Effectiveness and Sustainability of the Pioneer Generation Package and Merdeka Generation Package20 Oct 2022
Parliamentary Question by Dr Lim Wee Kiak:
To ask the Deputy Prime Minister and Minister for Finance since the introduction of the Pioneer Generation Package and the Merdeka Generation Package (a) how much of the budget set aside has been spent under each package respectively; (b) how many citizens have benefited from these packages and of which, how many recipients are still alive; and (c) how has the rise in inflation impacted on the budget for these packages.
Parliamentary Question by Mr Liang Eng Hwa:
To ask the Deputy Prime Minister and Minister for Finance (a) how many seniors have benefitted from the Pioneer Generation Package and Merdeka Generation Package respectively; (b) how much money has been disbursed so far under each of the Packages; (c) whether the funds set aside for both Packages are adequate to meet future disbursements; and (d) whether projected surpluses, if any, can be used to enhance the benefits of both Packages.
Parliamentary Reply by Senior Minister of State for Finance, Mr Chee Hong Tat:
5. MOF and MOH review the sufficiency of the PG Fund and MG Fund every year. As at 31 March 2022, there is a balance of $6.16 billion in the PG Fund and $5.72 billion in the MG Fund. The Government will monitor the situation and if necessary, we will top up these Funds to honour the commitments to our PG and MG seniors.
6. This is part of our efforts to prepare Singapore for an ageing society, and why the Government needs to ensure we have sufficient fiscal resources to support and care for our seniors.