Eligible S’poreans Receive Assurance Package Payouts Ahead Of 5 Dec

Eligible Singaporeans Receive Assurance Package Payouts As Early As 1 Dec

Earlier this year, the finance ministry announced that about 2.9 million eligible Singaporeans will begin receiving their Assurance Package (AP) cash payouts from 5 Dec.

However, it seems many Singaporeans have already found themselves a few hundred dollars richer as of Saturday (2 Dec), well ahead of the stipulated payment date.

OCBC users were apparently the first to receive the payout, with some receiving the funds as early as Friday (1 Dec).

OCBC users among first to receive Assurance Package payouts

As with previous government payouts, OCBC customers were reportedly the first to receive the AP payouts this year.

OCBC users on the HardwareZone forum began sharing that they received the AP cash payouts as early as about 3am on Friday (1 Dec).

Other OCBC users started receiving the payouts throughout the day.

DBS/POSB users started receiving theirs from about 4.30pm later in the evening.

UOB users reportedly started receiving the funds about 30 minutes later at about 5pm.

Eligible Singaporeans with PayNow-NRIC-linked bank accounts to receive payouts first

The payouts comprised two components — AP Cash and AP Cash Special Payments.

The AP Cash component was announced back in February during Budget 2023. The payouts for this year were higher than that in 2022 to account for higher inflation and cost-of-living concerns.

This payout was further enhanced in September when Finance Minister Lawrence announced the Cost-Of-Living (COL) support package, which saw some 2.5 million eligible Singaporeans receive additional payments of up to S$200.

The Ministry of Finance (MOF) announced last month that eligible Singaporeans who linked their NRIC to PayNow would receive the AP Cash payouts starting next Tuesday (5 Dec).

Alternatively, those who provide their bank account details to MOF by 27 Nov will receive the payouts from 13 Dec.

Meanwhile, eligible Singaporeans who do not have PayNow-NRIC-linked bank accounts and who have not provided MOF their bank account details will receive the payouts via GovCash, starting 22 Dec.

Those who’ve already received the payouts were likely those with PayNow-NRIC-linked bank accounts.

Have you received your payouts and if so when did you receive them? Share with us in the comments below.

Have news you must share? Get in touch with us via email at news@mustsharenews.com.

Featured image courtesy of MS News reader and adapted from OCBC via Tech In Asia.