Latest news with #cashpayout
Arabian Business
3 days ago
- Business
- Arabian Business
UAE workers can now collect unemployment benefits at Al Ansari Exchange outlets
Al Ansari Exchange has launched a cash payout service for Involuntary Loss of Employment (ILOE) insurance claims in partnership with ILOE's Insurance Pool PSC. The service operates across more than 270 Al Ansari Exchange branches nationwide. The initiative forms part of Al Ansari Exchange's strategy to expand its portfolio of financial services, providing solutions for insured individuals under the ILOE scheme. ILOE insurance claims now available at 270+ Al Ansari Exchange branches across UAE The Ministry of Human Resources and Emiratisation (MoHRE) supervises the scheme, which offers cash compensation to eligible insured individuals for a period following unemployment. 'Providing accessible financial solutions to individuals across all segments of society is at the heart of our mission. This new cash payout service for ILOE claims ensures that beneficiaries receive timely support when they need it most, with the added convenience of our nationwide network,' Ali Al Najjar, Chief Operating Officer of Al Ansari Exchange said. Al Ansari Exchange previously served as one of the channels for premium collections under the ILOE scheme managed by ILOE Insurance Pool. The company now extends its services to allow customers to collect their claims payout in cash at any of its branches across the UAE. 'This service will provide an important additional channel for paying ILOE's claims, thus facilitating access to compensation for subscribers. This reflects the ILOE's Insurance Pool commitment to providing the highest quality standards for services in line with the government's directives,' Abdellatif Abuqurah, Chairman of ILOE's Insurance Pool added. Insured individuals must submit their claims within 30 days from the date of unemployment through the ILOE Scheme website, the ILOE mobile application, or by calling the ILOE call centre at 600599555. Customers can check the status of their claims through these channels to complete the process of receiving their compensation upon approval. The service supports the financial well-being of the workforce in the UAE, reinforcing Al Ansari Exchange's mission to deliver customer-centric solutions that respond to community needs.
Yahoo
07-07-2025
- Business
- Yahoo
Eligible S'poreans to get up to $850 in GSTV cash, up to $450 in MediSave top-ups in August
SINGAPORE – More than 1.5 million eligible Singaporean adults will receive up to $850 cash via the GST Voucher scheme, and about 690,000 seniors will receive up to $450 in MediSave top-ups in August. They will receive $850 in cash if they are 21 or older in 2025, have an assessable income of up to $39,000 in the latest assessment year, and own at most one property whose annual value is up to $21,000 in 2024. Those who meet this same age and income criteria but whose property's annual value is over $21,000 but no more than $31,000 will get $450 instead. Singaporeans who own more than one property are not eligible for the payout. Eligible recipients will automatically receive their payments via PayNow from Aug 6 if they have previously linked their NRIC to PayNow via their bank, the Ministry of Finance (MOF) said in a release on July 7. Those who opted for Giro will receive their payments from Aug 15, while those who chose GovCash will get theirs from Aug 22. They will also be notified via SMS after the benefits have been credited. Those who do not have a Singpass-registered mobile number will be informed through a letter sent to the address on their identity card. The permanent GST Voucher scheme was introduced by the Government in 2012 to help lower- and middle-income Singaporeans offset some of their GST expenses. The ministry said the assessable income threshold for this round of cash payouts was raised from $34,000 to $39,000 from August to maintain the coverage of the scheme, given that the incomes of these Singaporeans have improved. For the MediSave top-ups, the amount to be credited depends on the age of the person and the annual value of their property. The highest amount of $450 will be credited to those aged 85 or older in 2025 who own at most one property with an annual value of up to $21,000 in 2024. The top-ups will be automatically credited into their Central Provident Fund MediSave accounts from Aug 11. MOF said: 'A total of $1.5 billion will be disbursed under the GSTV – Cash and GSTV – MediSave schemes, as part of the permanent GST Voucher scheme this year. This is on top of the other support that Singaporeans will receive in financial year 2025.' The ministry added that the SMS notification from ' will inform Singaporeans only of their benefits. They will not be asked to reply to the message, click on any links or provide any information to the sender. Government officials will also never ask anyone to transfer money or reveal bank login details over the phone, MOF said. In February, Prime Minister Lawrence Wong unveiled a record $143.1 billion Budget that includes SG60 vouchers and a new round of CDC vouchers. He also said that he expected a surplus of $6.8 billion, or 0.9 per cent of the gross domestic product, for the 2025 financial year. Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
