EXTENSION OF EARN AND SAVE BONUS COMPONENT OF MAJULAH PACKAGE TO SELF-EMPLOYED SENIORS

On 20 August 2023, PM Lee announced the Majulah Package which is meant to benefit Singaporeans born in 1973 or earlier. One component of the package is the Earn and Save Bonus. Through my Parliamentary Question, I suggested to the Minister for Manpower that self-employed seniors be also eligible for the bonus, apart from those in full-time and part-time employment. I was however concerned about the potential for false claims of self-employment. Hence, I suggested that safeguards be put in place to prevent such fraudulent claims. The aim is to ensure that the bonus benefits are rightly allocated to genuine recipients without room for exploitation or misrepresentation. Minister Tan See Leng, in his reply, informed that the details will be announced in Budget 2024. I look forward to hearing the details in due course.

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Mr Murali Pillai asked the Minister for Manpower (a) whether the Earn and Save Bonus component of the Majulah Package will be extended to self-employed seniors in addition to those in full-time and part-time employment; and (b) if so, what steps will be taken to guard against persons making false claims of self-employment for the purpose of getting the bonus.

Dr Tan See Leng: The Ministry of Manpower and Ministry of Finance are finalising the details on the Majulah Package, including the eligibility criteria for Earn and Save Bonus and the Retirement Savings Bonus. More information will be announced in Budget 2024.