In a significant move aimed at supporting its citizens, the Singaporean government has introduced a comprehensive Cost-of-Living (COL) support package, which is set to benefit approximately 2.5 million adult Singaporeans.
This one-off cash payout of up to $200, totalling S$1.1 billion, is scheduled to roll out in December 2023.
Additionally, all Singaporean households will receive S$200 in Community Development Council (CDC) vouchers, allowing them to make purchases at participating heartland merchants, hawkers, and supermarkets.
This is on top of the cash payout of up to $600 which is part of the existing Assurance Package (AP) cash payout.
Understanding the COL Package
The COL package, recently unveiled by Finance Minister Lawrence Wong on September 28, 2023, is designed to address the pressing issue of inflation that affects the everyday lives of Singaporeans. It includes a multi-pronged approach to alleviate financial stress and provide much-needed relief.
| Enhancements to Assurance Package | |
| Assurance Package (AP) Cash Special Payment | · Additional payment of up to $200 cash for 2.5 million eligible adult Singaporeans · This one-off special payment will be disbursed in December 2023, together with the existing AP Cash component. · In total, eligible adult Singaporeans will receive up to $800 cash in December 2023. · This will provide more support to lower- and middle-income adult Singaporeans.  |
| CDC Vouchers | · Additional $200 of CDC Vouchers for every Singaporean household in 2024. This will bring the total amount of CDC Vouchers to $500 for every Singaporean household in 2024 · The additional CDC vouchers will be allocated equally: $100 for spending at participating heartland merchants and hawkers, and $100 for spending at participating supermarkets. · The 2024 CDC Vouchers should be claimed digitally at go.gov.sg/cdcv from 3 January 2024 onwards. The vouchers can be claimed any time during their validity period. Those requiring further assistance can approach their nearest Community Centre/Club (CC). · The vouchers will expire in end-2024. |
| Additional Service & Conservancy Charges (S&CC) Rebate | · Additional one-off 0.5-month of S&CC rebate for 950,000 Singaporean HDB households · This will be disbursed in January 2024, together with the regular S&CC rebates. · This will, on average, fully offset the S&CC increase in the first year of increases for 1- to 4-room HDB flats and about 85% for larger HDB flats. |
| Additional U-Save Rebates to cushion impact of increases in carbon tax and water price | · Additional $20 per quarter of U-Save rebates from January 2024 to December 2025, or a total of $80 per year for 2 years, for 950,000 Singaporean HDB households · These rebates will be disbursed together with the regular U-Save rebates and will cushion the impact of the increases in carbon tax and water price in 2024 and 2025. · Over 2024–2025, the additional U-Save rebates will, on average, fully offset the increase in utility bills for 1- to 2-room HDB flats, about 80% of the increase in utility bills for 3- to 4-room HDB flats, and about 65% of the increase in utility bills for larger flats. |
| Public Transport-Related Measures | |
| Public Transport Subsidies | · Additional subsidies of about $300 million in 2024 to cover the deferred fare adjustment quantum of 15.6% that will be carried over to future fare review exercises as announced by the Public Transport Council on 18 September 2023 · This additional subsidy helps to moderate the fare increase and pay for higher costs of providing public transport services due to the continued increase in energy prices in 2022, core inflation, and strong wage growth. |
| Public Transport Vouchers (PTVs) | · PTVs worth $50 each for resident households with monthly household income per person of not more than $1,600 · The PTVs, which will be disbursed from end-December 2023, can be used to top up fare cards or buy Monthly Travel / Concession Passes. |