Over 570,000 S’poreans to receive first Earn and Save Bonus in March

The Earn and Save Bonus will be automatically credited to citizens’ CPF accounts.

Over 570,000 eligible Singaporeans will receive the first payment of the annual Earn and Save Bonus, of $400 to $1,000, in March 2025, under the Majulah Package. 

The Earn and Save Bonus will be automatically credited to citizens’ CPF accounts.

To provide Singaporeans born in 1973 or earlier, particularly those born between 1960 and 1973, the government launched the $9b Majulah Package in 2024 under the Forward Singapore Exercise to enhance their retirement savings.

To help boost the retirement savings of seniors who are working, Singaporeans born in 1973 or earlier will receive the annual Earn and Save Bonus if they meet the following criteria: work and have an average monthly income of $500 to $6,000 in the preceding year of assessment; live in a property with an annual value of $31,000 and below; and own not more than one property.

Eligible recipients will be notified via SMS in April 2025 after the Earn and Save Bonus has been credited to their CPF accounts. Recipients without a Singpass-registered mobile number will be notified through a letter sent to the address on their Singapore Identity Card.

To safeguard against scams, only the SMS notification sent from “gov.sg” will inform citizens of their benefits.

Citizens will not be asked to reply to the SMS, click any links, or provide any information to the sender. No messages regarding the payment will be sent through WhatsApp or other mobile messaging platforms.

Under the Majulah Package, about 1.6 million Singaporeans born in 1973 or earlier received the MediSave Bonus in December 2024, and about 800,000 eligible Singaporeans from the same age group received a one-time Retirement Savings Bonus in their CPF.

Collectively, these benefits from the government will help Singaporeans build up their savings for retirement and healthcare.