SingPost to raise postage, delivery rates from 2023
SingPost will raise rates for postage, package delivery and doorstep parcel delivery in 2023 due to the upcoming hike in goods and services tax (GST).
GST, currently at 7 per cent, will go up to 8 per cent from January 2023, and 9 per cent from 2024.
Rates for selected local mail services will rise between two and 10 cents by 2024.
The revised rates also come amid “exceptional inflationary cost increases across manpower, fuel and electricity”, SingPost chief executive of Singapore Neo Su Yin said on Friday.
“SingPost has also been bearing the impact of inflationary cost increases across manpower, fuel and electricity that have risen significantly. The adjustment in rates will help us maintain our service offerings and high service standards, and enable us to operate sustainably with the GST hike,” she said.
The rate for standard regular basic mail weighing up to 20g will be increased to 31 cents in 2023, and 32 cents in 2024, up from 30 cents in 2022.
Standard regular basic mail weighing up to 40g will cost 38 cents in 2023 and 39 cents in 2024, up from 37 cents in 2022.
The associated stamps, which are the first and second local stamps, will be priced at 31 cents and 38 cents respectively from 2023.
SingPost’s postage rates have not been adjusted since 2014.
Customers still holding existing first local and second local stamps can continue using them after 2023 and need not top up the difference in postage.
Prices for other basic mail services, including standard large and non-standard mail, will remain unchanged as GST is not applied on them.
Tracked mail, now priced between $2.55 and $3.40, will also be raised from 2023.
The price for items weighing up to 20g will go up by five cents from 2023, while that for items weighing up to 40g will see an increase of five cents from 2024.
For items weighing up to 100g, 250g and 500g, there will be an increase of five cents from 2023 and another five cents in 2024.
The Registered Service (Singapore) fee will also be increased, from $2.24 to $2.27 from 2023, and to $2.30 from 2024. SingPost noted that this fee is payable on top of the applicable postage rates.
The Speedpost Standard delivery fee within Singapore will be revised from $6 to $6.10 from 2023, and to $6.20 from 2024.
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