ElderFund: Aid for Singapore's Elderly | Definitive Guide [2025]

ElderFund: Aid for Singapore’s Elderly | Definitive Guide

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ElderFund Aid for Singapore's Elderly Definitive Guide

Navigating the complexities of financial assistance schemes can be daunting, especially when it comes to long-term care.

That’s where ElderFund comes in – a lifeline for severely disabled, lower-income Singaporean citizens aged 30 and above.

Having spent years diving deep into the world of personal finance and insurance, I’ve seen firsthand how crucial the right support can be.

In this post, you’ll learn:

  • What ElderFund is and its objectives
  • The eligibility criteria for ElderFund
  • How to claim the benefits
  • How long it takes to get approved and receive payouts

 

Did you know that many eligible Singaporeans miss out on crucial financial aid simply because they aren’t aware of it?

Don’t let this be you.

Stick around to discover how ElderFund can make a significant difference in managing your care needs.

What is ElderFund?

ElderFund is a financial assistance scheme in Singapore designed to provide crucial support to severely disabled lower-income Singaporean Citizens aged 30 and above.

If you or a loved one find yourselves struggling with the costs associated with severe disabilities, ElderFund could be a lifeline.

It’s specifically tailored to help those who need it the most, ensuring that financial constraints don’t prevent access to necessary care.

As you might be aware, managing the costs of long-term care can be daunting, especially for those with limited financial resources.

ElderFund aims to bridge this gap by offering financial support that covers essential daily living and medical expenses not already taken care of by other schemes.

This assistance is particularly beneficial for those who are severely disabled, as it helps alleviate some of the financial burdens associated with their condition.

For instance, ElderFund provides up to $250 per month, a significant amount that can go a long way in covering the day-to-day costs of care.

This support is intended to complement other schemes such as MediSave, creating a comprehensive safety net for the most vulnerable in our society.

What is the ElderFund eligibility criteria?

Firstly, you must be a Singaporean citizen residing in Singapore.

This ensures that the scheme supports citizens within the local community who are directly contributing to or have contributed to the nation.

Secondly, you need to be aged 30 years and above.

ElderFund specifically targets adults and seniors who are more likely to encounter severe disabilities and require long-term care.

By setting this age limit, the scheme ensures that the financial assistance is directed towards those in a critical phase of life where such support is most essential.

A crucial part of the eligibility criteria is your ability to perform daily activities.

To qualify, you must be unable to perform at least 3 out of 6 Activities of Daily Living (ADLs).

These activities include:

  • Eating: The ability to feed oneself.
  • Bathing: The ability to take a bath or shower.
  • Dressing: The ability to put on and take off clothing.
  • Transferring: The ability to move from one place to another, such as from a bed to a chair.
  • Toileting: The ability to get on and off the toilet and manage personal hygiene.
  • Walking or moving around: The ability to walk or move from place to place independently.

 

This criterion ensures that ElderFund supports those with significant disabilities who require assistance with basic daily functions, thereby addressing the needs of the most vulnerable.

Additionally, you must not be able to qualify for other existing disability schemes like CareShield Life, ElderShield, or the Interim Disability Assistance Programme for the Elderly (IDAPE).

This condition ensures that ElderFund acts as a safety net for those who fall through the gaps of other financial assistance schemes.

There is also a guiding financial criteria* given below:

  • Household monthly income per person is $1,200 or less; and
  • MediSave balance of less than $10,000

 

*Applications from Singaporeans who do not meet the guiding financial criteria but have difficulty meeting their long-term care needs will be considered on a case-by-case basis.

How to claim from ElderFund?

Here’s a step-by-step guide to help you claim from ElderFund:

  1. Arrange for a Disability Assessment First, you need to arrange for a disability assessment with a Ministry of Health (MOH)-accredited severe disability assessor.

This assessment is crucial as it determines your eligibility based on your ability to perform the Activities of Daily Living (ADLs).

The assessor will evaluate whether you are unable to perform at least 3 out of 6 ADLs, which is a key criterion for ElderFund eligibility.

The fees are as follows, if:

    • You visit an assessor’s Clinic: $100
    • An assessor visits your house: $250

Fees will only be reimbursed if the recipient is assessed to be severely disabled.

  1. Submit an Online Application Once you have completed the disability assessment and have the necessary documentation, you need to submit an online application via the eFASS (Electronic Financial Assistance Schemes System) platform.

The eFASS platform is user-friendly and designed to streamline the application process.

Ensure you have all required documents ready to upload, including the disability assessment report.

  1. Receive Monthly Cash Payouts If your application is approved, you are entitled to receive up to $250 in monthly cash payouts.

These payouts will continue for as long as you remain eligible under the scheme.

How long does it take for my ElderFund application to be processed and approved and for me to get the payout?

Your ElderFund application will be processed within 2 months, and payouts will be made to your bank account within the following month.

This first payout may include the payouts from the month you submitted your application.

Frequently Asked Questions

Who administers ElderFund?

ElderFund is administered by the Ministry of Health (MOH) in Singapore.

The Ministry of Health oversees the implementation and management of ElderFund, ensuring that it provides necessary financial support to eligible individuals.

Through MOH’s efforts, the scheme is designed to assist severely disabled, lower-income Singaporeans in meeting their long-term care needs effectively and efficiently.

How is ElderFund different from MediFund and Comcare?

ElderFund is different from MediFund and ComCare in several ways.

ElderFund specifically targets severely disabled, lower-income Singaporean citizens aged 30 and above, providing financial assistance for their long-term care needs.

MediFund, on the other hand, is designed to help patients who are unable to afford their medical bills, ensuring no one is denied essential healthcare services.

ComCare focuses on providing comprehensive social assistance to low-income families, helping them meet basic needs like food, shelter, and education.

Each scheme addresses different aspects of financial support, tailored to distinct groups within Singapore’s population.

How was the payout amount of $250 per month decided for ElderFund?

The payout amount of $250 per month for ElderFund was decided based on the assessment of the financial needs of severely disabled, lower-income Singaporeans.

This amount aims to provide substantial support for daily living and medical expenses, bridging the gap for those who require long-term care but may not have sufficient resources.

The Ministry of Health, in consultation with various stakeholders and experts, determined that this amount would significantly ease the financial burden on eligible individuals, helping them manage their essential care needs more effectively.

Are Singaporeans who live abroad eligible for ElderFund payments?

Singaporeans who live abroad are not eligible for ElderFund payments.

To qualify for ElderFund, you must be a Singaporean citizen residing in Singapore.

The scheme is designed to support those within the local community who need financial assistance for long-term care due to severe disabilities.

This residency requirement ensures that the resources are directed towards individuals who are part of the domestic healthcare and social support systems.

If a person has dementia or another form of cognitive impairment, does ElderFund automatically approve them?

Having dementia or another form of cognitive impairment does not automatically qualify a person for ElderFund.

Eligibility for ElderFund requires a thorough assessment by a MOH-accredited severe disability assessor.

The individual must be unable to perform at least 3 out of 6 Activities of Daily Living (ADLs), such as eating, bathing, dressing, transferring, toileting, and walking or moving around.

Therefore, each application is evaluated on a case-by-case basis to ensure that all criteria are met.

If my ElderFund payout had ceased due to recovery, can I subsequently reapply if I become severely disabled again?

Yes, if your ElderFund payout had ceased due to recovery, you can subsequently reapply if you become severely disabled again.

You will need to undergo a new disability assessment by a MOH-accredited severe disability assessor to determine your eligibility based on the current criteria.

If you meet the requirements, you can resume receiving financial assistance from ElderFund to support your long-term care needs.

Conclusion

To wrap things up, we’ve covered the essentials of ElderFund – a crucial financial assistance scheme designed to support severely disabled, lower-income Singaporeans aged 30 and above.

We’ve gone through what ElderFund is, who is eligible, how to claim, and the timeline for processing and receiving payouts.

In a nutshell, ElderFund aims to bridge the gap for those who need help the most, providing up to $250 a month to ease the financial strain of long-term care.

If you meet the criteria, it’s worth considering this support to manage your daily living and medical expenses.

Still have questions or feeling a bit lost? No worries, we’ve got your back!

Reach out to one of our friendly financial advisor partners for free financial planning advice.

They’re here to help you navigate the process and ensure you get the support you need.

Don’t hesitate to get in touch and take the next step towards securing your financial well-being.

References

Picture of Firdaus Syazwani
Firdaus Syazwani
In 1999, Firdaus's mother bought an endowment plan from an insurance agent to gift him $20,000. However, after 20 years of paying premiums, Firdaus discovered that the policy was actually a whole life plan with a sum assured of $20,000, and they didn't receive any money back. This experience inspired Firdaus to create dollarbureau.com, so that others won't face the same problem of being misled or not understanding what they are purchasing – which he sees as a is a huge problem in the industry.

Disclaimer: Each article written obtained its information from reliable sources and should be purely used for informational purposes only. The information provided by Dollar Bureau and its affiliated parties is not meant to be construed as financial advice. Dollar Bureau shall not be held liable for any inaccuracies, mistakes, omissions, and losses incurred should you act upon any information listed on this website. We recommend readers to seek financial planning advice from qualified financial advisors. 

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