Mr Markus Sim, who just turned 51 this year, was pleasantly surprised to find he, too, qualified for these CPF bonuses. Said the engineer: “My salary is at the upper S$5,000 range, so I usually don’t enjoy many subsidies. I married late, so most of what I earn goes towards my three young boys, as well as my parents and their live-in caregiver. This is indeed a very welcome move to boost my future CPF LIFE payouts!”

In tandem with these measures, the Government will set aside S$3.5 billion over the next decade for the Age Well SG programme. “I used to grow flowers in my balcony, but stopped due to my health issues, so I’m really excited about the therapeutic gardens,” said Ms Chen, referring to the proposed “silver upgrades” to residential estates that will also include barrier-free ramps and senior-friendly home fittings. 

Added Mr Sim: “My dad had a fall five years ago. Luckily, he was only bruised but it gave me a big scare. Having more senior-friendly features in our homes, at bus stops and on roads will really be a boon. Also, I may be relatively fit right now, but eventually, I, too, will weaken with age. It’s great that there will be more assisted living options and better home care arrangements for both us ‘young’ and ‘old’ seniors.”