From the first week of July, 1.6 million Singaporeans will receive letters to inform them of their 2015 GST Voucher (GSTV) benefits, as well as other budget benefits such as the 5- Year Medisave top-up and the Service and Conservancy Charges (S&CC) rebates.
GSTV – Cash (1.3 million Singaporeans)
In Budget 2015, the Government announced a permanent increase of $50 in the annual GST Voucher – Cash quantum to help lower-income households with their cost of living. Eligible Singaporeans will receive up to $300 in GST Voucher – Cash in 2015. (This excludes the GSTV – Seniors’ Bonus.) About 1.3 million Singaporeans will receive the GSTV – Cash on 1 August 2015.
Eligible Singaporeans will receive up to $300 in GST Voucher – Cash in 2015. (This excludes the GSTV – Seniors’ Bonus.)
About 1.3 million Singaporeans will receive the GSTV – Cash on 1 August 2015.
One-off GSTV – Seniors’ Bonus (660,000 older Singaporeans)
In addition, a GSTV – Seniors’ Bonus will be provided to the many older Singaporeans to help them with their daily expenses. This comes on top of the GSTV – Cash, and will benefit more than 660,000 older Singaporeans.
- Eligible seniors aged 55 – 64 years can receive up to $300 GSTV – Seniors’ Bonus
- Eligible seniors aged 65 years and above can receive up to $600 GSTV – Seniors’ Bonus
Including the GSTV – Cash component, this means that eligible older seniors aged 65 years and above1 will receive a total of $900 in cash in 2015, which will be disbursed in two tranches: $600 in August 2015 and $300 in November 2015.
The GSTV – Seniors’ Bonus is being provided for 2015. In the meantime, the details and implementation are being worked out for the permanent Silver Support scheme, which will begin next year.
GSTV – Medisave (400,000 Singaporeans)
About 400,000 Singaporeans aged 65 years and above will also receive the GSTV – Medisave of up to $450 on 1 August 2015.
Living in homes with annual values up to $13,000 (i.e. mostly HDB flats)
Additional Medisave top-ups on top of the GSTV Scheme
In addition to the GSTV – Medisave, most seniors can receive additional Medisave top-ups:
Pioneer Generation Medisave Top-Up. For Pioneers, the amount of Pioneer Generation Medisave top-up ranges from $200 to $800 annually. The examples below illustrate the total Medisave top-up that our Pioneers could receive.
5-Year Medisave Top-Up Scheme. Singaporeans born on or before 31 Dec 1959 (i.e. aged 56 years and above in 2015), who do not enjoy Pioneer Generation benefits, will receive Medisave top-ups of $100 or $200 annually from 2014 to 2018, as announced in Budget 2014. This will benefit about 528,000 Singaporeans. The vast majority (i.e. those living in HDB flats who do not own more than one property) will get the higher top-up of $200 a year.
GSTV – U-Save (800,000 households)
The regular GST Voucher – U-Save is given out quarterly to help offset utilities directly, and costs $180 million annually. This July, over 800,000 eligible households will each
This July, over 800,000 eligible households will each receive up to $65, depending on their HDB flat type.
One-off Service & Conservancy Charges (S&CC) rebate (800,000 households)
The S&CC rebate is given out in April, July, and October this year, and costs $80 million in 2015. This July, around 800,000 eligible households will receive the S&CC rebate which will offset half a month to one month of charges, depending on their HDB flat type.