- Singapore Press Holdings
Technology sure helps speed things up.
The Straits Times reported that from early next year, the incentives awarded to operationally-ready national servicemen (NSmen) who do well for their Individual Physical Proficiency Test (IPPT) will be immediately credited to their bank accounts via PayNow, Defence Minister Ng Eng Hen announced on Thursday (Oct 4).
They will not face the usual wait of around two weeks to receive their cash prizes. Currently, the money is credited through Giro into the bank account number that they had provided to Ministry of Defence (MINDEF).
The scheme will be piloted at Maju Fitness Conditioning Centre (FCC) at Maju Camp in Clementi early next year before launching in Bedok, Khatib and Kranji FCCs by the middle of the year. The exact launch dates will be released on the NS Portal website.
Like before, gold-awardees will receive S$500, silver-awardees will receive S$300 and those who fall under ‘Pass with Incentive’ will receive S$200, according to the NS Portal website.
To receive money via PayNow, an NSman has to register for PayNow with his preferred bank and link his PayNow account to his NRIC number, before booking and taking his test.
NSmen who do not register will continue to receive their awards through Giro.
PayNow is currently available for customers of nine participating banks, including DBS Bank, OCBC, UOB, Maybank and Standard Chartered.