Press Release 15 Nov 2022

Up to 2.9 million adult Singaporeans will receive Assurance Package Cash and Cost-of-Living (COL) Special Payment in December 2022

Dear Editors,

            The Assurance Package (AP) for GST will cushion the impact of the GST rate increase for all Singaporeans. The package comprises cash payouts, Community Development Council (CDC) vouchers, additional GST Voucher (GSTV) – U-Save, and MediSave top-ups. These amounts will be disbursed over five years, from December 2022.

2          About 2.9 million adult Singaporeans will receive up to $200 in AP Cash in December 2022, with about 2.5m eligible adults receiving both Assurance Package Cash and COL Special Payment totalling up to $700.

3          Other benefits under the Assurance Package will be disbursed in In January 2023 and February 2023:

  • In January 2023, eligible HDB households will receive additional GST Voucher (GSTV) – U-Save of up to $95 to offset utilities bills. This is on top of the regular GSTV – U-Save under the permanent GSTV scheme of up to $95 for eligible HDB households.
  •  In January 2023, every Singaporean household will receive a total of $300 CDC Vouchers.
  • In February 2023, lower-income senior Singaporeans will receive up to $300 cash, under the GSTV – Cash (Seniors’ Bonus).
  •  In February 2023, eligible seniors aged 55 years and above, and children aged 20 years and below will receive $150 in their CPF MediSave Account under the AP MediSave.

4          MOF’s statement is attached for immediate reporting, please. You may also wish to refer to the attached infographics and the list of media interviewees listing the household support that they may receive.

Thank you.

Ministry of Finance