Some Singaporeans see their Assurance Package payouts ahead of schedule, with early disbursements for OCBC clients.

Singaporeans have started receiving early payouts from the Assurance Package (AP), with OCBC bank customers among the first to see the funds reflected in their accounts. The Ministry of Finance (MOF) had announced in November that adult Singaporeans would receive between S$200 and S$800 in cash from the AP Cash and AP Cash Special Payment by December 5.

The AP is designed to help Singaporeans manage the effects of inflation and mitigate the impact of the Goods and Services Tax (GST) increase. It includes cash payouts, rebates, CDC vouchers, and MediSave top-ups, with the total amount dependent on an individual’s income and property ownership.

This is the second year that OCBC clients have been among the first to receive their payouts, with many posting screenshots of their early deposits on social media platforms like HardwareZone. Other banks, including DBS/POSB and UOB, began issuing the payments later in the day.

The Assurance Package was enhanced as part of the national Budget to help offset rising living costs. Deputy Prime Minister and Finance Minister Lawrence Wong stated that the package would address the additional financial strain caused by the GST hike for most Singaporean households, with lower-income groups receiving extended support. This year, the package has been further boosted by a $1.1 billion Cost-of-Living (COL) Support Package.

In total, over S$10 billion will be distributed through the Assurance Package, with nearly 2.9 million Singaporeans aged 21 and above receiving up to S$600 in AP Cash. Around 2.5 million will also get an additional S$200 in the Special Payment.