SINGAPORE — Laws to provide for the establishment of the Silver Support Scheme were passed in Parliament today (Aug 17), a year after it was announced at the National Day Rally last year.

To be rolled out around the first quarter of next year, the scheme offers quarterly payouts of S$300 to S$750 to low-income Singaporeans aged 65 and above. For a start, the bottom 20 to 30 per cent of elderly Singaporeans, or an estimated 150,000 seniors, will benefit.

Qualifying factors include lifetime wages, household support and housing type. Full details on the eligibility criteria and implementation will be announced at a later date.

Speaking before the bill was passed, Manpower Minister Lim Swee Say made clear that the scheme is not intended as an income supplement. “Unlike other financial assistance schemes like ComCare and Pioneer Generation (Disability Assistance Scheme) that (are paid monthly), Silver Support is ... not intended to be a substitute for other sources of retirement income, which includes Central Provident Fund savings, private savings and family support,” said Mr Lim, who was responding to a question on whether the payouts could be given out monthly rather than quarterly.

The Central Provident Fund Board will be appointed the administrator of scheme, while a commissioner will be named to oversee it. Officers will be able to tap into government databases to retrieve information for means-testing. Anyone who misuses the data could be fined up to S$5,000, jailed up to 12 months, or both. Those who knowingly provide false information to qualify or to obtain a higher payout could be fined up to S$5,000, jailed up to a year, or both.