MOF to consider ‘age-based only’ in criteria of Majulah Package

Currently, the package only benefits seniors with lower incomes and less wealth.

The government is looking into suggestions to amend the eligibility of the Majulah Package by including age-only criteria.

Senior Minister of State for Finance Chee Hong Tat said the current key segments are providing support for young seniors aged 50 to early 60.

“They have benefitted from Singapore’s economic growth and our investments in education, healthcare, and social security. Hence, we have designed the Majulah Package to provide more support to those with lower incomes and less wealth,” said Chee.

However, the parliament suggested that the criteria be amended to apply sole age-based qualifications in the package, which aims to boost the retirement and healthcare adequacy of Singapore seniors.

In response to these suggestions, Chee recognised that there may be some concerns for this age group, adding that they will consider the suggestions while finalising the criteria.

The Majulah Package will be declared in Budget 2024.