gstv, gst, cost of living, payouts, assurance package, support package, lawrence wong, mof, ministry of finance

All Singaporeans aged 21 years and above will receive cash benefits of S$700 to S$1,600, depending on their income and property ownership, over a period of five years.

Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong had, in October this year, announced a S$1.5bn support package to provide further cost of living (COL) relief for all households, with more support for lower- to middle-income groups. 

The package builds on the support measures announced under the Assurance Package (AP) in Budget 2022, April 2022, and June 2022. Following that, in early November, DPM Wong announced a S$1.4bn top-up on the Package, in line with the upcoming Goods and Services Tax (GST) increase from 1 January 2023

In line with this, MOF has provided clarity and easy reference for locals to check on the payout amounts, eligibility, expected payout periods, frequently asked questions (FAQs), and more, shared below.

AP Cash and COL Special Payment

According to MOF, all Singaporeans aged 21 years and above will receive AP Cash benefits of S$700 to S$1,600, depending on their income and property ownership. The payment will be disbursed over five years, from 2022 to 2026.

To receive the AP Cash, individuals must fulfill the following criteria:

  1. They must be a Singapore citizen, residing in Singapore;
  2. They must be aged 21 and above in the reference year.

MOF added that as part of the above-mentioned S$1.5bn support package, eligible citizens will receive a one-off COL Special Payment of up to S$500 to be paid in December 2022, together with AP Cash.

To receive the COL payment, individuals must fulfill the following criteria:

  1. They are a Singaporean aged 21 years old or above in 2023;
  2. Their Assessable Income (AI) for Year of Assessment (YA) 2022 is S$100,000 or below, and
  3. They do not own more than one property.

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[click here to check your eligibility for the upcoming GSTV and cost-of-living payouts]

Here is an excerpt of the FAQs on the the COL Special Payment, as shared by MOF:

Q How will I be notified of the COL Special Payment?

You will receive a message in the inbox of your Singpass app after payment has been made in December. Please turn on your notifications for the Singpass app so that you will not miss any alerts and messages.

If you do not have the Singpass app, an SMS will be sent to your Singpass-registered mobile number.

Q How do I update my mobile number to receive SMS for COL Special Payment?

To update your mobile number to receive SMS for COL Special Payment, please log in to your Singpass account at the Singpass website.

For AP MediSave, eligible children without SingPass will be notified via letters sent to their parent’s/guardian’s residential address.

Q How do I download and set up my Singpass mobile app?

You can download the Singpass app at the Singpass website.

Q Do I need to sign up for and/or how do I check if I have signed up for the COL Special Payment?

You will automatically receive your COL Special Payment if you are eligible. No action is required on your part.

More FAQs can be found here.

Other support measures announced

Apart from the above, eligible groups can also look forward to AP MediSave top-ups, the GSTV - Cash (Seniors' Bonus), Additional GSTV - U-Save, and CDC Vouchers.

AP MediSave

Every Singaporean aged (i) 20 years and below, or (ii) 55 years and above, will receive a MediSave top-up of S$450, in total, from 2023 to 2025. Breaking this up, eligible groups will receive S$150 in February 2023, February 2024, and February 2025, respectively.

GSTV - Cash (Seniors' Bonus)

Lower-income Singaporean seniors will receive additional cash payments of S$600 to S$900 through the GSTV – Cash (Seniors’ Bonus). The payments will be disbursed over three years, from 2023 to 2025.

To receive the GSTV – Cash (Seniors' Bonus), individuals must fulfil the following criteria:

  1. They must be a Singapore citizen, residing in Singapore;
  2. They must be aged 55 and above;
  3. Their Income Earned must not exceed $34,000;
  4. The Annual Value of their home (as indicated on the NRIC) must not exceed S$21,000, and
  5. They must not own more than one property

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Additional GSTV – U-Save

Eligible HDB households will receive additional GSTV) – U-Save rebates under the AP from 2023-2026. These additional GSTV – U-Save rebates are on top of the regular GSTV – U-Save rebates under the GSTV scheme, and will be credited together with households' regular GSTV – U-Save in the relevant months.

To receive the additional GSTV – U-Save in 2022, individuals must fulfil the following criteria:

  1. If their flat is not rented out, there must be at least one Singapore citizen owner or occupier; or
  2. If they rent an entire flat, there must be at least one Singapore citizen tenant;
  3. If their flat is not rented out, all owners and essential occupiers must not own or have any interest in more than one property; o
  4. If they rent an entire flat, all tenants must not own or have any interest in more than one property.

Community Development Council (CDC) Vouchers

The Government and the CDCs will distribute two rounds of S$200 CDC vouchers under the AP, to all Singaporean households, in 2023 and 2024 (i.e. S$400 in total).

Separately, as part of the S$1.5bn support package, every Singaporean household will also receive additional S$100 CDC Vouchers in 2023.

The CDC vouchers can be spent at participating heartland merchants and hawkers, and supermarkets. 

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Individuals may head on to the Government's e-services portal to check on their eligibility for the payouts.


All images/ MOF

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