All adult Singaporeans aged 21 and above in 2024 will receive a cash payout, ranging from S$200 to S$800, this month.
This lump sum payment consists of two cash payouts that the government announced earlier in the year to help Singaporeans cope with the rising cost of living.
The first is the AP Cash Special Payment, which was announced in September 2023.
The second is the AP Cash, which was announced in November 2023.
How much cash am I getting?
The AP Cash Special Payment is only available to Singaporeans whose assessable incomes are S$100,000 or less and own either one or no property.
Eligible Singaporeans will receive either S$150 or S$200, depending on their assessable income.
Conversely, every adult Singaporean, regardless of how much they earn or how many pieces of property they own, will receive some amount of AP Cash.
They will get either S$200, S$350 or S$600, depending on their assessable income and number of property owned.
The two payouts will be paid as a lump sum in December 2023.
To find out the exact amount to be credited, the Assurance Package's website has an e-service that Singaporeans can check to find out the total amount they are eligible for.
The site can be accessed via Singpass.
Information on personalised payment dates for other support measures, such as MediSave disbursements and Seniors' Bonus in the Assurance Package will also be made known.
Come mid-January 2024, eligibility for these government benefits can be found on this e-service.
Where and when am I getting the money?
There are a number of ways for the cash to be credited.
1. PayNow- NRIC linked bank account from Dec. 5
If you had linked your NRIC to your PayNow account by the Nov. 19 deadline, you should be getting the cash from today, Dec. 5, 2023 in that PayNow account.
Some said they received the payout as early as Dec. 1.
2. Non-PayNow account from Dec. 13
Those who do not use PayNow-NRIC linked bank accounts should receive the cash from Dec. 13, 2023, assuming they had updated their bank account information with DBS/ POSB, OCBC or UOB by the Nov. 27 deadline.
3. Withdraw cash directly with GovCash from Dec. 22
If you did not meet any of the deadlines above, or are unable to make use of those methods, the cash payout will still come to you via GovCash.
This is a payment mode where citizens can withdraw their government benefits in cash from 500 OCBC ATMs islandwide.
It has replaced cheques as a mode of payment for government benefits.
Those who do not have a bank account can withdraw the cash payouts via GovCash which is available at 500 OCBC ATMs islandwide. Via.
If you're in this category, you will receive a letter containing a payment reference number from Dec. 22.
This payment reference number, together with your NRIC and facial scan, will be used to verify your identity at the ATM before the cash is disbursed.
You cannot get another person to withdraw the cash on your behalf.
You don't need an OCBC account to utilise this GovCash feature.
How do I know if the cash has been credited into my account?
If you have the Singpass app up and running on your phone, you will be notified once the AP Cash and AP Cash Special Payment are credited.
If you have not set up Singpass on your phone, you will probably be notified via an SMS.
In November, the Ministry of Finance urged Singaporeans to be vigilant against scam SMS notifications that purport to be about the cash payouts.
The ministry advised Singaporeans to remember three things when in doubt:
- The SMS notification (sent by “MOF”) will only inform citizens of their benefits.
- Citizens will not be asked to reply to the SMS, click any links, or provide any information to the sender.
- There will not be any messages relating to AP sent via WhatsApp or other mobile app messaging platforms.
I don't want the AP cash payouts. What can I do with them?
Maybe you believe that there are others in Singapore who need the money more than you do.
Or maybe you are that stubborn to refuse cold hard cash.
Whatever the reason, the solution is this: Tax-deductible donations.
Donating your AP cash payouts to charity ensures that the money can go towards supporting those in need, while also letting you make some tax deductions.
As a bonus, you can currently enjoy tax deductions of up to 2.5 times the donation amount when you give to the Community Chest or any approved Institution of a Public Character.
The Community Chest, specifically, has launched a campaign to urge Singaporeans to donate their Assurance Package payouts, 100 per cent of which will be channelled into over 200 programmes that serve the vulnerable in our community.
Top images: HardwareZone, Singsaver.