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Budget 2016: More Monetary Help for the Elderly, Disabled, and Low-Wage Earners

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Finance Minister Heng Swee Keat announced today during Budget 2016 that more help will be given to the elderly, disabled, and low-wage earners.

Low-wage earners will benefit from changes made to the Workfare Income Supplement scheme, which was introduced in 2007 as a form of social security to reward those who work for their money by providing cash and CPF payouts.

The income ceiling for eligible low-wage earners will be increased from S$1900 to S$2000 per month.

The WIS will be paid for each month of work, and will be paid on a monthly rather than quarterly basis.

Eligible  employees  may  receive  up  to  S$3,600  per  year  in  WIS  payouts, compared to S$3,500 today.

The scheme has also been extended to low-wage earners with disabilities and below the age of 35.

The scheme is expected to cost S$770 million a year, and will benefit about 460,000 Singaporeans

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The Silver Support scheme has also been enhanced, so that the elderly (65 years old and above) will receive higher payouts.

The amount of of support they will received will be assessed annually, based on their lifetime wages, level of household support, and housing type.

The government will on its own initiative deposit the funds into the bank accounts of those eligible, or send them a cheque.

Those eligible who stay in 1-2 room flats will receive S$750 per quarter.

Those staying in 3-room flats will receive S$600 per quarter.

Four-room flat dwellers will receive S$450 per quarter.

The scheme has now been extended to those who live in, but do not own 5-room flats.

These seniors will receive S$300 per quarter.

 

 

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