On 15 Nov, the Ministry of Finance (MOF) announced that 2.9 million adult Singaporeans will be receiving cash payouts of at least S$200 in December.
The payouts will come from the Assurance Package (AP), which was enhanced as announced by Deputy Prime Minister (DPM) Lawrence Wong at Budget 2023.
Citizens will begin receiving the payment as early as 5 Dec, MOF revealed.
In a press release on 15 Nov, MOF announced that eligible Singaporeans will receive S$200 to S$800 in December.
Adult Singaporeans aged 21 and above in 2024 will be able to access the cash payouts.
About 2.9 million adult Singaporeans are eligible, and will receive up to S$600 in AP Cash.
2.5 million of them will also receive up to S$200 in AP Cash Special Payment.
Citizens with their NRIC linked to their PayNow accounts by 19 Nov will receive their payouts as early as 5 Dec onwards.
Those without linked accounts can update their bank account information on AP’s website by 27 Nov. They will receive the payment starting from 13 Dec.
Citizens can check for further details on the payouts at AP’s official website here.
As for those receiving the payouts via GovCash, they will be able to do so at OCBC ATMs by entering their payment reference number (PRN) that they will get from 22 Dec.
MOF shared that the additional cash payouts are part of enhancements to the AP which DPM Wong announced for Budget 2023.
The enhancements would account for higher inflation, in addition to providing one-off support to Singaporeans for immediate cost-of-living concerns.
They will also enable the AP to offset GST expenses for the majority of households for at least five years.
Meanwhile, the AP will offset around ten years of additional GST expenses for lower-income households.
On 28 Sep, DPM Wong revealed a S$1.1 billion Cost-of-Living (COL) Support Package, including a S$0.8 billion enhancement to the AP. This brought its total to over S$10 billion.
Also read: PM Lee Asks Lawrence Wong If Assurance Package Can Be Enhanced For 2024, Hopes For Good News
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Featured image by MS News.
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