In 2025, the Singapore government has announced a significant financial assistance measure in the form of a $760 Cost of Living (COL) Payment to support eligible citizens amid ongoing inflationary pressures. This initiative is part of the broader Assurance Package, aimed at helping lower- and middle-income households manage rising daily expenses.
Purpose of the COL Payment
The $760 Cost of Living Payment is designed to alleviate the burden of increased living expenses, particularly for households feeling the pinch of higher prices in essentials such as food, utilities, and healthcare.
The government recognizes the ongoing cost-of-living challenges and has committed to delivering direct financial support to ensure no Singaporean is left behind during this period of economic adjustment.
Who is Eligible for the $760 Payment?
To qualify for the 2025 COL Payment, individuals must meet several criteria. The payment targets adult Singaporeans who meet income and residency requirements. Specifically, eligible recipients must:
- Be aged 21 years or above in 2025.
- Have an annual assessable income not exceeding a specified threshold, commonly around $100,000.
- Not own more than one property.
These criteria are aimed at ensuring the funds reach those who are most affected by inflation and who need government support the most.
Payment Schedule and Disbursement
The $760 Cost of Living Payment will be disbursed in two tranches over the course of 2025. The government aims to provide the first portion of the payout in January 2025, with the second installment expected around mid-year, likely in July 2025.
The payments will be credited directly to recipients’ PayNow-NRIC linked bank accounts. Individuals who do not have this linkage will receive notifications to update their bank details or will receive payments via alternative government channels such as GovCash or cheques, though these methods may experience delays.
How to Check Eligibility and Payment Status
Eligible citizens can check their COL Payment status through the official government website or the LifeSG app, which provides real-time updates on payout schedules and amounts. Notifications will also be sent via SMS or email to those who qualify, depending on the contact details registered with government services.
Those unsure of their eligibility are encouraged to log in using their Singpass to verify their status and update any outdated income or property ownership records that might affect their qualification.
Broader Impact of the Assurance Package
The $760 COL Payment is part of the Assurance Package announced in the national Budget to cushion the impact of the Goods and Services Tax (GST) hike and rising prices. Alongside this payment, the government is also providing other forms of support including CDC vouchers, utility rebates, and Medisave top-ups.
These collective efforts reflect Singapore’s ongoing commitment to social support and fiscal responsibility, ensuring that assistance is targeted and effective without compromising long-term economic sustainability.
What to Do If You Haven’t Received the Payment
If you believe you are eligible but have not received your payment by the expected disbursement dates, you should first verify your PayNow-NRIC status and ensure your contact and income details are accurate in the system. You can then reach out to the Ministry of Finance or the relevant agency via their helpline or website to file a formal enquiry.