Understanding ElderShield and its proposed changes

A special committee has proposed a makeover to the ElderShield scheme. Invest editor Lorna Tan tackles the whats and whys behind the recommendations.

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There are two basic ElderShield plans. ElderShield 300 was the default plan for people who joined the scheme between September 2002 and August 2007, with a monthly cash payout of $300 for up to five years.

ElderShield 400, which was the default plan after September 2007, has a monthly cash payout of $400 for up to six years.

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A version of this article appeared in the print edition of The Straits Times on February 24, 2018, with the headline Understanding ElderShield and its proposed changes. Subscribe