Cost of Living (COL) Special Payment
Cost-of-Living (COL) measures under Assurance Package
At Budget 2023, DPM and Minister for Finance announced a set of additional one-off support measures to Singaporeans to address immediate cost-of-living concerns in 2023, on top of the 2022 COL Special Payment. These comprise: (i) 2023 COL Special Payment, (ii) 2023 COL Seniors’ Bonus, (iii) 2023 COL U-Save Special Payment, and (iv) 2023 top-ups to Child Development Account, Edusave account and Post-Secondary Education Account.
2022 COL Special Payment (disbursed in Dec 2022)
You are eligible for the 2022 COL Special Payment, if:
- You are a Singaporean aged 21 years old or above in 2023
- Your Assessable Income (AI) for Year of Assessment (YA) 2022 is $100,000 or below; and
- You do not own more than one property.
| Assessable Income (AI) for Year of Assesment 2022 (YA2022) | Do not own more than one property | Own more than one property | |||
|---|---|---|---|---|---|
| AI ≤ $22,000 | $22,000 < AI ≤ $34,000 | $34,000 < AI ≤ $100,000 | AI > $100,000 | ||
| COL Special Payment |
$500 | $400 | $300 | - | - |
(i) 2023 COL Special Payment
You are eligible for the 2023 COL Special Payment, if:
- You are a Singaporean aged 21 years old or above in 2023
- Your Assessable Income (AI) for Year of Assessment (YA) 2022 is $100,000 or below; and
- You do not own more than one property.
| Assessable Income (AI) for Year of Assesment 2022 (YA2022) | Do not own more than one property | Own more than one property | |||
|---|---|---|---|---|---|
| AI ≤ $22,000 | $22,000 < AI ≤ $34,000 | $34,000 < AI ≤ $100,000 | AI > $100,000 | ||
| COL Special Payment |
$400 | $300 | $200 | - | - |
(ii) 2023 COL Seniors’ Bonus
You are eligible for the 2023 COL Seniors’ Bonus, if:
- You are a Singaporean aged 55 years old or above in 2023;
- Your Assessable Income (AI) for Year of Assessment (YA) 2022 is not more than $34,000;
- The Annual Value of your home (as indicated on your NRIC) must not exceed $21,000; and
- You do not own more than one property.
Age of Singaporean in 2023 |
Owns 0 to 1 property | |
|---|---|---|
| AI ≤ $34,000 | ||
| AV ≤ $13,000 | $13,000 < AV ≤ $21,000 | |
| 55 to 64 years |
$250 | $200 |
| 65 years and above |
$300 | $200 |
(iii) 2023 COL U-Save Special Payment
Together with the AP – U-Save disbursed in January 2023, eligible HDB households will receive double the amount of the regular GSTV – U-Save rebates, with the 2023 COL U-Save Special Payment.
| HDB Flat Type | January 2023 | April 2023 | July 2023 | October 2023 | Total U-Save for 2023 | ||||
| Regular U-Save | AP U-Save | Regular U-Save | COL U-Save | Regular U-Save | COL U-Save | Regular U-Save | COL U-Save | ||
| 1- and 2-room | $95 | $95 | $95 | $95 | $95 | $95 | $95 | $95 | $760 |
| 3-room | $85 | $85 | $85 | $85 | $85 | $85 | $85 | $85 | $680 |
| 4-room | $75 | $75 | $75 | $75 | $75 | $75 | $75 | $75 | $600 |
| 5-room | $65 | $65 | $65 | $65 | $65 | $65 | $65 | $65 | $520 |
| Executive / Multi-Generation | $55 | $55 | $55 | $55 | $55 | $55 | $55 | $55 | $440 |
Notes:
- Households whose members own more than one property are not eligible for GSTV – U-Save.
- Additional rebates will be credited to eligible households at the same time as their regular GSTV – U-Save in the usual four quarters (January 2023, April 2023, July 2023, and October 2023).
(iv) 2023 Top-up to Child Development Account (CDA), Edusave Account and Post-Secondary Education Account (PSEA)
Families will receive additional one-off support for their children’s expenses in 2023.
a. Each Singaporean child aged between 0 and 6 years will receive a one-off $400 top-up to the CDA.
b. Each Singaporean child aged between 7 and 16 years, and 17 and 20 years will receive a one-off $300 top-up to the Edusave account and PSEA respectively.
The one-off 2023 top-up to the Edusave account is in addition to the annual Edusave contribution by the Government.
Age of Singaporean in 2023 |
||||
|---|---|---|---|---|
| Date of Birth (Inclusive of both dates) |
Account Receiving Top-up |
Amount |
Estimated Timeline |
|
| 0 – 6 | Between 1 Jan 2017 and 31 Dec 2023 | CDA | $400 | From Sep 2023 |
| 7 – 16 | Between 1 Jan 2007 and 31 Dec 2016 | Edusave | $300 | May 2023 |
| 17 – 20 | Between 1 Jan 2003 and 31 Dec 2006 | PSEA | $300 | May 2023 |
Notes:
- Each Singaporean child will receive a one-off top-up to the relevant account, depending on his/her age and/or academic level.
- Children born on 1 January 2017 but who have started primary school in 2023 will receive the top-up in their Edusave accounts and not in their CDA.
- Those who are 16 years old and above in 2023 and studying in Government-funded post-secondary institutions (Junior Colleges or Millennia Institute) will receive the top-up in their PSEA.
- Those who are between 17 and 20 years old in 2023 but are studying in secondary schools will receive the top-up in their Edusave accounts.
- Children studying in Government-funded special education (SPED) schools will receive the top-up in their Edusave accounts, regardless of age. Other children with special needs but who are not studying in SPED schools will receive the top-up in the relevant accounts based on age.