GSTV 2023 payouts: Eligible Singaporeans to receive up to S$700 in August

About 624,000 eligible Singaporean adults aged 65 and above in 2023 will also receive up to S$450 credited to their CPF MediSave Accounts as part of the GSTV – MediSave scheme.

Around 1.5mn Singaporeans will receive up to a total of S$700 in cash in August 2023 from the enhanced GSTV – Cash scheme. With this, eligible Singaporeans will get up to S$300 more from the GSTV – Cash, compared to the previous year. 

The payouts come in line with Deputy Prime Minister and Minister for Finance Lawrence Wong's announcement at Budget 2023, 

Along with these payouts, in the same month, about 624,000 eligible Singaporean adults aged 65 and above in 2023 will receive up to S$450 credited to their CPF MediSave Accounts as part of the GSTV – MediSave scheme. 

According to the Ministry of Finance (MOF), Singaporeans born on or before 31 December 1969 (aged 54 and above in 2023) who do not receive the Pioneer Generation or Merdeka Generation benefits will benefit from this top-up, which is running in its fifth year.

Eligibility

Eligible recipients who have previously signed up for Government disbursement schemes will receive the payment automatically. Citizens may sign up for the GSTV Scheme and check their eligibility for the GSTV – Cash and MediSave benefits at the GSTV official website by logging in with their Singpass.

Those who have not previously signed up for the GSTV scheme can do so at the GSTV official website by 10 July 2023, to receive their payment in August 2023. Those who sign up after 10 July, but still by August, will receive their payment in September 2023. Subsequently, citizens who sign up will receive their payments by the end of the following month.

The last day to sign up for the 2023 GSTV scheme is 30 April 2024.

MOF added that those who have not signed up previously will also be notified by end-August 2023 via the Singpass app, SMS, or hardcopy letters sent to their NRIC address if they do not have the Singpass app or a Singpass-registered mobile number.

In terms of payment mode, PayNow-NRIC will continue to be the default payment mode for citizens who have linked their NRIC to PayNow. Citizens are encouraged to register for PayNow-NRIC by 21 July 2023 if they have accounts with the ten participating banks in Singapore. By doing so, eligible citizens will be able to receive their 2023 GSTV earlier, from 1 August 2023. 

Those without PayNow-NRIC linked bank accounts may also update their bank account information (with DBS/POSB, OCBC, or UOB only) at the GSTV official website by 30 July 2023. Those receiving payments via direct bank crediting will be able to receive the payment from 11 August 2023.

GovCash to replace cheques as a mode of payment 

From 2022, GovCash has replaced cheques as the mode of payment for citizens who have not provided their bank accounts or linked their NRICs to PayNow. Citizens on GovCash may withdraw their GSTV – Cash at OCBC ATMs island wide by entering their:

1. Payment Reference Number (PRN) that will be sent to them from 21 August, 
2. NRIC, and
3. after passing the facial verification. 

They do not require an OCBC bank account to withdraw the payment at the OCBC ATMs.

GovCash recipients may also use the LifeSG app to make payments to merchants by scanning their PayNow or NETS QR code, or transfer payments to their bank accounts via PayNow if they subsequently register for PayNow-NRIC.

It should be noted that eligible recipients with Singpass will only be notified in August 2023 after their GSTV – Cash and/or GSTV – MediSave has/have been credited, in their app inbox. Those who have not downloaded or completed their one-time setup on the Singpass app, but have registered their mobile numbers with Singpass will receive SMS notifications.

The August GSTV – Cash and GSTV – MediSave payments are part of a series of support measures for Singaporeans to cope with the increased GST and living expenses. It follows the most recent cost-of-living payouts of up to S$400 in June.

This July, about 950,000 eligible HDB households will also be receiving GSTV – U-Save rebates that will amount to approximately eight to 10 months’ worth of utility bills for the average household living in one- and two-room HDB flats, and about four to six months’ worth of utility bills for the average household living in three- and four-room HDB flats. At the same time, eligible HDB households will receive their quarterly GSTV – S&CC Rebate to offset between 0.5 and one month's share of their S&CC payment for July 2023. Full updates on this here. 

Lead image / Ministry of Finance