CPF savings transfer to parents and grandparents

Cur­rently, CPF mem­bers can only trans­fer sav­ings from their CPF accounts to their par­ents or grand­par­ents after set­ting aside the full retire­ment sum. How­ever, mem­bers can soon do the trans­fer after set­ting aside the basic retire­ment sum if they have prop­erty pledges or charges to meet the full retire­ment sum, after the CPF Amend­ment Bill is passed in par­lia­ment soon.

Note that for those turn­ing 55 in 2017, the full retire­ment sum is S$166,000, so the basic retire­ment sum is half at S$83,000.

New Retirement Plan, RevoRetire, with Disability Care Benefit from NTUC Income

NTUC Income has just launched a new retire­ment plan, RevoRe­tire, together with first-in-the-market cov­er­age for Dis­ab­il­ity Care Bene­fit that doubles your monthly cash bene­fit pay­out dur­ing your retirement!

RevoRe­tire is a reg­u­lar premium par­ti­cip­at­ing endow­ment plan that allows you to start sav­ings reg­u­larly now for your planned retire­ment in 10/15 years’ time or at age 50, 55, 60 or 65 Last Birth Date (LBD). And you will get the reg­u­lar retire­ment pay­out for the next 10, 20 or 30 years. RevoRe­tire is guar­an­teed accept­ance without the hassle of med­ical check-up. You will also enjoy free death pro­tec­tion of 105% premium paid-to-date plus 100% of the ter­minal bonuses! If it is acci­dental death before age 70, an addi­tional 105% of the premium paid-to-date on top of the death bene­fit will be paid out too. You are eli­gible to apply if you are 65 years old and below.

New bene­fit, Dis­ab­il­ity Care Bene­fit, is intro­duced in this plan. It cov­ers Loss of use of one limb, Loss of sight of one eye, Loss of speech, Loss of hearing.

RevoRe­tire is divided into 2 phases, i.e. Accu­mu­la­tion Period and a Pay­out Period.

  • Accu­mu­la­tion Period = 10 or 15 years or the chosen Retire­ment Age (up to age 50/55/60/65 LBD)
  • Pay­out Period = choice of 10, 20 or 30 years

Dur­ing the Accu­mu­la­tion Period, you can choose to pay for 5 years, 10 years or pay reg­u­larly dur­ing the Accu­mu­la­tion Period minus five years. So if the Accu­mu­la­tion Period is 25 years, you just need to pay for 20 years and start get­ting the reg­u­lar pay­out from the 25th year onwards. If there is a claim on Dis­ab­il­ity Care Bene­fit, this plan will pay a lump sum of six times the monthly cash bene­fit. All future premium will be waived.

Dur­ing Pay­out Period when you are receiv­ing the monthly income (guar­an­teed cash bene­fit plus non-guaranteed cash bonus), you can still choose to

  • Deposit the monthly income with NTUC Income at the cur­rent 3.5% p.a.. This is a deposit account and you can with­draw any­time if you need to.
  • Receive it as your monthly retire­ment income.

If there is a claim on Dis­ab­il­ity Care Bene­fit, this plan will pay an addi­tional one month of the cash bene­fit, on top of the monthly cash bene­fit that is paid out dur­ing the whole pay­out period. The max­imum addi­tional cash bene­fit pay­able for this Dis­ab­il­ity Care Bene­fit is capped at $3,000.

GST Vouchers, Medisave top-ups, U-Save and S&CC rebate in 2017

1.57 mil­lion eli­gible Singa­por­eans will receive the GST Vouch­ers and Medis­ave Top-up start­ing from July 2017. They can login to www.gstvoucher.gov.sg to view the actual cash and medis­ave amount and also to update the pay­ment mode with their Singpass.

For GST vouch­ers, about 1.37 mil­lion will receive up to $500 cash, up to $300 in August and up to $200 in Novem­ber 2017.

For Medis­ave top-up, about 450,000 Singa­por­eans aged 65 years and above will receive up to $450 in August 2017.

In addi­tion, about 520,000 Singa­por­eans who are born on or before 31 Decem­ber 1959 (58 years and above in 2017) and do not receive Pion­eer Gen­er­a­tion bene­fits will receive a Medis­ave top-up of up to $200 in August 2017 and 2018. Pion­eers, mean­while, will receive addi­tional MediS­ave top-up of $200-$800 in July 2017.

Do note that those in the 21 to 55 age group with mobile num­bers updated with Sing­Pass will only receive SMS noti­fic­a­tions (without hard­copy let­ters). Those aged 56 and above with mobile num­bers updated with Sing­Pass will receive both SMSes and noti­fic­a­tion let­ters. You can opt for SMS noti­fic­a­tions in future, by updat­ing their mobile num­bers with Sing­Pass at www.singpass.gov.sg.


House­hold Benefits

U-Save is given every 3 months to help off­set util­it­ies bills dir­ectly. From July 2017, a per­man­ent increase of $40-$120 will be given to about 880,000 eli­gible Singa­por­ean HDB house­holds. These house­holds will also be given one-off 1.5 to 3.5 months of Ser­vice and Con­servancy rebate in 2017, depend­ing on their HDB flat type.


Source : http://www.mof.gov.sg/news-reader/articleid/1834/parentid/59/year/2017?category=Press%20Release

NTUC Income “Towards a Better Future” Regular Premium Promotion

NTUC Income has launched TOWARDS A BETTER FUTURE pro­mo­tion from 13 Feb­ru­ary 2017 to 31 March 2017.

Cus­tom­ers who suc­cess­fully sub­mit their new applic­a­tion for Reg­u­lar Premium Life Policies includ­ing any applic­able rider(s) between 13 Feb­ru­ary to 31 March 2017 (inclus­ive of both dates), and their policies issued not later than 31 May 2017, will be entitled to a gift as set out in the rel­ev­ant tiers below.

Min­imum monthly premium Premium pay­ment term of 10 years and above Premium pay­ment term of 5 to 9 years
$1,800 Cap­ita­Voucher




$1,200 Cap­ita­Voucher




$600 Cap­ita­Voucher




$400 Cap­ita­Voucher




The qual­i­fy­ing policies are as follows:

  6. VIVOCARE 100
  9. VIVOLIFE 125/180/350
  18. ITERM
  22. LADY 360


Terms and Con­di­tions 

  1. Qual­i­fy­ing policies for this Pro­mo­tion are Reg­u­lar Premium Life Policies includ­ing any applic­able rider(s) (the “Qual­i­fy­ing Policies”).
  2. Applic­a­tions for the Qual­i­fy­ing Policies must be sub­mit­ted and received by Income from 13 Feb­ru­ary to 31 March 2017 (inclus­ive of both dates) (the “Pro­mo­tion Period”) and, if the applic­a­tions are approved, the policies must be issued not later than 31 May 2017 for the cus­tomer to be eli­gible for the Promotion.
  3. A cus­tomer who suc­cess­fully signs up for a Qual­i­fy­ing Policy will be entitled to the cor­res­pond­ing Cap­ita­Vouch­ers (“Vouch­ers”) as set out in the table above.
  4. Adding together premium amounts from mul­tiple policies, or divid­ing the premium amount inten­ded for a single policy into premium amounts for mul­tiple policies under the same plan type, to qual­ify for the Vouch­ers is not allowed.
  5. Cus­tom­ers are entitled to receive the Vouch­ers only once, upon the issu­ance of the rel­ev­ant policies. Sub­sequent increase in sum assured or premi­ums, top-ups or applic­a­tions for riders, even if made dur­ing the Pro­mo­tion Period, for such policies will not entitle the cus­tom­ers to any addi­tional Vouch­ers. For avoid­ance of doubt, cus­tom­ers with any Reg­u­lar Premium Life Policies includ­ing any rider(s) issued, whether before or dur­ing the Pro­mo­tion Period and whether with any Vouch­ers enti­tle­ment, who sub­sequently increase their sum assured or premium, top-ups or apply for riders dur­ing the Pro­mo­tion Period will not be entitled to any Vouch­ers under this Promotion.
  6. At least 1 month’s premium for the Qual­i­fy­ing Policies must be paid upfront and received by Income dur­ing the Pro­mo­tion Period for a cus­tomer to be eli­gible for this Promotion.
  7. Income reserves the right to demand from the cus­tomer the full value of the Vouch­ers for Qual­i­fy­ing Policies which are issued but ter­min­ated or lapsed within 6 months from the policy issue date by the cus­tomer, and the cus­tomer shall imme­di­ately pay Income such amount deman­ded. The full value refers to the stated worth price or the face value of the Vouchers.
  8. Income will issue a redemp­tion let­ter for the Vouch­ers to eli­gible cus­tom­ers 1 month after the policy issue date, provided that the policy is inforce as of that date. The redemp­tion let­ter will be mailed to cus­tom­ers at their address registered with Income. The cus­tomer must bring along the redemp­tion let­ter for the Redemp­tion of the Vouch­ers and the Vouch­ers must be col­lec­ted within the redemp­tion period spe­cified in the redemp­tion let­ter. Fail­ing which, the cus­tomer shall be deemed to have for­feited his/her right to the Voucher and no com­pens­a­tion will be given or paid in lieu.
  9. The Vouch­ers are not exchange­able for cash or any benefits-in-kind.
  10. Income reserves the right to replace the Vouch­ers with items of sim­ilar value or change the terms and con­di­tions for this Pro­mo­tion at any time without prior notice to the customer.
  11. This Pro­mo­tion does not affect or change any term of the policy con­tract for the Qual­i­fy­ing Policies and is not valid in con­junc­tion with other incent­ives and pro­mo­tions offered by Income.
  12. Income’s decision on all mat­ters relat­ing to this Pro­mo­tion (includ­ing the issu­ance of the vouch­ers) shall be final, con­clus­ive and bind­ing. No appeal will be entertained.
  13. Under no cir­cum­stance shall Income be liable to any cus­tomer or party, whether in con­tract or tort (includ­ing neg­li­gence) or oth­er­wise, for any liab­il­it­ies, losses and dam­ages, claims, costs and expenses (includ­ing any spe­cial or con­sequen­tial dam­ages or losses) in con­nec­tion with, related to or res­ult­ing from this Pro­mo­tion and/or use of the Vouchers.
  14. Usage of the Vouch­ers is sub­ject to terms and con­di­tions imposed by the merchant.
  15. Income is not the man­u­fac­turer or mer­chant of the Vouch­ers or any Replace­ment Item, and provides no war­ranty in respect of it. Income shall not be respons­ible for all war­ranties, expressed or implied, includ­ing implied war­ranties of mer­chant­ab­il­ity, and fit­ness for a par­tic­u­lar pur­pose and against infringe­ment of intel­lec­tual prop­erty rights in respect of the Vouch­ers or any Replace­ment Item.
  16. No joint ven­ture, spon­sor­ship, tie up, agency or any other rela­tion­ship is inten­ded or cre­ated between Income and mer­chants or man­u­fac­tur­ers of the Vouch­ers or replace­ment items. Neither is this Pro­mo­tion inten­ded or deemed to be a con­nec­tion with or use of the brand name of mer­chants or replace­ment item(s).

The pre­cise terms, con­di­tions and exclu­sions of these plans are spe­cified in their respect­ive policy con­tract. All our products are developed to bene­fit our cus­tom­ers but not all may be suit­able for your spe­cific needs. If you are unsure if this plan is suit­able for you, we strongly encour­age you to speak to a qual­i­fied insur­ance adviser. Oth­er­wise, you may end up buy­ing a plan that does not meet your expect­a­tions or needs. As a res­ult, you may not be able to afford the premi­ums or get the insur­ance pro­tec­tion you want. Buy­ing a life insur­ance plan is a long-term com­mit­ment on your part. If you can­cel your plan pre­ma­turely, the cash value you receive can be sub­stan­tially less than the premi­ums you have paid for the plan.

Inform­a­tion is cor­rect as of 13 Feb­ru­ary 2017

New insurance plans for ladies and pregnant women

NTUC Income has just launched another 2 plans spe­cially designed for the women.

Lady 360 provides cov­er­age for spe­cific female ill­nesses, and sur­ger­ies as well as post dia­gnosis sup­port and bien­nial health screening.

Mater­nity 360 is spe­cific­ally designed to provide cov­er­age for an expect­ant mother between 13 weeks to 35 weeks of preg­nancy who suf­fers from preg­nancy com­plic­a­tions, is hos­pit­al­ized due to child­birth com­plic­a­tions or dies.  Her child is covered if dia­gnosed with con­gen­ital ill­nesses, admit­ted to an intens­ive care unit or high depend­ency unit of a hos­pital or dies.

Lady 360

Lady 360 is a non-participating, reg­u­lar premium plan spe­cific­ally designed to meet the pro­tec­tion needs of women who are from 15 to 59 years old. It provides cov­er­age for death, spe­cific female ill­nesses, and sur­ger­ies as well as post dia­gnosis sup­port and bien­nial health screen­ing for the insured up to age 64 years old. The min­imum sum assured is $25,000 and the max­imum is $100,000, and it can be increased in mul­tiples of $1,000.

The bene­fits include:-

  • Female Ill­nesses Benefit

100% Sum Assured – Chronic autoim­mune hep­at­itis; Malig­nant can­cer of female sites; Rheum­at­oid arth­ritis; SLE with lupus nephritis.

50% Sum Assured – Car­cinoma in situ of female sites; Osteo­porotic frac­tures of the hip and ver­tebra requir­ing sur­gery or repair.

  • Waiver of premium Bene­fit – Upon suc­cess­ful claim of Female Ill­nesses Bene­fit, premium will be waived for 24 months or till end of policy term, whichever is earlier.
  • Female Sur­ger­ies Benefits

50% of Sum Assured – Rad­ical vul­vec­tomy; Wertheim’s oper­a­tion; Uterus, total pel­vic exenteration

30% of Sum Assured – Breast lumpec­tomy – bilat­eral; Mastec­tomy – bilat­eral or uni­lat­eral; Hys­ter­ec­tomy; Com­plic­ated repair of fistula

15% of Sum Assured – Breast lumpec­tomy – uni­lat­eral; Urin­ary incon­tin­ence requir­ing sur­gery; Uter­ine pro­lapse requir­ing sur­gery; Thyroid dis­orders requir­ing sur­gery; Poly­cystic ovarian syn­drome requir­ing surgery.

  • Sup­port Bene­fit

100% Sum Assured –Recon­struct­ive sur­gery due to mastec­tomy fal­low­ing breast can­cer or car­cinoma in situ of the breast, malig­nant skin can­cer, acci­dental burns and accident.

25% Sum Assured – Oocyte cryo­p­reser­va­tion benefit

15% of Sum Assured – Molecu­lar gene expres­sion pro­fil­ing test for treat­ment guid­ance for breast cancer

5% Sum Assured – Out­pa­tient psy­chi­at­ric and hor­mone replace­ment therapy.

  • Care Bene­fit – Bien­nial Health Screen­ing and Lady 360 treats
  • Death Bene­fit - $10,000

Mater­nity 360

Mater­nity 360 is a 3-year non-participating, single premium plan spe­cific­ally designed to provide cov­er­age for an expect­ant mother and her child. The mother has to be from 17 to 44 years old and between the 13 weeks to 35 weeks of preg­nancy. Mater­nity 360 provides cov­er­age for the insured mother if she suf­fers from preg­nancy com­plic­a­tions, is hos­pit­al­ised due to child­birth com­plic­a­tions or dies. It also provides cov­er­age for the insured child if the insured child is dia­gnosed with con­gen­ital ill­nesses, admit­ted to an intens­ive care unit or high depend­ency unit of a hos­pital or dies. The Sum Assured (S.A.) is between $5,000 and $10,000 and can increase in mul­tiple of $1,000.

Mother’s Bene­fit Table

Preg­nancy Com­plic­a­tion Bene­fits – Abrup­tio pla­centae; Acute fatty liver of preg­nancy; Amni­otic fluid embol­ism; Chori­ocar­cinoma and malig­nant hydatidi­form mole; Dis­sem­in­ated intravas­cu­lar coagu­la­tion; Ectopic preg­nancy; Pla­centa increta or per­creta; Post­partum haem­or­rhage requir­ing hys­ter­ec­tomy; Pre-eclampsia or eclamp­sia Still birth.

Hos­pital Cash Bene­fit - Inpa­tient psy­chi­at­ric treat­ment; Post-natal anaemia; Puer­peral pyr­exia; Pul­mon­ary embol­ism; Repair of 4th degree per­neal tear; Sep­tic pel­vic throm­bophle­bitis; Sur­gical site infec­tion or trans­fu­sion due to retained pla­centa fol­low­ing child­birth. 1% of Sum Assured per each day of hos­pital stay, up to 30% of S.A..

Death Bene­fit – 100% of Sum Assured will be payable.


Child’s Bene­fit Table

Con­gen­ital Ill­nesses Bene­fits – Absence of two limbs; Anal atresia; Atrial septal defect; Bil­i­ary atresia; Cereb­ral palsy; Cleft lip and cleft pal­ate; Club foot; Con­gen­ital blind­ness; Con­gen­ital catar­act; Con­gen­ital deaf­ness; Con­gen­ital dia­phrag­matic her­nia; Con­gen­ital hyper­trophic pyloric sten­osis; Devel­op­ment dys­plasia of the hip; Down’s syn­drome; Infant­ile hydro­ceph­alus; Pat­ent duc­tus arteriosus; Ret­ino­pathy of pre­ma­tur­ity; Spina bifida; Tet­ra­logy of fal­lot; Trancheo-esophageal fis­tula or eso­pha­geal atresia; Trans­pos­i­tion of the great ves­sels; Trun­cus arteriosus; Ventricu­lar septal defect.

Hos­pital Cash Bene­fit – Bron­chitis; Dengue haem­or­rhagic fever; Hand, foot and mouth dis­ease; Incub­a­tion imme­di­ately after birth for more than 3 con­sec­ut­ive days; Pho­to­ther­apy or bold trans­fu­sion for severe neonatal jaun­dice; Pneu­mo­nia; Pre­ma­ture Birth. 1% of S.A. for each day of hos­pital stay, up to 30% of S.A..

Out­pa­tient Pho­to­ther­apy Bene­fit – Pho­to­ther­apy treat­ment due to severe neonatal jaun­dice. 1% of S.A. for each day of hos­pital stay, up to 30% of S.A..

Sim­pli­fied Applic­a­tion Bene­fit – Child can buy a new policy based on sim­pli­fied health declar­a­tion within 60 days after birth. Max­imum S.A. is $150,000 and cur­rent eli­gible plans are Vivo­life, Viv­alink, Revosave, VivoChild.

Death Bene­fit – 100% of Sum Assured will be payable.

New Senior Disease Insurance Plan, Silver Secure, from NTUC Income

NTUC Income has just timely launched a new insur­ance plan, Sil­ver Secure, to provide monthly pay­out till 100 years old when insured is dia­gnosed with any of the 8 defined senior dis­eases that are likely to plague the Singa­pore aging pop­u­la­tion in 2030 when we will have 1 in 4 Singa­por­eans aged 65 and above.

Sil­ver Secure is a non-participating, reg­u­lar premium plan that provides monthly pay­out till 100 years old for insured who are 40 to 74 years old and dia­gnosed with senior dis­eases. The bene­fits include:-

  • Senior Dis­ease Bene­fit – Inter­me­di­ate stage Alzheimer’s dis­ease or demen­tia; Inter­me­di­ate stage Parkinson’s dis­ease; Severe chronic obstruct­ive pul­mon­ary dis­ease (COPD); Amyotrophic lat­eral scler­osis; Blind­ness (loss of sight); Kid­ney fail­ure; Major head trauma; Para­lysis (loss of use of limbs).
  • Sup­port Bene­fit – Upon suc­cess­ful claim of Senior Dis­ease Bene­fit, a lump sum amount equal to six time of the monthly bene­fit will be pay­able. This bene­fit can be claimed once only.
  • Premium Waiver Bene­fit — Upon suc­cess­ful claim of Senior Dis­ease Bene­fit, premium will be waived until the policy ends.
  • Spe­cial Bene­fit – Upon dia­gnosis of the insured with any of the con­di­tions covered under the Spe­cial Bene­fit dur­ing the term of the policy, a lump sum equal to 3 times the monthly bene­fits will be pay­able (cap at $6,000). This bene­fit can be claimed once only.
  • Care Bene­fit – Sil­ver Secure provides insured with care bene­fits through a list of pre­ferred health­care pro­viders such as 10% off Home Care ser­vices from NTUC Health, 12% off Long Term Home Care Pack­ages from Tet­suyu Homecare.
  • Death Bene­fit – 100% of total premium will be refun­ded if death occurs within one year, oth­er­wise, $10,000 will be payable.

Con­di­tions covered under the Spe­cial Bene­fit are:

Move­ment – Osteoarth­ritis requir­ing sur­gery; Osteo­porosis with frac­tures requir­ing sur­gery; Rheum­at­oid arth­ritis with joint deformity.

Sens­ory — Age-related mac­u­lar degen­er­a­tion with visual impair­ment; Glauc­oma requir­ing sur­gery; Severe pres­by­cusis (age-related hear­ing loss)

Urin­ary dis­orders – Benign pro­static hyper­plasia requir­ing sur­gery; Stress urin­ary incon­tin­ence requir­ing sur­gery or procedure

Other dis­orders – Varicose veins requir­ing sur­gery; Severe obstruct­ive requir­ing sur­gery; Out­pa­tient psy­chi­at­ric con­di­tion due to loss of spouse or child.

The min­imum monthly bene­fit is $500, up to $10,000 per life, in mul­tiples of $100.

NTUC Income New Asian Bond Fund with monthly payout features

NTUC Income has launched a new fund, Asian Bond Fund that intends to dis­trib­ute monthly dividend pay­out of 4.5%-5.5% per annum.

The Asian Bond Fund aims to provide a medium to long-term rate of return by invest­ing mainly in Asian Fixed Income Secur­it­ies. The sub-fund is inves­ted in the Black­Rock Global Funds– Asian Tiger Bond Fund A6 SGD Hedged Share Class (the under­ly­ing fund).

The under­ly­ing fund will invest at least 70% of its total assets in the fixed income trans­fer­able secur­it­ies of issuers dom­i­ciled in, or exer­cising the pre­dom­in­ant part of their eco­nomic activ­ity in, Asian Tiger coun­tries (i.e. South Korea, the People’s Repub­lic of China, Taiwan, Hong Kong, the Phil­ip­pines, Thai­l­and, Malay­sia, Singa­pore, Viet­nam, Cam­bodia, Laos, Myan­mar, Indone­sia, Macau, India and Pakistan). The under­ly­ing fund may also invest in the full spec­trum of avail­able secur­it­ies, includ­ing non-investment grade. It may use fin­an­cial deriv­at­ive instru­ments for effi­cient port­fo­lio man­age­ment or to hedge mar­ket, interest rate and cur­rency risk.

The sub-fund offers a monthly pay­out fea­ture and intends to provide a monthly dis­tri­bu­tion with effect from 27 May 2016. The Man­ager intends to pay the dis­tri­bu­tion within 45 days from the declar­a­tion date. The declar­a­tion date is set on the 3rd last busi­ness day of every month. The declar­a­tion date is sub­ject to review and the Man­ager has the sole dis­cre­tion to determ­ine the rate and fre­quency of the dis­tri­bu­tion. Dis­tri­bu­tions are not guar­an­teed and can be made out of income, cap­ital gains, and/or cap­ital of the sub-fund.

More import­antly, NTUC Income will guar­an­tee 105% of the invest­ment amount or cash value, whichever is higher, in the event of untimely death or Total Per­man­ent Dis­ab­il­ity (TPD before age 70) before age 65. After age 65, it is 100% of the invest­ment amount or cash value, whichever is higher, in the event of untimely death. This is on top of the monthly with­drawal of the dividends over the years.

The min­imum single premium to invest is $10,000.

Fund Man­ager: NTUC Income

Sub-Investment Man­ager: Black­Rock (Lux­em­bourg) S.A.

Ini­tial Sales Charge: 3% (For single premium and top-up)

Annual Man­age­ment Fee: 1% p.a.

Annual Policy Fee from 2nd year onwards: $50, waive if invest­ment amount is $25,000 and above.

For example, below is the hypo­thet­ical illus­tra­tion of how the dividend will be calculated.

Invest­ment $100,000
Offer Price $1
Num­ber of units $100,000/$1 = 100,000
Dividend Rate $0.004053 per unit
Dividend pay­able 100,000*0.004053 = $405.30

Sub­scrip­tion Method: Cash/SRS

Asian Bond Fund Factsheet is here at http://www.income.com.sg/fund/pdf/2016/asianbond(may).pdf

Asian Bond Fund Product High­light Sheet is here at http://www.income.com.sg/fund/phs/2016/asianbond(dec).pdf

1.54m Singaporeans to get GST Vouchers and other Budget Benefits

About 1.54 mil­lion Singa­por­eans will receive let­ters from Min­istry of Fin­ance inform­ing them of their eli­gib­il­ity for GST vouch­ers and other budget bene­fits by 1 July 2016.

For indi­vidual Singa­por­ean aged 21 and above whose assess­able income for Year of Assess­ment 2015 is less than $26,000 and who does not own more than one prop­erty, you will get $500 on 1 August 2016 if the annual value if home is $13,000 and below; or $250 if the annual value of home is from $13,001 to $21,000.

For Pion­eer Singa­por­ean, they will also get up to $800 top-up per year to their medis­ave based on the cri­teria below.

Pion­eer Gen­er­a­tion Medis­ave Top-up
Born in Age in 2016 Amount of Medis­ave top-up per year
1945 — 1949 67 — 71 $200
1940 — 1944 72 — 76 $400
1935 – 1939 77 — 81 $600
1934 or earlier >= 82 $800


For Non-Pioneers, they will also get up to $200 top-up per year to their medis­ave till 2018 based on the cri­teria below.

5-Year Medis­ave Top-up (2014 – 2018)
Annual Value of Home as at 21 Dec 2015 Up to $13,000 Above $13,000 or owns more than property
Singa­pore Cit­izens born in 1959 and earlier who are not Pioneers $200/year $100/year
One-off addi­tional medis­ave top-up for those age 65 and above in 2016 and who does not own more than one property. For those age 65 to 74, to get addi­tional $250.


For those age 75 to 84, to get addi­tional $350.


For those age 85 and above, to get addi­tional $450.


For those age 65 to 74, to get addi­tional $150.


For those age 75 to 84, to get addi­tional $250.


For those age 85 and above, to get addi­tional $350.



For house­holds stay­ing in HDB flats, gov­ern­ment will give up to $260 deduc­tion in util­it­ies bills in equal instal­ments over 4 months in July 2016, Octo­ber 2016, Janu­ary 2017 and April 2017. Each house­hold will also get up to 3 months of S&CC rebate.


House­hold bene­fits for 2016
Flat Type 1 And 2-Room 3-Room 4-Room 5-Room Executive/Mulit-Generation
GSTV – U-Save $260 $240 $220 $200 $180
S&CC rebate (months) 3 2 2 1.5 1

Ref­er­ence : https://www.gstvoucher.gov.sg

New Personal Accident insurance for riding bicycle and personal mobility device

NTUC Income has just launched a new insur­ance plan, Per­sonal Mobil­ity Guard, to cover acci­dental death or per­man­ent dis­ab­il­ity, med­ical expenses and per­sonal liab­il­it­ies due to acci­dents while rid­ing a bicycle or a per­sonal mobil­ity device.

The table of bene­fits are as follows:

Bene­fit Sum Insured
Per­sonal acci­dent (per policy year) $200,000
Med­ical Expenses for injury due to an acci­dent (Per accident) $2,500 (Excess : $100 per accident)
Per­sonal Liab­il­ity (per policy year) $1,000,000

The yearly premium is $96, inclus­ive of GST. You will enjoy 30% off if you sign up before 30 June 2016.

Source : http://www.income.com.sg/insurance/home-lifestyle-insurance/personal-mobility-guard