Economy
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.
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I’m born 1 May 1962 yet I didn’t receive S$200
Recently, there is a news report that there is an sharp increase in borrowing for those 40-59 in Singapore. The average loan amount is about $22000, there purpose is due to the high cost of living. The handouts are no where near $22000, I the handouts only help very minimally of at all.
Giving you ppl such bread crumps and chicken wings after taking the chicken farms is really terrible.
But then, it seems like these peasants and serfs deserved this.
Afterall, who did the majority of them….VOTED FOR?
ASK THE SAME QUESTION AGAIN AFTER THIS COMING ELECTION…
YOU WILL GET THE SAME ANSWER!😆😆😆🤣🤣🤣
they should go after the greedy landlords….they are the ones who increase rent and caused food prices to increase. What do you think?
most killing is my PUB electricity bills.sigh
Its an insult…like kicking an injured animal when its oredy down…
Ouch!
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Really? Is a one-off payment of S$200 to S$400 enough for the “goverment-inflicted” astronomical cost of living in Singapore?
Increased GST rate, which drives up COL at least 20-30%, collecting more revenues. Now they give a portion of that revenue back to us saying it is to help us with the increased COL. The 61% kenna fuxk and yet they still say ‘Thank You’, hor.
Voters here a very forgiving
Some crying – forgive lah
Some dying – give & take lah
Some ice cream – they are nice lah
Some corrupted – they are human what..!!
Some not in parliament – they very busy people you know..!!
Some talk rubbish – you people dont understand, cant be helped..
Some throw files – they angry with repeated questioning.. not fair..
So, lets give them a long awaited retirement…
Mark X below the PAP…
More than 2,400,000 Singapore citizens above 21 of age with assessable annual income of $100,000 or less shall be entitled to payouts of up to S$400/- Whereas SG PM is paid more than $100,000 per month.Really see and feel the Titanic difference.Why must SG end up with the glaring disparity!!!!
Singaporeans show them we are free riders, #TakeMoneyVoteOppies.
Who are the primary beneficiaries of all those hangouts and grants? The rich landlords and businesses.
And when they become richer, they will increase prices again so government have to increase more handouts and grants and these richest businesses and landlords will increase prices another round.
It’s a forever vicious cycle for the lower income to the poor
Instead of handouts, establish a living wage to address the rising costs. Nobody is buying these Santa Claus actions. It is insulting and repulsive to treat citizens this way.
When they do it, it is not a “populist” agenda but an “assistance package”.
When others suggect any such thing, it is “populist” and “raiding the Reserve”!
At the end of the day, it is using tax $$ to win favourable sentiment from citizens.
Hope it does help those who live hand to mouth though.
But be prepared for another round of inflation.
Swiss cost and standard of living. bo bian. what do you think?
Now give & give like they love us ….hahaha.
Soon after grab grab grab back ..never ending too..
Dont be too happy…save the money and spend wisely…
We must be so poor most of the time for the never ending govt handouts.
Charity begins at home.
Faith, Hope and Charity !
“Let us never forget this fundamental truth: the State has no source of money other than money which people earn themselves. If the State wishes to spend more it can do so only by borrowing your savings or by taxing you more. It is no good thinking that someone else will pay – that ‘someone else’ is you. There is no such thing as public money; there is only taxpayers’ money.”—-Margaret Thatcher, ex late UK PM.
CDC vouchers, ice~cream and now good ‘ol hard cash for most SillyPoreans. This regime is really dishing out the treats and goodies, and I do hope, … that all recipients of this regime’s kindness will not forget who to vote for, … come election time. Five more years, five more years, five more years !!! In the meantime, the $200 to $400 should go a mightily long way !!!, … as public housing lease prices and coe’s continues on its upward trend and so does the costs of basic essentials, … along with utilities, conservancy charges, transportation, teh oh kosong,… Read more »
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