Budget 2024: S$200 in LifeSG credits for 1.2 million NSmen

THE government will provide S$200 in LifeSG credits to some 1.2 million past and present national servicemen (NSmen), including to those enlisting in 2024.

The move, which will cost the government S$240 million, is part of efforts to express appreciation and gratitude to Singapore’s NSmen and their families, Finance Minister Lawrence Wong said in his Budget speech in Parliament on Friday (Feb 16).

The announcement follows the S$100 in digital credits that were given to NSmen in July 2022’s NS55 Recognition Package.

“We owe a huge debt to our national servicemen, who have served faithfully, and made immeasurable sacrifices for our peace and security,” he said, adding that national service remains the backbone of Singapore’s defence and security.

The LifeSG credits – which can be spent at over 100,000 online and physical merchants accepting PayNow, UEN QR or Nets QR – will be disbursed in November 2024 and are valid for one year from the date of issue. Those eligible will be notified via SMS.

For more of BT’s Budget 2024 coverage, go to bt.sg/budget24