Singapore – The Singapore government has announced a comprehensive assistance package to alleviate the cost of living and support lower- and middle-income households. Starting in December, approximately 2.9 million Singaporeans aged 21 and above will receive a one-time cash payout of between S$200 and S$600 as part of the Assurance Package (AP).

To be eligible, individuals must have an annual taxable income of S$100,000 or less and own no more than one property. Beneficiaries will receive the AP cash payout annually in December from 2022 to 2026.

Additionally, to offset rising healthcare costs and the increase in Medishield Life premiums, the Ministry of Finance, Ministry of Health, and Ministry of Manpower have announced further measures. Approximately 1.4 million Singaporeans born between 1974 and 2003 will receive a Medisave special payment of between S$300 and S$500 in December.

Under the Majulah Package, around 1.6 million Singaporeans born before 1973 will receive a Medisave bonus of either S$1,250 or S$2,000. The bonus amount will vary based on the individual's year of birth, annual value (AV) of their property, and property ownership status as of December 31, 2023.

As part of the Majulah Package, approximately 800,000 Singaporeans will receive a Special CPF Retirement Savings top-up of either S$1,000 or S$1,500. The bonus amount will depend on the individual's CPF retirement savings.

Eligible individuals will receive their payouts automatically starting in December. Singaporeans can log in to the govbenefits website to check their eligibility.

[ⓒ Global Economic Times. 무단전재-재배포 금지]