On Monday (6 May), a Bill had been passed in Parliament to establish the S$6.1 billion Merdeka Generation Fund (MGF). The fund is to help nearly 500,000 Singaporeans with their healthcare costs.
The new law consists amendments to the Pioneer Generation Fund Act, where it has now set the MGF as separate from the existing Pioneer Generation Fund.
The Second Minister for Finance Lawrence Wong explained that the changes is done to know which money in this new fund can be used. In addition to that, the Bill also calls for separate financial statements and auditor’s report for both funds to be presented to Parliament.
Besides that, some other amendments that were made include setting out the eligibility criteria for the Merdeka Generation Package, as well as the processes involved for locals to appeal in order to be included in the package.
As for now, the package are meant for citizens born between 1 January 1950 and 31 December 1959. However, for those who were born before 31 December 1949 and did not receive the Pioneer Generation Package, then the appeals panel may decide that he is entitled for the Merdeka Generation Package.
“The changes in this Act will enable the Government to implement the Merdeka Generation Package. This is how we can honour our Merdeka Generation for their contributions and give them and their families greater peace of mind with their healthcare costs,” said Mr Wong.
Last week, it was reported in The Straits Times that those who are qualified for the package should have gotten a letter from the Health Ministry, and they will be receiving their welcome folder and Merdeka Generation cards in the mail from late June.