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
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Singapore
Singapore hotels’ average room rate grows in March; tourist arrivals reach new post-Covid high
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Shanmugam, Vivian seek aggravated damages from Lee Hsien Yang over post on Ridout Road rentals
Singapore and Canada to enhance science and technology cooperation
Daily Debrief: What Happened Today (May 2)
US-China competition not the most worrying, lack of communication is: Gan Kim Yong