Here comes the mail: 1.6 million Singaporeans to receive 2014 budget benefits

Be on the lookout until Friday.

The Ministry of Finance (MOF) announced today that 1.6 million Singaporeans will be receiving letters in the coming week, informing them of their 2014 GSTV Special Payments, the 5-year Medisave top-up, as well as the Service and Conservancy Charges (S&CC) rebates.

1.3 million will receive the GSTV - Cash on 1 Aug, while 660,000 Singaporeans aged 55 and above will receive the GSTV - Cash: Seniors’ Bonus, meaning seniors will get double the GSTV - Cash amoun in 2014. According to MOF, the Seniors’ Bonus will cost the Government $505 million.

On the other hand, 380,000 Singaporeans aged 65 and above will receive the GSTV - Medisave top-up on 1 Aug, costing the Government $115 million.

The regular GST Voucher - U-Save is given out quarterly. Special payments will be given out in July 2014 and January 2015. Both of these payments will offset utilities directly and cost $290 million in total. In the coming month, 800,000 households will receive $90 to $195 each in rebates, depending on flat type.

View the press release here.