Assurance Package 2024 Payout Date – Eligibility to get up to S$2250!

Singaporeans can receive S$700 to S$2250 cash payouts in the Assurance Package (AP) financial assistance. Singapore citizens can check the eligibility, payout date, payout amount, and other details of the AP cash here. 

Assurance Package 2024 Payout Date

The Singaporean government provides financial assistance to Singaporean households to combat the rising cost of living in the nation and cover their daily expenses. The government offers an assurance package cash payment to provide financial relief to Singaporeans. 

The adult-eligible Singaporeans can expect the payout under the AP Cash in December for 5 years from 2022. The payments will be disbursed based on your eligibility and assessable income for the previous year. According to reports, around 2.9 million Singaporeans will receive the benefit of AP Cash in 2024. 

In the 2024 Budget, the Singapore government increased the Assurance Package by $1.9 billion, which includes utility rebates, cash handouts, vouchers, and many more. The enhancement of the AP was made to help lower-income families with large families. 

S&CC Rebate 2024

The benefits under AP cover everything from your utilities, grocery bills, healthcare, and many other benefits. 

Scheme  Assurance Package 
Benefit  Cash
Country Singapore
Target Beneficiaries  Low-income Singapore households
Payout Date  December 2024
Official Website  https://supportgowhere.life.gov.sg/schemes/GST-CASH/assurance-package-ap-cash

Who will receive the Assurance Package 2024?

Singaporeans who meet the following eligibility requirements can receive the AP cash payments:

  • You must be a Singapore native with Singapore citizenship
  • Your age should be 21 or above in the 2025 year to receive the 2024 AP Cash. 
  • You must not own more than one property in Singapore. 
  • Your Assessable income (AI) must not exceed $100,000 for the previous years. 

How much can you expect from the Assurance Package 2024?

The eligible Singaporeans will receive the following payment in December 2024 based on their Assessable Income (AI) and property ownership:

Reference Year Assessable Income and own 0 and only 1 property Owns more than 1 property
Up to $34,000 Between $34,000 and $100,000 Above $100,000
2025  $600 $350 $200 $100

Your AP cash payment totals $700 and $2250 from 2022 to 2026 depending on your income threshold and property ownership, so always calculate your AP cash payments for the year based on the above distribution. 

The AP cash payment referenced to the 2027 year in Dec 2026 would decrease to $250 for household income up to $34,000, $150 for income between $34,000 and $100,000, and $100 for above $100,000 for people who own more than one property in Singapore. 

Assurance Package Cash Special Payment 

The government has also announced a one-off cash special payment for the people concerning the rising inflation in the country in September 2023. Singaporeans who meet the following eligibility requirements can receive the special cash payment:

  • Your age is 21 years and above in the reference year. 
  • Your AI for the assessment year 2024 does not exceed the income threshold of $100,000, and you do not own more than one property.

The recipients of the AP Cas would surely receive a one-off cash payment of up to $200 and $400 depending on their income threshold. The recipients will receive the AP Special Cash payment in September 2024. 

How to claim the Assurance Package 2024?

Eligible Singaporeans do not need to do anything to receive the AP Cash payments. According to the Singapore government guidelines, the government will process the payments automatically to the accounts of eligible Singapore households. 

The Singapore government will no longer issue cheques under the program, so the recipients have to link their NRIC to PayNow to receive the benefits earlier. According to the reports the Singaporeans received the AP cash payments on 5 December 2024 with their NRIC linked with PayNow. 

For the recipients who don’t have a bank account, their benefits will be processed by the government via GovCash by 22 December 2024. The recipients who have the bank accounts but have not linked their NRIC with your PayNow may receive the payments on 13 December 2024.  

The residents can check their payment status via their Singpass on the official IRA website about all the government benefits they receive from the government. Generally, the government will notify Singapore residents via their Singpass app inbox or SMS notifications about the upcoming government benefits payments, so the automatically eligible recipients will receive the notification from the government about their AP cash payment. 

How to link your NRIC with PaNow to receive early AP cash payments?

PayNow is a “secure funds transfer service” that lets Singaporeans get money directly into their bank accounts through FIN/NRIC or mobile numbers registered to their bank accounts. So, the government encourages all Singaporeans to link their NRIC with PayNow to receive the AP cash payments earlier. 

Singaporean residents can link their NRIC with PayNow  if they have an account in the following banks of Singapore:

  • DBS Bank/ POSB
  • MayBank
  • Bank of China
  • OCBC
  • RHB Bank
  • Trust Bank 
  • CIMB
  • UOB
  • Citibank
  • HSBC bank 
  • Standard Chartered Bank 
  • ICBC

Singaporeans can visit their respective bank’s official website for the specific details of the procedure to link their NRIC with PayNow. Every bank has a different method to link your NRIC and PayNow, so it’s better if you visit the official website. Singapore residents can also contact their bank directly via the toll-free number and request to link their PayNow-NRIC. 

The Singapore government continues to make efforts to support and improve the lifestyle of Singaporeans with rising inflations with Assurance Packages. The government has included many benefits in the AP, so make sure you check all benefits to manage your living expenses and provide your family with better facilities, utilities, and healthcare. 

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