The Fare Review Mechanism Committee (FRMC) submitted its report to the Ministry of Transport on Monday, and its chairman Richard Magnus said its findings will be shared with the public the next day.
Transport Minister Lui Tuck Yew said his ministry will study the report in detail and give a response next week.
In a blog post on Monday, Mr Magnus said his committee has tried, to the best of its ability, to suggest "how limited resources can be spread to meet the needs of the different segments of people who rely on public transport". The difficulty lay in meeting the needs of various stakeholders, he said.
The FRMC had polled 4,600 households on possible concession schemes and gathered as many views as possible through focus group discussions, he said, adding that most of these views have been incorporated in the report. He also left the door open for future tweaks to concessionary fares, saying the framework "will always, in our view, remain a work-in-progress".