If you’re a Singaporean then this is a good news for you as there would 2.8 million Singaporeans will be receiving letters informing them of the amount of SG Bonus they will receive from the Government.
Wondering how come government is giving out the bonus? Here is what mentioned by the Ministry of Finance:
“The Government will be giving a one-off SG Bonus to all adult Singaporeans this year. This reflects the Government’s long-standing commitment to share the fruits of the country’s development with Singaporeans.”
There would be a total of $700 million will be disbursed to Singaporeans 21 and above as of Dec. 31 2018.
Here is a breakdown of what you will be receiving and this SG bonus is depending on your annual income.
The next question from you would be when will we receive it? Well, this depends on how you would like to receive payment as there are different payout of different payment
Government is also encouraging the people to register their NRIC on PayNow by 7 November 2018 to receive their SG Bonus earlier and you can do so via their bank’s mobile banking or Internet banking platforms.
Last note is that the the letter is expected to be received from Oct. 2 onwards
If you need further details, you can check out the SG Bonus website or the SG Cares mobile app.