Singapore people during weekends
Reuters

The Ministry of Finance (MOF) stated that a total of S$1.7 million Singapore residents will benefit from S$1 billion in GST vouchers (GSTV) and MediSave top-ups in the upcoming months.

In a statement, MOF said on Wednesday, June 26, that Singaporeans, who are eligible for this GST vouchers will receive text messages or letters informing them of their benefits by July 5 and people can expect to receive these benefits from July to November.

Most of the eligible Singaporeans will automatically receive their GSTV payouts if they have signed up for the GSTV or any other government payout scheme earlier.

Singaporeans, who belong to the Pioneer Generation and Merdeka Generation will receive the benefits in July and about 1.4 million eligible people will receive up to S$300 in GSTV in August.

In the same month almost 520,000 Singaporeans aged 65 and above in 2019 will receive up to $450 each for their Medisave accounts.

The news release also included that citizens born on or before December 31, 1969 (50 years and above in 2018) and don't receive benefits for the Pioneer or Merdeka Generations, will get an annual MediSave top-up S$ 100 between 2019 and 2023, credited into their Medisave accounts in August this year. This top-up will benefit almost 570,000 Singaporeans in 2019 and cost S$57 million.

MOF stated that while a Merdeka Generation senior aged 65 this year, living in an HDB flat will receive S$450 of MediSave top-ups, a Pioneer aged 85 this year and a resident of HDB flat will receive S$1,250 of MediSave top-ups.

Citizens aged 21 and above in 2019, can also receive a GSTV, which includes Cash (Bicentennial Payment) of up to S$300 from November 2019.