Singapore supports citizens to tackle rising cost of living

Eligible Singaporeans will receive between 200 SGD (151.9 USD) and 400 SGD (303.7 USD) next month, as part of measures to help them cope with rising cost of living, Singapore’s Ministry of Finance (MoF) announced on August 13.

The scheme will apply to more than 2.4 million Singaporeans aged 21 and above in 2024, and is applicable to those whose assessable income is up to 100,000 SGD, it said, adding that those who own more than one property are not eligible for the payout.

Eligible recipients will be notified via their Singpass app in September.

To prevent scams, the MoF said it will send SMS notifications to inform citizens of their benefits. Citizens will not be asked to reply to the SMS, click any links or provide any information to the sender.

Singaporean Prime Minister Lawrence Wong, who is also Finance Minister, announced the Cost-of-Living Special Payment during Budget 2024 in February./.

VNA