Singapore is providing much-needed financial relief to citizens starting April 30, 2025, as part of its Assurance Package. The government has announced a $490 Cost of Living Boost, aimed at cushioning the impact of rising expenses and the recent Goods and Services Tax (GST) hike. The initiative, announced under Budget 2025, targets lower- to middle-income Singaporeans, with no application required.

Let’s break down who qualifies, how the payments are structured, and what you need to do to receive them.

What Is the $490 Cost of Living Boost?

This cash support is part of Singapore’s Assurance Package, a comprehensive program rolled out to help citizens manage inflationary pressures. The package comprises:

• $400 in cash support
• $90 in Community Development Council (CDC) Vouchers

The cash payout will be credited directly via PayNow-NRIC, and for citizens without bank accounts, the government will disburse it through GovCash.

✅ Key Date: Payments begin April 30, 2025

Who Is Eligible?

To receive the $490 boost, Singaporeans must meet all of the following conditions:

• Be a Singapore citizen
• Be 21 years or older in 2025
• Have an assessable income of $100,000 or less for the Year of Assessment 2023
• Own no more than one residential property

Eligibility is automatically assessed using government records—no manual application is required.

🔗 Check your eligibility directly at Singapore’s official portal:
https://www.go.gov.sg/assurancepackage

How Will You Receive the Money?

There are two primary modes of disbursement:

1. Cash via PayNow-NRIC

If your bank account is linked to PayNow with your NRIC, the $400 will be deposited directly into your account.

2. GovCash for Unbanked Individuals

For citizens without bank accounts, the payment will be made via GovCash, which can be accessed through OCBC ATMs using your Singpass.

3. $90 CDC Vouchers

The additional $90 in CDC Vouchers will be sent either via SMS or physical mail. These vouchers can be used at participating hawker stalls, supermarkets, and local shops.

🔗 To view participating merchants and voucher redemption steps, visit the CDC Vouchers site:
https://vouchers.cdc.gov.sg

What If You Don’t Receive It?

The Ministry of Finance has stated that all eligible individuals should receive the payment by the end of the month. If you don’t receive yours:

• Confirm your PayNow-NRIC linkage with your bank.
• Ensure your contact information is up to date on government portals.
• Call the Assurance Package hotline at 1800-222-0000 (Monday–Friday, 8 AM–5 PM).

Additional Support Under Budget 2025

The $490 payment is part of a larger suite of measures announced in the government’s 2025 budget, aimed at tackling the rising cost of living:

• Additional $800 in CDC Vouchers per household: $500 in May 2025, $300 in January 2026
• U-Save Rebates: Up to $760 per year for eligible HDB households to offset utilities
• Commemorative Vouchers: Between $600–$800 for citizens aged 21 and above, and seniors aged 60+
• Income Tax Rebate: 60% rebate for individuals (capped at $200)

🔗 For a full breakdown of Singapore Budget 2025 measures, visit:
https://www.mof.gov.sg/singaporebudget

Why This Boost Matters

This payout comes at a time when many Singaporeans are facing rising costs for essentials such as food, transportation, and electricity. The Assurance Package, alongside targeted tax rebates and voucher schemes, provides a layered safety net to ensure that citizens, especially those in lower-income groups, can sustain their livelihoods.

The Singapore government has reiterated its commitment to inclusive support policies and long-term financial planning to help citizens weather global economic challenges.

Final Checklist

Before April 30, make sure you:

• ✅ Link PayNow to NRIC with your bank
• ✅ Check your eligibility at go.gov.sg/assurancepackage
• ✅ Keep your Singpass and contact info updated
• ✅ Use your CDC Vouchers before expiry

This article has been carefully fact-checked by our editorial team to ensure accuracy and eliminate any misleading information. We are committed to maintaining the highest standards of integrity in our content.