Updated: 02/22/2014 06:11

$360 million to help households especially low income and retirees to cope with cost of living



$360 million to help households especially low income and retirees to cope with cost of living

The government will provide $360 million of additional support to help households especially lower-income groups and retirees cope with their cost of living. 

There will be a special GST Voucher - Cash: Seniors' Bonus for Singaporeans aged 55 and above - effectively doubling the amount usually received. 

Finance Minister, Tharman Shanmugaratnam explains:. 

" Older Singaporeans are broadly most affected by increase in cost of living, especially retirees with little or no incomes."

The amount they will receive range from $100 to $250 depending on an assessable income of up to $26,000. 

Mr Tharman adds the additional cash will help them offset some of their daily expenses. 

Some 675 thousand Singaporeans stand to benefit from this. 

The government will also provide a one-off GST voucher - U-Save Special Payment this year. 

Some 800,000 HDB households will get an additional $90 to $260 depending on the type of flat they live in. 

All HDB households will also get one to three months of Service and Conservancy Charges rebates. 

Households from one to two room flats will get three-months; three to four room households, two months; five room households, 1.5 months, and those in executive flats, one month's rebate.

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