How was the payout amount of $250/month decided for ElderFund?

Question

Accepted Answer

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.

How was the payout amount of $250/month decided for ElderFund?

Topics:

Related questions

What is ElderFund?

Will the ElderFund payouts rise over time, like CareShield Life payouts?

If I do not have enough MediSave balance, but am able to draw from my spouse's MediSave for MediSave Care, can I still qualify for ElderFund?

What if I have developed mild/moderate disability– what help is available for my long term care costs?

Need more help?