The Covid-19 Support Grant (CSG), which helps Singaporeans who are unemployed or have suffered significant income loss, will be extended to December 2020.

Deputy Prime Minister (DPM) and Finance Minister Heng Swee Keat made this announcement in a ministerial statement on Aug. 17.

CSG introduced in earlier Budget

CSG, which was introduced in May 2020, allocated S$800 million to help people who have lost their jobs, placed on no-pay leave or have experienced significant income loss due to Covid-19.

Those who have lost their jobs or have been put on involuntary no-pay leave for three consecutive months may receive a monthly cash grant of up to S$800, for three months.

For those who have experienced a pay cut of at least 30 per cent for three consecutive months, they may receive up to S$500 for three months.

The cash support quantum will be based on the last-drawn monthly salary and the grant will be credited into recipient's bank account.

60,000 people have benefited

Heng revealed that more than 60,000 people have benefited from this scheme so far, with about S$90 million disbursed.

Previously, the scheme was open until end-September 2020.

However, from Oct. 1, 2020, the extension will be open to both existing CSG recipients and new applicants. To qualify, unemployed applicants must demonstrate job search or training efforts.

The scheme will be extended to December 2020.

Heng stated, "Our labour market is likely to remain weak beyond 2020. We are studying how to continue supporting employees and self-employed persons who are most vulnerable."

More details will be released by the Ministry of Social and Family Development later.

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Top image from MSF.