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Why is the threshold for total CPF contributions set at $140,000 to be eligible for the Silver Support Scheme?
An eligibility criterion of $140,000 set for the Silver Support Scheme would include seniors who were earning lower wages through their working lives, and those who did not work due to reasons such as care-giving responsibilities and medical conditions.
The total CPF contributions threshold was increased from $70,000 to $140,000 in 2021 to strengthen support for seniors with lesser means. The Government will review the criteria from time to time, to ensure that the Silver Support Scheme is targeted at seniors with less means, while ensuring the scheme remains fiscally sustainable.
The total CPF contributions threshold was increased from $70,000 to $140,000 in 2021 to strengthen support for seniors with lesser means. The Government will review the criteria from time to time, to ensure that the Silver Support Scheme is targeted at seniors with less means, while ensuring the scheme remains fiscally sustainable.
This information is sourced from CPF.
Related questions
How much Silver Support will I receive?
How can I check how much total CPF contributions I have at age 55 for assessing my eligibility for the Silver Support Scheme?
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Why are my total CPF contributions used as a reflection of my lifetime wages in the assessment of eligibility of the Silver Support Scheme?
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