Singapore, March 20 -- More than 570,000 eligible Singaporeans will receive payouts ranging from 400 to 1,000 Singapore dollars (about 300 to 750 U.S. dollars) this March, as part of the government's efforts to enhance the retirement savings of working seniors, the Ministry of Manpower said Thursday in a release.
The disbursement marks the first tranche of the annual Earn and Save Bonus, introduced in 2024 under a 9 billion Singapore dollar package.
The scheme is designed to provide additional retirement support to Singaporeans born in 1973 or earlier, with a particular focus on those born between 1960 and 1973, whom the ministry refers to as "young seniors" currently in their 50s and early 60s.
In addition to the age requirement, re...