BUDGET 2025: Gov’t announces 5-year Matched MediSave Scheme for lower-income seniors

It will provide a dollar-for-dollar government grant of up to $1,000 per year.

A new five-year Matched MediSave Scheme will be introduced for eligible lower-income seniors aged 55 to 70, Finance Minister Lawrence Wong announced during his Budget speech on Tuesday.

The scheme, set to begin in 2026, will provide a dollar-for-dollar government grant of up to $1,000 per year, matching seniors’ voluntary MediSave account top-ups.

Wong said the initiative will complement the existing Matched Retirement Savings Scheme.

Additionally, the government will extend the Enhancements for Active Seniors (EASE) programme, which will now run until 2028, to support seniors living in private properties.

Wong said the EASE programme aims to create a more conducive living environment for seniors, improving accessibility and safety in their homes.

Moreover, the Homecare Giving Grant will be increased to $600 per month, up from $400, to further assist caregivers supporting seniors in their homes.

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Singapore Budget 2025

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