Singapore Buddhist Welfare Lodge distributed $702,710 to 11,694 needy senior citizens and the disabled on Friday, up from the $675,590 given out last year.
The amount of money distributed for this year's Chinese New Year makes it the highest amount so far, since the Lodge started the hong bao distribution in 1949.
Elderly folk under the public assistance scheme received $200 in their red packets this year, an increase from $180 per packet in 2012. In addition, Singapore Buddhist Lodge Welfare Foundation also donated $60,000 to National Kidney Foundation for transport allowance for their needy patients.
Acting Minister for Social and Family Development Mr Chan Chun Sing was the guest of honur at the ceremony and cheque presentation.