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.
Eligible Singaporeans will be determined based on both Assessable Income for Year of Assessment 2016 and Annual Value of Home as at 31 December 2016.
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.
Citizens who have signed up for the GST voucher or any other government payout schemes will receive their GST voucher payouts automatically. There is still time (until 31 Dec 2017) for those who have not signed up yet, which can be done online or through forms available at community centres. Furthermore, those between the ages of 21 and 55, who have updated their mobile numbers via SingPass will receive a SMS informing of what they will be entitled. Those above age 56 will receive both SMS and letter in the mail.
Finally, MOF encourages all eligible citizens to select direct bank crediting as preferred mode of payment via the website, www.gstvoucher.gov.sg, as cheques will take about two weeks to process.