…we have an overall surplus of $3 900 000 000…
…that’s an awful lot of ‘0’s…
WHAT DOES IT MEAN?
(Does it have something to so with Singapore’s rising cost of living?!)
Here’s what we stand to benefit from Budget 2014!
- Kindergarten financial schemes are extended to mid-income groups.
- Families earning less than $3000/month will pay $3/month, lower than the previous $75/month!
- Families earning less than $4800/month will pay $85/month in kindgarten fees, lower than the previous $130/month!
- The requirement for per capita with household income threshold for application of bursaries for institutes of higher learning is raised to $1900.
- Bursaries for university students from low-income families and mid-income families are increased to $3600/year and $2600/year respectively.
- Increase in CPF contributions for workers 50 and above.
- Annual medisave topups of at least $200 for people aged 65 and above.
- MediShield life subsidies of at least 40% for those aged 65 and above.
- Parent relief and and handicapped parent relief increased by $3000!
- Decreased outpatient care costs and enhanced benefits under CHAS.
- Additional 50% off subsidized bills @ specialist outpatient clinics and polyclinics
- Disability assistance (real money!) of $1200/year.
- Foreign worker levies are to be increased to $700. (ok, not so awesome for employers)
- Loans from the micro-loan program for young SMEs are to be increased to 70%!
- Sharing of parent relief is now allowed.
- Subsidies of up to 80% will be available for those who require dedicated transport services to access special education and care services!
THE PIONEER GENERATION
- All members receive benefits for the rest of their lives, regardless of income.
- Members will not be differentiated by income.
- Members aged 80 and above in 2014 will have their premiums covered through premium subsidies and MediSave toppings. Elderly Singaporeans can also use a portion of their MediSave more flexibly.
- MediShield Life will cover all members including those with pre-existing conditions.
- Members with moderate/severe disabilities or their nominated caregivers will receive cash assistance of $2000/year.
- Members not on CHAS now qualify and those already on CHAS get more benefits!
…for most of us anyway :P
This article has been contributed by Kornelius Wang (Heian Edenwood)
This author has a passion for all things relating to gardening, art, writing and music. He has a mild obsession over fluffy animals as well. It is said that when the full moon appears, said author stares off blankly in space.
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