1.5 million Singaporeans to receive $1.5b in August
Each eligible citizen will receive S$700.
Singapore is giving a total of S$700 in cash to 1.5 million citizens in August under a $1.5b package aimed at helping them cope with higher inflation.
The package comprises regular GSTV – Cash and the GSTV – Cash Special payment, as announced by Deputy Prime Minister Lawrence Wong in June, according to the Ministry of Finance (MOF).
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The regular GSTV – Cash payment has also been enhanced, as announced in Budget 2022. Compared to last year, the regular GSTV – Cash payout is $100 higher. The Assessable Income eligibility threshold has also been expanded, to benefit more Singaporeans, the MOF added.
About 575,000 eligible Singaporean adults aged 65 and above in 2022 will also receive up to $450 in August, credited to their CPF MediSave Accounts.
Apart from the GSTV payments, Singaporeans born on or before 31 December 1969 and not already receiving Pioneer Generation or Merdeka Generation benefits will each be credited S$100 into their CPF MediSave Account at the end-August 2022.
The government said that lower-income and elderly Singaporeans can expect further support in the form of cash payouts, utilities credits, and S&CC rebates in the coming months.