Budget 2024: All S’pore NSmen to get S$200 worth of digital credits in Nov

All past & present S’pore NSmen to get S$200 digital credits via the LifeSG app

All Singapore national servicemen (NSmen) will get S$200 in the form of digital credits in November 2024.

The cash, announced in this year’s Budget 2024 speech, will be accessible via the LifeSG mobile application.

This will apply to all past and present NSmen.

1.2 million NSmen will get digital credits

The initiative was announced in the Budget 2024 speech in Parliament made by Deputy Prime Minister (DPM) Lawrence Wong on Friday (16 Feb).

He said the credits would be a “small gesture” towards our NSmen who have “served faithfully and made immeasurable sacrifices for our peace and security”.

The payout will be disbursed to 1.2 million NSmen, including reservists and full-time national servicemen (NSFs).

It will also cost the Government S$240 million, Mr Wong said, adding:

I hope this will go some way in expressing our appreciation and gratitude to our national servicemen as well as their families for all that they have done, and will continue to do for our country.

NSmen will get digital credits in Nov

In an annex to the Budget statement, the Ministry of Finance said all past and present NSmen will be eligible for the S$200 credits.

That includes those who haven’t enlisted yet but will enlist by 31 Dec 2024.

Those who are eligible will receive an SMS and will get the credits in November.

These credits will then be valid for one year from the date of issue.

Credits can be accessed via LifeSG app

NSmen should also note that the S$200 can be accessed only via the LifeSG app.

The app can be downloaded onto smartphones and other digital devices.

 

After being claimed, the credits can be used at more than 100,000 online and physical merchants.

These merchants will have to accept payments via QR code over PayNow or NETS.

Credits were also given to NSmen in 2022

The last time NSmen were given digital credits was in July 2022 to mark 55 years of NS (NS55).

At the time, eligible NSmen received S$100 in credits via the LifeSG app as a gesture of appreciation for their contributions to Singapore’s defence and security.

NSmen To Get S$100 Digital Credits From 1 Jul As Part Of NS55 Celebrations

They also received a complimentary one-year SAFRA or HomeTeamNS membership.

MINDEF later said that the NS55 credits would be accepted at merchants that accept payment via Scan and Pay via PayNow UEN QR or NETS QR, including supermarkets, retail and F&B outlets and hawkers.

NSmen were also free to decide how they would like to use the credits, the ministry said, after it emerged that they could be redeemed in cash at Sheng Siong supermarket.

However, MINDEF also noted that extra fees might be incurred when cashing out NS55 Credits at merchants.

Also read: NSmen Free To Decide How To Use NS55 Credits, Encashment Might Incur Extra Fees: MINDEF

NSmen Free To Decide How To Use NS55 Credits, Encashment Might Incur Extra Fees: MINDEF

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Featured image adapted from Basic Military Training Centre on Facebook.