Singaporeans, rejoice! This December, about 2.9 million adults aged 21 and above will receive between S$200 and S$600 under the Assurance Package, aimed at easing the cost of living.
About the Assurance Package
The Assurance Package (AP) is designed to alleviate financial pressures for low- to middle-income families. The recent enhancements to this package, amounting to S$1.9 billion as per Budget 2024, are set to give eligible recipients even more support.
MediSave and Retirement Bonuses
- 1.4 million Singaporeans born between 1974 and 2003 will receive a one-time MediSave top-up of S$300 to S$500.
- 1.6 million older Singaporeans will get a MediSave bonus ranging from S$1,250 to S$2,000, depending on their birth year, home value, and property ownership.
- Additionally, around 800,000 citizens born in 1973 or earlier will receive a Retirement Savings Bonus up to S$1,500 based on their CPF retirement savings.
Eligibility Criteria
To qualify for these payouts, adult Singaporeans must have an annual assessable income of not more than S$100,000 and own not more than one property. Payments will be automatically credited in December, with recipients informed via SMS or letter, depending on their registered mobile information.
Checking Your Eligibility
Curious if you qualify? Singaporeans can easily check their eligibility by logging into the govbenefits website using their Singpass.