Merdeka Generation Package Singapore — Who’s Eligible & What Top-Ups Do You Get?

Bear in mind the Pioneer Era bundle that was rolled out in Finances 2014, to a lot pleasure and debate? 5 years on, there’s lastly a sequel: The Merdeka Era bundle, introduced in 2019.

For the uninitiated, the Pioneer Era bundle is a collection of healthcare subsidies and advantages for “founding” Singaporeans born earlier than 1950, who at the moment are 70 years outdated and above. This much-needed serving to hand continues to be in impact, and it eases (considerably) the monetary burden of outdated age healthcare for seniors.

However what about those that narrowly missed the Pioneer Era window? These embrace Singaporeans now of their 60s, and older Singaporeans who didn’t qualify for the Pioneer Era bundle.

Nicely, the brand new Merdeka Era bundle extends related healthcare advantages to those 2 teams of individuals.

Merdeka Era bundle at a look

In case you have no time to learn the whole article, listed below are the important thing takeaways. (Click on on the hyperlinks to leap to the related sections, the place I’ll elaborate on the eligibility necessities and advantages.)

Who’s the Merdeka Era?

Abstract of Merdeka Era advantages:

To, uh, provide help to bear in mind all 5 Merdeka Era advantages, the federal government has thoughtfully produced a video (set to the tune of “Mambo No. 5”). I’ll cowl the advantages in the identical order they’re numbered within the advert:

https://www.youtube.com/watch?v=9jLl0yL7zsQ

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What’s the Merdeka Era Bundle? And who’s eligible?

Much like the Pioneer Era bundle, the official state rhetoric for the Merdeka Era is one greatest learn with epic orchestral music enjoying within the background:

“The Merdeka Era grew up with Singapore, labored exhausting, and laid the groundwork for generations to return. Due to their sacrifices, Singapore stands tall and proud in the present day.”

Previous glory apart, the current actuality for this era of seniors is now a battle because of the ever-increasing price of dwelling and healthcare in Singapore. The $8 billion Merdeka Era bundle is supposed to assist with that.

The Merdeka Era primarily refers to these born within the Nineteen Fifties, who at the moment are of their 60s. Eligibility necessities are:

• Your birthday falls between 1 January 1950 to 31 December 1959
• You grew to become a Singapore citizen by 31 December 1996

As well as, Merdeka Era advantages additionally apply to seniors aged 70 or older, who had been neglected of Pioneer Era because of the restrictive citizenship requirement (the PG bundle required you to have obtained citizenship by 1986).

• Your birthday falls on or earlier than 31 December 1949
• You grew to become a Singapore citizen by 31 December 1996
• You didn’t get the Pioneer Era bundle

Word that there are no revenue or asset (e.g. property) restrictions.

Should you qualify, you need to have obtained your Merdeka Era card within the mail. You’ll be able to test your eligibility right here.

By the best way, should you’re questioning what the phrase “Merdeka” means: In accordance with Wikipedia, it’s a Malay phrase that roughly interprets to “freedom” (within the “freedom from slavery” sense). This was a battle cry within the pro-independence motion, when Singapore fought to realize independence from our colonial masters.

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Merdeka Era profit #1: $100 top-up on PAssion Silver card

Like most different authorities packages (aside from the GST Voucher), you don’t get to see the advantages in precise money. This $100 top-up in your PAssion Silver card as about as shut because it will get, although.

First, a notice on the PAssion Silver card, should you don’t have one already. This can be a card that every one Singaporean residents get as soon as they hit 60 years outdated – it’s principally your senior citizen concession card. You don’t want to use or something; you’ll mechanically obtain an invitation within the mail in your birthday month.

All members of the Merdeka Era will get a one-off $100 top-up on their PAssion Silver card this 12 months.

Replace: You’ll be able to redeem your $100 at bus interchanges, MRT stations or CCs. Faucet your PAssion Card on the Add Worth Machine and you need to see a “Merdeka” possibility. Alternatively, you possibly can request the top-up on the ticketing workplace.

The PAssion Silver card isn’t an accepted fee mode at NTUC FairPrice or, cough, Singapore Swimming pools, however you should utilize the $100 worth on the next:

• Public transport: Much like an EZ-Hyperlink card, the PAssion Silver card can be utilized to take the bus or MRT to take pleasure in concessionary charges.
• Neighborhood Golf equipment: You should utilize the cardboard to pay for actions and/or amenities at CCs, e.g. badminton corridor, yoga lessons.
• ActiveSG swimming swimming pools: You may as well faucet your card on the gantry to entry public swimming swimming pools in Singapore.

The right way to get your Merdeka Era $100 prime up:

The simplest method to get your $100 top-up is to go to an Add Worth Machine on the MRT station. After you place your PAssion Silver card on the display, press the Merdeka button. Then press “Redeem All”. The transaction ought to be achieved inside 15 seconds.

Should you want extra assist, you possibly can head to Transitlink workplaces and chosen group centres. See full addresses of top-up places.

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Merdeka Era profit #2: $200/12 months Medisave top-ups (for five years)

Merdeka Era members are additionally the fortunate recipients of an additional $200 a 12 months for the subsequent 5 years – within the type of top-ups to your CPF Medisave account.

This $200 will occur each July from 2019 to 2023, and is supposed to spice up your Medisave financial savings, that are more likely to be depleted extra shortly in outdated age.

Don’t know what you should utilize the Medisave account cash for? Right here’s a fast and soiled abstract:

• Built-in Defend plan (i.e., MediShield Life boosted by personal medical health insurance) premiums
• Hospitalisation (together with acute care at public hospitals, surgical procedures, rehabilitation at group hospitals)
• Outpatient remedy for the foremost persistent situations
• Mammograms, colonoscopies and vaccinations
• Finish-of-life care (in accepted hospices or home-based palliative care)

The large catch is that CPF withdrawal limits apply for all of these items, so there’s an opportunity you’ll need to fork out the remaining out of your personal pocket.

You may as well use your Medisave cash to pay for quick members of the family, similar to your partner or youngsters. They’ll additionally use their Medisave in your wants as effectively.

For a extra complete information to utilizing Medisave, learn our information.

Word: Should you qualify for the GST Voucher – Medisave top-up, that’s separate from the Merdeka Era top-up, that means you get not one however two top-ups.

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Merdeka Era profit #3: CHAS subsidies + 25% off at polyclinics

Other than the $100 PAssion card top-up, the remainder of the Merdeka Era advantages squarely goal the rising price of healthcare in Singapore.

First, the Merdeka Era will likely be added to the Neighborhood Well being Help Scheme (CHAS), which lets lower-income Singaporeans and senior residents get subsidies at clinics. You get a particular card which you flash at collaborating clinics for subsidised charges.

As with the Pioneer Era, there are not any revenue ceiling necessities or something for Merdeka Era to take pleasure in its advantages. From 1 Nov 2019 onwards, you’ll be capable to get the next subsidies at CHAS clinics by flashing your Merdeka Era card:

* See MOH’s web site for an inventory of the 20 persistent situations recognised by the federal government. It consists of the large ones like diabetes, hypertension, dementia and so forth.

On prime of CHAS advantages, the Merdeka Era additionally will get an extra 25% off medical payments at polyclinics and public specialist outpatient clinics. These are already subsidised, so after the beneficiant reductions, you’re taking a look at dramatically extra reasonably priced medical payments.

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Merdeka Era profit #4: Additional $150/12 months low cost off CareShield Life

Proper, so the advert says “$4,000 incentive”, however I regarded on the particulars and it’s truly a reduction off your CareShield Life premiums over the course of 10 years. ($400 low cost a 12 months x 10 years = $4,000)

FYI, the federal government was already providing a reduction of $250 a 12 months earlier than Finances 2019. So truly, it really works out to be an additional $150 a 12 months.

“Wait wait… however $400 low cost off what, precisely?”

Simply to make clear: You solely get the low cost should you decide into CareShield Life, which is the nationwide incapacity insurance coverage that’s meant to defray the prices of getting a extreme incapacity sooner or later.

For Singaporeans born in 1979 or earlier, it isn’t obligatory to enroll in CareShield Life, however you possibly can decide in from 2021 to 2023.

As with all different type of insurance coverage, it’s a must to pay annual premiums from the time you choose in onwards. The annual premium is fairly costly whenever you get to outdated age – sometimes between $1,000 and $2,000. So by dangling the additional low cost, the federal government hopes to inspire extra seniors to decide into CareShield Life.

You will discover out extra about CareShield Life and calculate your estimated premiums on the MOH website.

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Merdeka Era profit #5: 5% to 10% low cost off MediShield Life

MediShield Life is the government-issued medical health insurance programme that every one Singaporeans and PRs are mechanically enrolled in.

It’s fully distinct from Medisave, in that (a) you have to pay annual premiums to get protection, and (b) should you make MediShield Life claims in your payments, you’re not restricted by the precise quantity in your Medisave.

Proper now, MediShield Life premiums are very reasonably priced, and one of the best half is you possibly can pay 100% of it utilizing Medisave. In reality, you’ve got been doing so this complete time — the premium is mechanically deducted from Medisave yearly. (Which is why chances are you’ll not even know you’ve got medical health insurance.)

However the older you get, the costlier medical health insurance premiums get.

To assist with the growing price of medical health insurance, the Merdeka Era will get 5% off the annual premium from age 60 to 75. After age 75, your low cost goes as much as 10%, which is kind of a giant deal since that’s when the premiums surpass the $1,000 mark.

This Merdeka Era low cost is on prime of the present subsidies based mostly in your revenue bracket. Once more, there’s no revenue ceiling for Merdeka advantages.

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Hmm… Is that every one the Merdeka Era will get?

Wah! Should you’re asking that, I gotta hand it to you. The Merdeka Era will get one of many fattest set of advantages this Finances 2019, however you recognize what? There’s truly extra, as a result of the federal government is (rightly) paying a variety of consideration to older Singaporeans this 12 months.

First, there’s additionally a one-off CPF top-up in 2019 of as much as $1,000 for Singaporeans aged 50 to 64 years outdated, however solely when you have lower than $60,000 in retirement financial savings in your CPF account.

This measure is supposed to assist those that haven’t managed to save lots of up sufficient of their CPF for retirement. For instance, Singaporeans who’ve been been homemakers for many of their lives, or those that left a high-paying job with a purpose to tackle caregiver tasks at dwelling. (Sure, it’s principally ladies taking over such thankless duties.)

The opposite massive factor can be this 12 months’s GST Vouchers. Sure, within the plural. On prime of the same old annual GST Voucher of as much as $300, this 12 months there’s additionally a Bicentennial Bonus voucher, additionally as much as $300.

As even a major faculty child can inform you, this implies you possibly can rise up to $600 extra in money from the gov this 12 months, relying in your revenue degree and residential worth. Huat ah!

Lastly, 2019 is the 12 months of the Merdeka Era: TONS of companies in Singapore, from NTUC FairPrice to Buffet City, at the moment are dangling reductions for these aged 60 and above.

Are you pleased with the Merdeka Era bundle? Inform us what you suppose within the feedback!