How was the payout amount of $250/month decided for ElderFund?
ElderFund will supplement existing Government subsidies/assistance schemes, community support, and family support, to better enable lower-income Singaporeans to afford their basic long-term care needs.
As a comparison, the payout of $250/month is similar to the current level of payouts under the Interim Disability Assistance Programme for the Elderly (IDAPE).
If you are still unable to meet your long-term care needs after tapping on the various means-tested Government subsidies and assistance schemes, you can apply for financial assistance through Government-funded safety nets such as MediFund and ComCare.
This information provided here is sourced from the MOH website.
Can’t find what you’re looking for?