Majulah Package Singapore: The S$7 billion retirement boost for Singaporeans born in 1973 or earlier

The Majulah Package is a Singapore Government retirement support scheme for the “Young Seniors” cohort born in 1973 or earlier, comprising three components — the yearly Earn and Save Bonus, a one-off Retirement Savings Bonus, and a one-off MediSave Bonus — costing around S$7 billion in total.

Not financial advice. All figures for educational reference only. Data as at August 2026.

Key Takeaways

• The Majulah Package targets roughly 1.6 million Singaporeans born in 1973 or earlier, split across three components: the yearly Earn and Save Bonus, the one-off Retirement Savings Bonus, and the one-off MediSave Bonus.
• The Earn and Save Bonus (ESB) gives eligible working seniors an annual CPF top-up of S$400 to S$1,000 depending on income, with lower-income working seniors receiving the higher amount, and the 2026 tranche paid in March 2026.
• The Retirement Savings Bonus (RSB) was a one-off CPF top-up of up to S$1,500 for seniors whose CPF retirement savings fell below the 2023 Basic Retirement Sum of S$99,400, disbursed in December 2024.
• The MediSave Bonus was a one-off top-up of S$1,250 or S$2,000 (enhanced from the original S$750/S$1,500 amounts), also disbursed in December 2024, aimed at boosting eligible seniors’ healthcare savings.
• Eligibility for the yearly Earn and Save Bonus requires working seniors to earn an average monthly income of S$500 to S$6,000, live in a home with Annual Value of S$31,000 or below, and own no more than one property.

Table of Contents

What Is Majulah Package?

The Majulah Package is a major Singapore Government initiative, first announced as part of the Forward Singapore agenda, specifically designed to support the “Young Seniors” cohort — Singaporeans born in 1973 or earlier, roughly those in their 50s, 60s, and beyond — who are approaching or already in retirement with potentially less CPF savings than younger cohorts benefiting from decades of higher CPF contribution rates and returns. The package addresses this generational gap directly with a combination of ongoing and one-off cash and CPF top-ups, costing the government approximately S$7 billion across roughly 1.6 million eligible Singaporeans.

The package’s three components serve distinct purposes: the Earn and Save Bonus rewards and supplements continued work in later years with a recurring annual CPF top-up, the Retirement Savings Bonus provided a one-time boost specifically targeted at those with lower CPF retirement savings relative to the Basic Retirement Sum, and the MediSave Bonus provided a one-time healthcare-savings top-up to help older Singaporeans manage rising medical costs as they age. Together, these components reflect a deliberate government strategy of layering targeted, means-tested support on top of Singapore’s existing CPF system rather than a single uniform cash handout.

How It Works in Singapore

The Earn and Save Bonus (ESB) is paid annually to eligible working seniors who meet the income, property, and housing Annual Value criteria, with the CPF top-up amount ranging from S$400 to S$1,000 depending on average monthly income — lower-income eligible seniors receive the higher end of the range, reflecting the scheme’s progressive design. To qualify for the ESB, a Singaporean born in 1973 or earlier must be working and earning an average monthly income between S$500 and S$6,000, live in a property with Annual Value of S$31,000 or below, and own not more than one property; the 2026 ESB tranche was paid out in March 2026, with the next tranche expected in March 2027.

The Retirement Savings Bonus and MediSave Bonus were both one-off disbursements made in December 2024, rather than recurring annual payments. The RSB specifically targeted seniors whose CPF retirement savings fell below the 2023 Basic Retirement Sum of S$99,400, providing a top-up of up to S$1,500 credited directly into their CPF accounts to help close the gap toward a more adequate retirement sum. The MediSave Bonus, enhanced in October 2024 from its original amounts, provided S$1,250 or S$2,000 depending on eligibility criteria, credited to MediSave Accounts to support future healthcare expenses.

Source: Singapore Government Majulah Package official guidance, GovBenefits.gov.sg, MOF/MOM/MOH press release, August 2026.

Majulah Package Singapore Example

A Singaporean born in 1968, working part-time and earning an average monthly income of S$1,200, living in a 4-room HDB flat with an Annual Value well under S$31,000, and owning no other property, would qualify for the Earn and Save Bonus at close to the higher end of the range, receiving up to S$1,000 credited to their CPF accounts in the March 2026 tranche. If this same person’s CPF retirement savings had also been below the 2023 Basic Retirement Sum of S$99,400 at the relevant assessment point, they would additionally have received a one-off Retirement Savings Bonus of up to S$1,500 in December 2024, on top of a MediSave Bonus, illustrating how the package’s components can stack for eligible lower-income seniors.

Advantages of Majulah Package Singapore

• Directly boosts CPF retirement and healthcare savings for an underserved cohort. The package specifically targets Singaporeans who had fewer years to benefit from higher CPF contribution rates, addressing a genuine generational savings gap.
• Progressive design favours lower-income seniors. The Earn and Save Bonus’s sliding scale gives lower-income working seniors a larger annual top-up than higher-income eligible seniors, concentrating support where it’s most needed.
• Rewards continued work without penalising it. By tying the recurring ESB to actual employment income, the scheme incentivises and rewards seniors who continue working in their 50s, 60s, and beyond.
• Combines recurring and one-off support for different needs. The annual ESB addresses ongoing retirement savings adequacy, while the one-off RSB and MediSave Bonus targeted immediate gaps in retirement and healthcare savings respectively.

Risks and Limitations

• Eligibility criteria exclude some seniors. Higher-income seniors, those owning more than one property, or those living in higher-Annual-Value homes do not qualify for the Earn and Save Bonus, even if born within the 1973-or-earlier cohort.
• Bonuses are credited to CPF accounts, not paid as immediate cash. The ESB, RSB and MediSave Bonus amounts are credited into CPF accounts rather than given as spendable cash, meaning recipients cannot access the full amount immediately for day-to-day expenses.
• One-off components are not recurring. The Retirement Savings Bonus and MediSave Bonus were single, one-time disbursements in December 2024 — eligible seniors should not expect these specific components to repeat annually.
• Scheme parameters can be revised in future Budgets. As with any government scheme, eligibility criteria, amounts, and continuation of the Earn and Save Bonus beyond its announced tranches depend on future Budget decisions.

Majulah Package vs Silver Support Scheme

Source: The Kopi Notes analysis, MAS/CPF Board/IRAS/MOH/SDIC public guidance, August 2026.

The Bottom Line

For Singaporeans born in 1973 or earlier, the Majulah Package’s roughly S$7 billion in combined Earn and Save Bonus, Retirement Savings Bonus, and MediSave Bonus support represents one of the largest targeted retirement-adequacy interventions in recent Singapore Budget history, layering means-tested CPF top-ups on top of the existing CPF system rather than replacing it.

Frequently Asked Questions

Related Terms

• Silver Support Scheme Singapore: Up to S$1,080 a Quarter for Seniors Who Earned Less Over Their Working Life
• Workfare Income Supplement Singapore: Up to S$4,900 a Year for Lower-Wage Workers, Split Between Cash and CPF
• CPF Retirement Sum History Singapore
• CPF MediSave Top-Up Singapore: How to Maximise Your Healthcare Fund