AP Seniors’ Bonus and AP MediSave incoming for about 2mn Singaporeans in Feb 2024

All Singaporeans 20 years and under, and 55 years and over will receive S$150 AP MediSave, and eligible seniors will also receive up to S$300 AP Seniors’ Bonus.

In February 2024, an estimated 850,000 lower-income senior Singaporeans aged 55 and above will have S$150 of AP Medisave banked into their CPF Medisave accounts, according to a press release by the Ministry of Finance (MOF).

The Bonus will be paid to seniors living in properties with an Annual Value (AV) of up to S$25,000, as per MOF’s previous announcement of the increment of the AV threshold to S$25,000, effective 1 January 2024, and is subject to meeting the other eligibility criteria.

Concurrently, Singaporeans aged (a) 20 and under, or (b) 55 and over will be receiving AP Medisave of S$150, credited into their CPF Medisave accounts.

This brings the estimate of Singaporeans which will benefit from the AP to 2mn, regardless of the AV of their home or their Assessable Income.

These payments are part of the suite of AP measures announced at Budget 2022, where under the AP, these groups will be eligible to receive the following:

1. Seniors will be eligible to receive the AP Seniors’ Bonus (previously known as GST Voucher – Cash (Seniors’ Bonus)) adding up to S$600 to S$900.
2. All Singaporean children and seniors will receive AP MediSave top-ups adding up to S$450.

These disbursements will be made from 2023 to 2025, and no action is required to receive these payments. Those who wish to receive their AP Seniors’ Bonus payments have been advised to link their NRIC to PayNow.

Here is a list of criteria to meet to be eligible to obtain the AP Seniors’ Bonus:

• You must be a Singapore citizen residing in Singapore;
• You must be aged 55 and above in the disbursement year;
• Your 'Income Earned' in the disbursement year (i.e., Assessable income for the year of assessment of disbursement year) must not exceed S$34,000. For example, the disbursement in 2024 is based on your assessable income for year of assessment 2022 (income earned in 2021);
• For disbursement year 2023, the AV of your home (as indicated on your NRIC) as at 31 July of the year preceding the disbursement year must not exceed S$21,000.
• For disbursement year 2024 and 2025, the AV of your home (as indicated on your NRIC) as at 31 July of the year preceding the disbursement year must not exceed S$25,000, and
• You must not own more than one property.

Modes of Payment

1. PayNow-NRIC
2. GovCash 

For an overview of the eligibility criteria, please click here

For more information on the above schemes, please visit the AP website or contact the following:

 READ MORE: U-Save and S&CC rebates for eligible HDB households in Jan 2024: What you need to know

Lead image / 123RF
Infographic / Ministry of Finance