SINGAPORE: About S$180 million in Medisave top-ups will be disbursed to eligible seniors this year, as part of the Pioneer Generation Package, the Ministry of Finance (MOF) announced on Monday (Jun 11).
In a press release, MOF said pioneers will receive letters in the coming week, informing them of their top-ups, which will be credited in July.
Eligible pioneers will receive between S$200 and S$800, depending on the year of their birth.
This will be the fifth year pioneers are receiving Medisave top-ups, since the launch of the Pioneer Generation Package in 2014.
The Pioneer Generation Medisave top-ups are in addition to the Medisave top-ups for Singaporeans aged 65 and above in 2018, under the GST Voucher Scheme. Both of these are permanent schemes, disbursed yearly in July and August, respectively.
For example, a pioneer who is 85 this year, lives in an HDB flat and does not own a second property, will receive a total of S$1,250 in Medisave top-ups this year - S$800 from the Pioneer Generation Medisave top-up and S$450 from the GST Voucher Scheme.
Meanwhile, a pioneer who is 69 this year, and in similar circumstances as the first example, will receive a total of S$450 in Medisave top-ups this year - S$200 from the Pioneer Generation Medisave top-up and S$250 from the GST Voucher Scheme.
Pioneers may use these Medisave top-ups to pay for their MediShield Life premiums and other Medisave-approved insurance plans, hospitalisation, day surgery, and approved outpatient treatments.
The Pioneer Generation Package was launched in 2014 to honour the "special cohort" who helped make "Singapore what it is today". Those eligible have to be aged 16 years and above in 1965, and must have obtained their Singapore citizenship on or before Dec 31, 1986.