SINGAPORE: About 1.57 million eligible Singaporeans will get S$1.2 billion in GST vouchers and Medisave top-ups, the Ministry of Finance (MOF) said on Tuesday (Jun 27).
A total of 1.37 million citizens will receive up to S$500 cash, comprising a payment of up to S$300 in August and a one-off special payment in November. This will cost the Government S$680 million, the ministry said.
About 450,000 Singaporeans aged 65 years and above will receive a Medisave top-up of up to S$450 in August. This will cost the Government S$130 million.
In addition, Singaporeans born on or before Dec 31, 1959 and do not receive Pioneer Generation benefits will receive a Medisave top-up of up to S$200 in 2017 and 2018. The top-up for 2017 will benefit about 520,000 citizens, and cost about S$95 million. It will be credited into eligible citizens’ Medisave accounts in August.
Pioneers will also receive Medisave top-ups of S$200 to S$800 in July.
During Budget 2017, the Government announced it will increase the U-save rebate component of the GST vouchers by between S$40 and S$120 annually from July to help households offset the hike in water prices.
Most citizens will automatically receive their GST voucher payouts if they had signed up for the GST voucher or any other government payout scheme in the past, MOF said.
For those who have not signed up before, they have until Dec 31 to sign up online, or using a hard-copy form that can be obtained from community centres.
Eligible recipients aged between 21 and 55, and have updated their mobile numbers on SingPass, will be notified of the benefits they are entitled to via SMS. Those aged 56 and above will receive both SMS notifications and notification letters, MOF said.
The ministry also encouraged eligible citizens to log in and update their payment mode to direct bank crediting at www.gstvoucher.gov.sg if they have not already done so, as cheque payments will take two weeks.