MOF: 2.4M Singaporeans to receive S$200-S$400 cost-of-living aid in September
In September 2024, eligible adult Singaporeans will receive a one-off payment of S$200 to S$400 to ease the cost of living. The Ministry of Finance (MOF) said this will benefit over 2.4 million Singaporeans aged 21 and above, with annual assessable income up to S$100,000.
SINGAPORE: In September 2024, all eligible adult Singaporeans will receive a one-off special payment ranging from S$200 to S$400 to help alleviate the rising cost of living.
The Ministry of Finance (MOF) announced on Tuesday (13 August) that this payment will benefit over 2.4 million Singaporeans aged 21 and above, whose annual assessable income does not exceed S$100,000.
However, individuals who own more than one property are not eligible for this payout. To check their eligibility, citizens can log in to the govbenefits website using their Singpass.
Eligible recipients will be notified through their Singpass app in September after the payout is credited.
To protect against scams, the MOF emphasized that any SMS notifications regarding this benefit will be sent by gov.sg, and no information about the payout will be communicated through WhatsApp or other mobile messaging platforms.
Prime Minister Lawrence Wong, who also serves as Finance Minister, first announced the Cost-of-Living Special Payment during the Budget 2024 speech in February.
Eligible adult Singapore citizens have previously received between S$300 and S$500 in 2022 and between S$200 and S$400 in 2023 as part of similar support measures.
The current payout is part of the Assurance Package, which is designed to cushion the impact of rising inflation and the increase in the Goods and Services Tax (GST).
This package also includes CDC vouchers for all households, U-Save, and service and conservancy charge (S&CC) rebates for HDB households, aimed at offsetting utility bills and S&CC.
For example, each Singaporean household has received a total of $800 in CDC vouchers in 2024—S$500 in January and S$300 in June.
Citizens are encouraged to register for PayNow-NRIC with their banks by August 26 to receive the payment earlier, starting from 5 September.
The participating banks are Bank of China, CIMB, Citibank, DBS Bank/POSB, HSBC, ICBC, Maybank, OCBC Bank, RHB Bank, Standard Chartered Bank, Trust Bank, and UOB Bank.
For those who do not have a PayNow-NRIC linked bank account but hold an account with DBS/POSB, OCBC, or UOB, they can provide their bank account details on the govbenefits website by 27 August.
These individuals will receive their cash benefits via Giro starting 13 September.
Eligible citizens who have neither linked their NRICs to PayNow nor provided a valid bank account will receive their cash benefits via GovCash.
