All adult Singaporeans - about 2.9 million Singaporeans - will receive S$200 to S$800 in December 2023, disbursed via the Assurance Package.
The money is to help with the increasing cost of living.
The payout will be given to Singaporeans aged 21 years and above in 2024, and regardless of the number of properties owned, the Ministry of Finance said on Nov. 15.
About 2.5 million people will receive an additional payment of up to S$200, where this additional sum applies to Singaporeans whose assessable income for year of assessment 2022 is up to S$100,000.
Singaporeans can check their eligibility for the payouts by logging in at the Assurance Package official website with their Singpass.
Citizens are urged to link their NRIC to PayNow by Nov. 19 to receive the cash payments from as early as Dec. 5, as long as 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 Assurance Package official website by Nov. 27 in order to get payment from Dec. 13.
Citizens on GovCash can withdraw their payments at OCBC ATMs islandwide.
This can be done after entering a payment reference number sent to them from Dec. 22 and their NRIC number.
The process would include passing facial verification.
An OCBC bank account is not required to withdraw the payment at the OCBC ATMs.
The cash payments are part of measures in the Assurance Package, to offset inflation and the GST increase for all Singaporeans.
It was announced on Sep. 28 that an additional S$1.1 billion Cost-of-Living Support Package will provide more support to lower- to middle-income Singaporean households.
This includes an S$800 million enhancement to the Assurance Package, to bring its total to over S$10 billion.
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