With the intention of helping Singaporeans stay afloat under an inflationary squeeze, the government has rolled out another round of cost of living payments, now between $200 and $400. The payout is slated for August 2025 and is among the many benefits on offer under the Assurance Package, to cushion daily expenses of middle- and lower-income earners.
Who Will Receive the Money
Those receiving more or less money depending on income level, till property ownership. A maximum payout of $400 will be given to Singaporeans aged 21 and above who have an annual assessable income of less than $34,000. Those earning between $34,001 and $100,000 will receive $200 or $300, depending on their income bands. A person is also disqualified if they: own more than one property and reside in Singapore upon payout.
Application Unnecessary for Most Citizens
For most eligible Singaporeans, an application is not required. Using data from past tax records and property ownership status, the government will assess whether a person qualifies or not. Several weeks before the payouts are to be distributed, notices confirming qualification and payout sums will be communicated via SMS or email.
How and When the Payment Will Be Made
Payments will be credited directly into recipients’ bank accounts via PayNow NRIC or linked accounts under MyInfo. For those yet to register a bank account, the government would notify them of the alternative methods for disbursement. The expected payout period is to commence in early August 2025.
Intended Use for the Support Package
The latest payout underscores the government’s wish for helping Singaporeans during trying times since food prices and utilities bills are on the rise. It is an operative support, catalyzing timely relief to affected citizens while not losing sight of the bigger vision of financial prudence.