, Singapore
509 views
Photo courtesy of Cris Tagupa.

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).

ALSO READ: Inflation prompts gov’t to provide $1.5b support package for vulnerable groups, businesses

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.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!