It’s that time of the year again—the Budget 2025 speech has just been announced today (February 18).
Over 200,000 Singaporeans have participated in a nationwide survey called Forward Singapore, and the feedback has helped to shape this year’s budget—including cash aid.
With that, here’s all the “free money” Singaporeans can expect to receive.
SG60 Vouchers
S$600 vouchers will be given to all Singaporeans aged 21 to 59.
S$800 vouchers will also be given to all Singaporean seniors aged 60 and above.
These vouchers will be disbursed from July 2025.
Residents can also enjoy a 60% personal income tax rebate, which will be capped at S$200.
All Singaporean babies born in 2025 will also receive an SG60 Baby Gift. More details will be shared by early March.
SG Culture pass valued at S$100 credits will be given to all Singaporeans aged 18 and above available from September 2025 to the end of 2028.
A one-time rental support of S$600 will be given to each stall in hawker centres managed by government or government-appointed operators. Up to $1 billion will also be set aside to upgrade ageing hawker centres and to build new ones over the next two to three decades.
ActiveSG members can also receive S$100 in SG60 credits.
To commemorate Singapore’s upcoming 60th birthday, many businesses have also stepped forward to offer special discounts and offers.
S$800 CDC Vouchers
Every Singaporean household will receive S$800 in CDC vouchers. The first S$500 will be disbursed in May 2025, and the remaining S$300 in January 2026.
Rebates, credits and cash top-ups
More U-save rebates to be given to eligible HDB households will receive up to S$760 in utility rebates this financial year. This rebate will be given quarterly in 2025.
S$500 LifeSG credits will also be given to each Singaporean child aged 12 and below, which can be used for groceries, utilities and pharmacy items.
S$500 Edusave or Post-Secondary Education Account (PSEA) top-up will also be given for Singaporeans aged 13-20 this year.
Large Families Scheme
A new Large Families Scheme will be introduced with the following cash benefits for each third and subsequent child born from Feburary 18, 2025 onwards:
First, an S$5,000 increase will be given to the Child Development Account First Step Grant for childcare and healthcare expenses.
Secondly, a new S$5,000 Large Medisave Grant will be disbursed into the mother’s Medisave account to offset the mother’s pregnancy and delivery costs or her family members’ healthcare expenses.
Thirdly, S$1,000 of LifeSG credits will be given annually to families during the years that the child is between one and six years old.
Medisave & caregiving
A new Matched Medisave scheme was also introduced, where the government will provide a dollar-for-dollar matching grant of up to S$1,000 annually for every dollar of voluntary top-ups received in the Medisave accounts of eligible lower-income seniors aged between 55 and 70.
Existing subsidies for residential long-term care services will be increased by up to 15 percentage points. The maximum qualifying per capita household income will also be raised to S$4,800.
Those born in 1969 or earlier or who do not benefit from CareShield Life, will also benefit from additional subsidies of 5 percentage points for residential long-term care services.
Other cash benefits
PM Wong has also mentioned in his speech that rates for ComCare Assistance schemes will be increased, and Singapore Allowance will be raised from S$350 to S$390 each month.
The monthly pension ceiling will also increase to S$1,320.
All Singaporean households will also receive an additional S$100 worth of climate vouchers, bringing up to S$400, and will be valid until December 2027.
PM Wong also announced that the Fresh Start Housing Scheme will be enhanced, where eligible families can buy a new standard two-room flexi or standard three-room flat on a shorter lease. The grant will be increased to S$75,000.
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- Read more about what we have written on Budget 2025 Singapore here.
Featured Image Credit: timothyroesdiah via Freepik
