MOF to dole out $890m in GST vouchers, Medisave top-ups to 1.5m Singaporeans in 2016

Some Pioneers may receive up to $1,250 in top-ups.

About 1.54m Singaporeans stand to benefit from the latest roll-out of GST vouchers and Medisave top-ups in 2016. According to an announcement by the Ministry of Finance (MOF), the vouchers and top-ups amount to roughly $890m.

MOF reports that around 1.3m eligible Singaporeans will receive up to $300 in GSTV-Cash. Additionally, a one-off GSTC-Cash Special Payment of up to $200 will be doled out to support households amid current economic conditions.

This adds up to $500 in cash for eligible GSTV recipients in 2016, which will be disbursed in two payments in August and November this year.

Meanwhile, about 425,000 Singaporeans aged 65 years and above will enjoy the GSTV-Medisave of up to $450 in August 2016.

On top of this, Singaporeans aged 57 years and above this year who do not receive Pioneer Generation (PG) benefits will receive a Medisave top-up of up to $200 each year until 2018. For this year, the top-up will also be made in August.

Non-Pioneers aged 65 in 2016 and living in an HDB flat and own no second property is looking at $450 of Medisave top-ups this year.

Further, provided they do not own a second property, Pioneers aged 70 in 2016 who are living in an HDB flat will see up to $450 of Medisave top-ups, while Pioneers aged 85 in 2016 will receive up to $1,250 in top-ups.