Financial Support for the Elderly in Singapore: 20 Essential Assistance Schemes

20-List of Elder Financial Planning Programs

The presence of monetary assistance for seniors may go unnoticed by many eligible elderly people and caregivers, who are not taking advantage of it to their full potential. A little over fifty percent of prospective caregivers said that they require financial support or the right training to look after an aging family member, but are uninformed of the financial schemes available.

With the aid of these elder care grants offered by the Singaporean government, seniors can now take advantage of the assistance available to them to compensate for the soaring expenses of providing care and select the program that best matches their requirements.

1. Assistive Technology Fund

By offering financial assistance for the acquisition of assistive technology tools, the Assistive Technology Fund was established to promote independent living among those with disabilities. Also, they may be eligible for a subsidy of as much as 90 percent of the price of assistive technology equipment, subject to a lifetime ceiling of $40,000, based on their total family income.

Devices like wheelchairs and hearing aids can be purchased, upgraded, replaced, or repaired with ATF. Likewise, early intervention, awareness, training, treatment, rehabilitation, and flexibility in everyday living should all be addressed by the devices.

Eligibility Criteria:

• Citizen or permanent resident of Singapore
• Certified as having a permanent impairment of any one of the ones that follow: Physical, Visual, Hearing, Mental, and Autism Spectrum Disorder
• Assessed by a certified assessor to establish the necessity for any kind of equipment
• Household income per person of $2,000 or less monthly

2. Caregivers Training Grant

It may be in nature for most caregivers to worry about how we can efficiently support our ageing loved ones with the finest elder care possible. Luckily, with the help of the Caregivers Training Grant, you may better prepare oneself with the proper caregiving abilities that will help you to offer your seniors the comprehensive, holistic care. Also, you may be confident that you will make a secure and encouraging atmosphere for individuals in your care with the various courses offered. Daily caregiving management, helping an elderly folk with dementia, nursing skills, along with other effective communication skills, and self-care techniques, are some of the topics covered in these courses.

Eligibility Criteria:

• A Singaporean citizen or permanent resident
• A physician’s disability certification or a minimum age of 65 are requirements for care recipients.
• The primary caregiver for the care recipient.
• When there is a certificate of attendance, the caregiver must accomplish any of those the training programs that CTG has approved.

3. CareShield Life

A long-term care insurance program called CareShield Life was introduced on October 1, 2020, and it offers seriously handicapped people modest financial help. For as long as they continue to be seriously incapacitated and fulfill the qualifying requirements, eligible people will get a cash payment of at least $600 monthly.

Eligibility Criteria:

• Having a CareShield Life insurance

For those who were born in 1980 or after, CareShield Life coverage will begin on October 1, 2020, or when they become 30, whichever comes first.

If they are not seriously incapacitated, Singaporean Citizens or Permanent Residents born in 1979 or prior to that will be entitled to join CareShield Life as of the end of 2021.

• Incapable of carrying out a minimum of three of the 6 activities of daily living, as determined by an authorized assessor

4. Chronic Disease Management Programme

Through providing medical care easier and less expensive for Singaporeans, the Chronic Disease Management Programme, or CDMP, had been designed with the goals of raising the standard of care for people with chronic diseases and reducing healthcare expenditures. In its basic form, this was a nationwide initiative to enhance the nation’s entire approach to managing chronic illness. The CDMP also includes coverage for several chronic mental disorders in addition to chronic physical ailments.

Citizens may utilize their MediSave to cover the cost of their care and reduce the costs they incur for outpatient chronic disease expenditures. The MediSave500 program allows patients to spend up to $500 for each account annually and up to 10 accounts from their family members Medisave to pay for outpatient expenses. Continue reading to find out more about CDMP here.

5. ComCare Long-Term Assistance

ComCare Long-Term Assistance, frequently shortened to Public Assistance, provides assistance to Singaporeans who are incapable to work because of being elderly, disease, or disability and who do not have enough family members, funds, or assets on which to depend for their everyday needs.

Covered Benefits:

• Depending on the size of your home, you may get monthly financial help for living costs.
• Additional funding of up to $150 per kid each month to help with the out-of-pocket expenditures of children enrolled in school
• Assistance with school costs, other expenses, including textbooks for children of LTA beneficiaries who are enrolled in school
• Help with household expenses such as housing, utility bills, service fees, and conservancy costs
• Support on a discretionary basis for one-time expenditures of necessities like healthcare or home appliances
• Assistance in paying medical fees at government-run hospitals and polyclinics, like medical and dental care
• Access to a variety of social support services, such as home care services and Senior Activity Centers, sponsored by the government and provided by social service organizations, is either free or heavily discounted. Other neighborhood-based organizations provide further help to LTA beneficiaries in the form of money or in-kind donations.

Eligibility Criteria:

• Singaporean national or long-term resident
• Old age, disease, or handicap prevent you from working
• Older people who only get meager monthly payments from sources like Pension, CPF Life, ElderShield, and Lease Buyback Scheme, which are lower than the current LTA rates
• Elderly people whose children are unable of providing for their parents, like possessing a total income for the household of $1,900 monthly or lower, or having a per-person revenue of $650 or less.

6. ComCare Short-To-Medium-Term Assistance

The ComCare Short-to-Medium-Term Assistance program offers temporary monetary support to individuals who are no longer able to work as a result of an illness or accident, who are seeking employment for work, or who need supplemental income.

Covered Benefits:

• Monthly financial aid for daily living costs
• Help with household expenses such as housing, utilities, service fees, and conservancy costs
• Financial support for medical expenses at government-run hospitals and polyclinics
• Assistance with finding a career and training that are offered by a Career Advisor from Workforce Singapore and NTUC
• Referrals to other public entities and neighborhood stakeholders, including Family Service Centers, for casework and counseling

Eligibility Criteria:

• Eligible seniors who are Singaporean citizens or permanent residents and at least one member of their immediate family
• A lack of community and familial assistance
• Income of $1,900 or less monthly for a household, or $650 or lower per person

7. Community Health Assist Scheme

The Community Health Assist Scheme will lessen the strain by providing subsidies in response to the growing cost of medical services. The CDMP, which enables MediSave to be employed for outpatient expenses paid for the treatment, such as in medical and dental clinics and the handling 20 chronic illnesses, is supplemented by CHAS as well.

Eligibility Criteria:

All Pioneers and Singaporeans from low- to households with middle-income

Pioneers are surviving Singaporeans who fit both of the following criteria:

1. 16 years of age or older in 1965, and born prior to December 31, 1949
2. A citizen since December 31, 1986, or prior to that

8. ElderFund

On January 30, 2020, the ElderFund discretionary aid program entered into force as a financial assistance scheme for elderly Singapore. Its objective is to support severely disabled low-income individuals by providing them with a monetary grant of $250 or $150 every month for the duration of their qualification. 

Eligibility Criteria:

• Citizen of Singapore who resides in Singapore
• 30 years old or older
• $1,200 or lower monthly income per individual in the household 
• Less than $10,000 in MediSave balance
• Incapable of carrying out a minimum of three of the 6 activities of daily living, as determined by an authorized assessor
• Lacking eligibility for or receiving benefits from  ElderShield, CareShield Life or the Interim Disability Assistance Programme

9. Enhancement for Active Seniors

In the elderly population, falls are connected to higher rates of illness and death in addition to lower levels of general functioning and earlier admission to long-term care. Furthermore, with the number of elderly people living alone rising, measures must be done to make it easier for seniors to carry out their everyday duties.

For senior citizens to live in a much more secure and pleasant environment, Enhancement for Active Seniors offers financial assistance for home improvements. EASE is ready to assist you with the total expense of installing specialized equipment throughout your home to avoid falls, with the government covering up to 95% of the expense.

Eligibility Criteria:

• A member of the family 65 years of age or older must reside with the caregiver, who must be a Singapore citizen apartment owner.
• A Singapore national who owns a flat and has at least one family member between 60 – 64 years old who needs assistance with 3 of 6 ADLs.

10. ElderShield

It is generally anticipated that 50% of Singapore nationals 65 years and older who are healthy would ultimately become permanently disabled. An insurance program called ElderShield was created with the objective of giving all Singaporeans who require long-term care the fundamental and basic financial protection the seniors need and of boosting their savings in the event of a serious disability. For as many as 72 months, severely handicapped ElderShield policyholders may receive cash payments of $300 or $400 monthly.

Eligibility Criteria:

• At 40, every Singaporean will be immediately registered in ElderShield.
• Possess a MediSave account and insurance from one of the private insurance companies that the Ministry of Health selected to provide ElderShield.

Severely impaired individuals, on the other hand, will not be entitled for any claims and must submit a cancellation request when they get their welcome letter at age 40.

11. ElderShield and CareShield Life Supplement

In order to increase their coverage, current ElderShield and CareShield Life clients can purchase extras from any of the ElderShield providers. The policyholder or their relative may use up to $600 per covered person each calendar year from your MediSave account to pay the premiums, which vary based on the benefits supplied.

12. Foreign Domestic Levy Concession

The Foreign Domestic Levy Concession is included in the package to enable Singaporeans who need care if you find that you need the additional assistance of a foreign domestic worker.

Eligibility Criteria:

• The person receiving care must be a Singaporean.
• The care receiver must be 67 years or older.
• Employer of FDWs must be a Singaporean
• The care recipient and the FDW employer must reside together at the exact same NRIC-registered residence.
• The care recipient must need ongoing support with at least one ADL.

13. Home Caregiving Grant

The expense of providing care has been mentioned by caregivers as one of their top concerns. Starting part of the revised Caregiver Support Action Plan to lessen the financial burden of caring, the Home Caregiving Grant will take the role of the Foreign Domestic Worker Grant starting in October 2019.

With this subsidy, families have more freedom when using the funding to pay for elderly care and caregiver support services in the neighborhood instead of employing a foreign domestic worker. The grant provides a $250 or $400 monthly cash reimbursement that may be used to cover these expenditures.

Eligibility Criteria:

• The person receiving care must be a Singapore national or a permanent resident who has a partner, child, or parent who is a citizen of Singapore.
• The beneficiary of care must reside in Singapore.
• Monthly $2,800 or lower minimum monthly income for the family, or $13,000 or less is the minimum yearly worth of the homestead’s assets.
• The care recipient cannot be a resident of a long-term care facility.
• At least three of these six ADLs would constantly require support from the care receiver.

14. Interim Disability Assistance Programme

ElderShield failed to include seniors at the time it went into effect, but programs like the Interim Disability Assistance Scheme for the Elderly offer financial grants that may be employed to pay expenses without limiting the coverage as long as they are utilized for care for the disabled IDAPE receiver.

Covered Benefits:

• Medical expenses
• Nursing expenses
• Appointing a foreign domestic worker as a caregiver to assist the IDAPE applicant who is disabled

Eligibility Criteria:

• Monthly household earnings of less than $2600 for every person
• The IDAPE applicant must be confirmed by an official assessor as being unable to do 3 of 6 ADLs
• Born around September 30, 1932, or between October 1, 1932, and September 30, 1962, all dates inclusive, and having a pre-existing disability as of September 30, 2002
• A Singaporean citizen who resides in Singapore

15. Medical Fee Exemption Card

Despite the fact that Singaporeans get government healthcare assistance, the expense of medical care could still add up to a sizable sum. The Medical Fee Exemption Card, which is given to eligible residents of nursing homes or elderly studio apartments in Singapore, and disabled homes supported by the MSF or MOH, compensates the expense of routine medical and hospitalization treatments at public healthcare facilities as well as intermediate and long-term care facilities.

Eligibility Criteria:

• Residents of nursing homes or sheltered and handicapped homes sponsored by the MSF who are also Singapore nationals or permanent residents
• Monthly household income of $700 or lower per person
• $6,000 or below in personal savings

16. MediSave Care

Beginning in October 2020, individuals with severe disabilities and their spouses may be reimbursed monthly up to $200 in cash from their MediSave accounts to pay for long-term care expenses. The existing MediSave balance at the time of withdrawal determines how much money you may remove from your account. Also, there is a minimum of $5,000 will be allocated to the patient’s MediSave account for additional medical costs, including MediShield Life premiums, even with hospital stays. But those who don’t have enough money to withdraw can utilize their spouse’s MediSave.

Eligibility Criteria:

• Must be a permanent resident or a citizen of Singapore.
• Age 30 and older
• Possess a minimum $5,000 balance in your MediSave account.
• Incapable of carrying out a minimum of three of the 6 activities of daily living, as determined by an authorized assessor

17. Pioneer Generation Disability Assistance Scheme

Pioneers with intermediate to severe functional handicaps will receive a $100 monthly payment starting in 2014 as a component of the Pioneer Generation Package to help with their long-term healthcare expenditures.

Eligibility Criteria:

• Born prior to 1950 and acquired Singaporean citizenship prior to 1987
• Incapable of carrying out a minimum of three of the 6 activities of daily living, as determined by an authorized assessor

18. Silver Housing Bonus

The Silver Housing Bonus, generally encourages older citizens in Singapore to reduce their residence and use the revenues to fund their CPF Retirement Account in exchange for a cash incentive of up to $30,000. The net revenues and household owners’ CPF Retirement Account contributions determine how much of the Silver Housing Bonus they would get.

The maximum SHB is $30,000 for those who spend their net earnings to top off their CPF RA by approximately $60,000. However, those who add less than $60,000 to other accounts will only receive $1 for every $2 they put into their accounts.

Eligibility Criteria:

• Singaporean citizens who own their homes
• 55 years or older
• Applicants must have a gross monthly family income of $14,000 or lower

19. Seniors’ Mobility and Enabling Fund

Seniors’ Mobility and Enabling Fund will work well if an ageing family member is 60 years of age or older and needs assistance from assistive equipment to be independent and functionally active.

The SMF has been increased to include a larger variety of medical equipment and healthcare at home supplies including milk feeds and bandages for those who have been receiving care from a live in caregiver or in nursing facilities.

Eligibility Criteria:

• Singaporeans who are 60 or older
• Pass the MOH-required mean test
• Household monthly income amounting to $1,800 or less for each individual, or for families without income, the annual worth of the home as shown on NRIC of less than $13,000.
• Must be evaluated by a certified assessor on the necessary devices or medical supplies

20. Silver Support Scheme

In general, this program offers quarterly cash payments to elderly folks who have had modest incomes throughout their lives and who now get little or no help from their families. For the poorest 20% of elders who had minimal income throughout their lives and now have barely any family assistance, the Scheme offers payments of $300 to $750 every three months, depending on the kind of HDB unit they reside in. The program automatically includes eligible seniors.

Eligibility Criteria:

• Singaporeans who are 65 or older
• Not exceed $70,000 in total CPF contributions at 55 years old
• Additionally, self-employed individuals between 45 – 54 years old should have an average yearly net trade income not exceeding $22,800.
• Resides in a 1- to 5-room HDB apartment, don’t own a 5-room or bigger HDB apartment, a private property, or numerous properties, or have a partner who does;
• Reside in a home where the monthly income for each Singapore citizens is no higher than $1,100.

Indeed, providing long-term care has an influence on both the caregiver and the care recipient along with the caregiver’s circle of relatives and the greater community. Having said that, it is our sincere wish that this post will help you better understand the resources available to your senior folks so that they can be supported along the way.