain Abdul Rahim’s inquiry regarding more flexible Silver Support Scheme criteria for seniors who depleted their CPF savings for housing and medical costs after age 55. Minister Dr Tan See Leng explained that the scheme targets those with lower lifetime earnings, noting the Total CPF contributions threshold was doubled to $140,000 in 2021. He added that the monthly per capita household income threshold will rise to $2,300 in 2025 and quarterly payments have been increased by 20% to keep pace with inflation. Minister Dr Tan See Leng stated that the CPF Board can holistically review unique cases on a case-by-case basis for seniors who write in to request an assessment. Furthermore, seniors in need are encouraged to seek assistance from Social Service Offices while the government continues to periodically review the scheme’s parameters.
Transcript
57 Mr Zhulkarnain Abdul Rahim asked the Minister for Manpower whether the Ministry will consider greater flexibility in the criteria for the Silver Support Scheme, for seniors who exceeded the CPF savings threshold at age 55 but have since depleted much of their savings for housing and medical expenses, so that their current financial, health or employability conditions at age 65 can be more accurately reflected in the assessment.
Dr Tan See Leng: The Silver Support Scheme is targeted at seniors who had lower incomes during their working years and now have little or no family support and resources in their retirement.
The total CPF contributions (TCC) criterion refers to the total sum in the Ordinary and Special Accounts at age 55, including amounts withdrawn for housing, education and investment, and is indicative of the incomes that seniors earned during their working years.
We periodically review the Silver Support Scheme. The TCC threshold was doubled from $70,000 to $140,000 in 2021. We also raised the qualifying monthly per capita household income threshold from $1,800 to $2,300 in 2025, enabling more seniors to qualify. At the same time, quarterly payments were raised by 20% to keep pace with inflation.
Seniors facing unique situations can write in to the CPF Board to review their eligibility for Silver Support. We will review their circumstances holistically on a case-by-case basis. Seniors in need can also consider seeking financial assistance from their nearest Social Service Office.