Starting in 2019, operationally-ready National Servicemen (NSmen) who get high marks on their Individual Physical Proficiency Test (IPPT) will receive their cash rewards immediately in their bank accounts via PayNow.
This was announced by Defence Minister Ng Eng Hen on October 4, Thursday.
It means that instead of having to wait for two weeks for the cash prizes to be credited to their accounts, NSmen will get them right away.
At the moment, the prizes are credited via Giro into bank account numbers the NSmen have given to the Ministry of Defence (MINDEF).
But by early 2019, pilot testing for the scheme will be done at Maju Fitness Conditioning Centre (FCC) at Maju Camp in Clementi and will be launched in Bedok, Khatib and Kranji FCCs by midyear.
The NS Portal Website will post the exact date of implementation.
Gold awardees will continue to receive S$ 500, silver awardees, S$ 300, and NSmen who rate a “Pass with Incentive” mark will be getting S$ 200.
Members of the national service will need to register for PayNow via their bank, and their PayNow account will be linked to their NRIC number. This must be done before the NSmen schedule and take the IPPT.
If they choose not to register, their cash prizes will still go through Giro.
Participating banks include Standard Chartered, OCBC, DBS Bank, UOB, and Maybank.