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In September, over 2.4 million Singaporeans will receive S$200 to S$400 Special Payment in cash, as announced by the Ministry of Finance (MOF) in a press release on 13 Aug (Tue).
Singaporeans aged 21 and above with an assessable income of up to $100,000 and who own not more than one property will be eligible for the payout. Those whose assessable income is S$22,000 and below will receive S$400. If your assessable income is between S$22,000 to S$34,000, you will receive S$300. Others who earn more than S$34,000 and S$100,000 can expect to receive S$200.
This one-off Cost-of-Living (COL) Special Payment comes under Budget 2024’s Assurance Package. The government aims to ease the financial strain on households amidst inflation and higher living expenses, with more support for lower- to middle-income families.
Eligible recipients of the COL Special Payment will automatically receive their payments in September. You can look out for Singpass notifications which will be sent once the payments have been credited.
How and when will I receive the payment?
Since 2021, the MOF has been using PayNow-NRIC as the primary payment mode.
https://www.mof.gov.sg/news-publications/press-releases/more-than-2.4-million-singaporeans-to-receive-200-to-400-for-the-budget-2024-cost-of-living-(col)-special-payment-in-september
If you’d like to receive the payment early, do link your NRICs to PayNow through one of the 12 participating banks by 26 Aug. Those who do so can expect the cash benefits to be deposited as early as Sep 5. You can find the list of participating banks in Singapore at the end of this page.
For those who have not linked their NRICs to PayNow, but have bank accounts with DBS/POSB, OCBC, or UOB, there’s still an option to provide your bank details at the govbenefits website by 27 Aug. This ensures the Special Payment will be made via Giro from Sep 13.
Eligible citizens with neither PayNow-NRIC-linked bank accounts nor a valid bank account will receive their funds via GovCash from Sep 23.
To check if you are eligible to receive the Special Payment, you may log in to the govbenefits website with your Singpass.
