About 850,000 seniors will receive up to $700 in payouts. Read more at straitstimes.com.
SINGAPORE – About 2.5 million Singaporeans will receive a special payment in June that provides relief to the cost of living for Singaporean households, as part of efforts to help them cope with inflation and cushion the impact of the higher goods and services tax rate.
Among the 2.5 million eligible Singaporeans, some 850,000 seniors will receive an additional sum of up to $300 under the 2023 COL Seniors’ Bonus for additional cost-of-living support. The COL Special Payment and COL Seniors’ Bonus are one-off support measures given to Singaporeans as part of an enhanced Assurance Package, which was announced at Budget 2023 by Deputy Prime Minister and Finance Minister Lawrence Wong.
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