Extra $600 in CDC vouchers as part of $1.9b boost to Assurance Package

Lower-income families, those with seniors, young kids to get more help

- Chin Soo Fang

Singaporeans will get a mix of cash, vouchers and rebates under a $1.9 billion boost to the Assurance Package to help them cope with cost-of-living concerns and an uncertain economic outlook.

The aim is for lower-income families and larger households - especially those with seniors and children - to get more support, Deputy Prime Minister and Finance Minister Lawrence Wong said in his Budget speech in Parliament on Feb 16.

Among the enhancements are an additional $600 in Community Development Council (CDC) vouchers for about 1.4 million Singaporean households.

The first $300 will be disbursed in end-June in 2024, and the remaining $300 will be disbursed in January 2025.

Each tranche of the vouchers will be split equally for spending at participating merchants and hawkers, and supermarkets.

A Cost-of-Living Special Payment of between $200 and $400 in cash will be given to eligible Singaporeans in September 2024.

To qualify, people must be aged 21 and above in 2024, reside in Singapore, own not more than one property and have an assessable income of up to $100,000. This will benefit about 2.5 million adult Singaporeans.