About 2.9 million adult Singaporeans to receive Assurance Package cash payments in December, Latest Singapore News - The New Paper

About 2.9 million adult Singaporeans to receive Assurance Package cash payments in December

About 2.9 million adult Singaporeans will receive between $200 and $800 in December through the government’s Assurance Package, to help with the rising cost of living.

This will apply to Singaporeans aged 21 years and above in 2024, and regardless of the number of properties owned.

Within this group of 2.9 million Singaporeans, about 2.5 million people will also receive an additional payment of up to $200, said the Ministry of Finance on Wednesday. This additional sum applies to Singaporeans whose assessable income earned in 2021 is up to $100,000.

The cash payments are part of a suite of measures – which also includes MediSave top-ups and Community Development Council vouchers – in the Assurance Package, which cushions the impact of higher inflation and the GST increase for all Singaporeans.

Deputy Prime Minister and Finance Minister Lawrence Wong announced on Sept 28 an additional $1.1 billion Cost-of-Living Support Package to provide more support to Singaporean households, especially lower- to middle-income families. This includes an $800 million enhancement to the Assurance Package, which brings its total to over $10 billion.

Citizens can check their eligibility for the payouts by logging in at the Assurance Package official website with their Singpass.

To receive their cash payments from as early as Dec 5, citizens are encouraged to link their NRIC to PayNow by Nov 19 if they have accounts with participating banks in Singapore.

Those without PayNow-NRIC linked bank accounts can update their bank account information with DBS/POSB, OCBC or UOB at the AP official website by Nov 27 in order to receive the payment from Dec 13.

Citizens on GovCash can withdraw their payments at OCBC ATMs islandwide after entering a payment reference number that will be sent to them from Dec 22, their NRIC number and after passing facial verification. An OCBC bank account is not required to withdraw the payment at the OCBC ATMs.