2 subsidies to supplement your parents’ retirement incomes

 

We want our parents to live comfortably and be free from financial constraints. With a steady income, they need not worry about going out in the workforce. In this post, we will introduce the ComCare Long-Term Assistance (Public Assistance) and Silver Support Scheme that provides allowances for the elderly to relax and enjoy their retirement years.

 

A. ComCare Long-Term Assistance (Public Assistance)

This scheme provides monthly payouts for the elderly who are unable to work permanently and have no income or support. The cash incentive can be used for daily living and medical expenses. The amount varies based on the number of people in the household and specific medical needs

 

Benefits
  • Monthly cash assistance up to $1,450 for daily living expenses
  • Free medical treatment at polyclinics and government/restructured hospitals
  • Highly subsidised or free social support services (home help, senior activity centres)
  • Cash assistance for recurring essentials, such as adult diapers and pills for diabetes
  • Additional cash assistance for one-off special needs medical devices or household appliances, such as beds and oxygen respirators
Eligibility
  • Singaporean or Permanent Resident
  • Elderly receiving a payout from CPF Minimum Sum/CPF Life, Pension, Eldershield, Lease Buyback Scheme smaller than the prevailing PA rates
  • Caregiver is supporting their own families with a low income
    • Each caregiver with monthly household income of $1,900 or less
    • Or per capita monthly household income of $650 or less
How to apply

 

B. Silver Support Scheme

The Silver Support Scheme provides a quarterly allowance to help cash-strapped retirees cope with their living expenses. All Singaporeans aged 65 and above will automatically be assessed for their eligibility.

 

Benefits
  • Receive a quarterly payout of up to $750
  • Additional payout of $300 per quarter for elderly on ComCare Long-Term Assistance Scheme
Eligibility
  • Singaporean, aged 65 and above
    • $70,000 or less in CPF contributions by age 55
  • For self-employed, aged 45 – 54
    • Average annual net trade income of $22,800 or less
  • Currently resides in a HDB flat with 5-room or smaller
  • Monthly household income per capita of $1,100 or less
How to apply

 

Want to learn about other subsidies that your parents can benefit from?

Call SilverAlly at 626-515-00

 

 Or 

 

 

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