FARE REVIEW EXERCISE 2023
For this 2023 Fare Review Exercise (FRE), the fare formula output derived from the new fare adjustment formula is 12.0%, driven by the continued increase in energy prices, core inflation and strong wage growth in 2022. After adding the deferred fare quantum of 10.6% from the 2022 FRE, the maximum allowable fare adjustment quantum for the 2023 FRE is 22.6%.
To keep public transport fares affordable in this higher cost environment, PTC has decided against granting the full quantum. Instead, PTC will grant an overall fare increase of 7.0%, which is about a third, of the 22.6% maximum quantum. This is less than the 10.6% deferred from the 2022 FRE. PTC will defer the remaining 15.6%-points to future FREs. To cover this deferred fare adjustment quantum, PTC has requested the Government to provide an additional subsidy of about $300 million for this year’s FRE, which the Government has agreed to. This amount is higher than the additional subsidy of approximately $200 million that was provided after the 2022 FRE. The additional government subsidy will help to moderate the level of fare increase needed to keep pace with the higher cost of providing public transport while keeping fares affordable for commuters.
With this 7.0% fare adjustment, adult card fares will increase by 10 to 11 cents per journey. Adult cash fares, which are still accepted for bus rides, will increase by 20 cents. To better support vulnerable commuters, PTC has decided to implement a lower increase of 4 to 5 cents per journey for concession card fares while concessionary cash fares for bus rides will increase by 10 cents. About two million concession card holders will see a lower fare adjustment.
Public transport fare hike: Adults to pay 10 to 11 cents more per journey from 23 Dec 2023
The Public Transport Council, which regulates bus and train fares, has granted an overall increase of 7 per cent as part of the 2023 fare review exercise
The latest bus and train fare increases will more than double from last year's hike, which means adult commuters will pay 10 to 11 cents more per journey, the Public Transport Council (PTC) said on Monday (Sep 18). The PTC, which is the Singapore regulator for public transport fares, announced an overall fare increase of 7 per cent following the annual fare review exercise. The fare hikes will take effect on Dec 23.
The trend of sharper increases could potentially continue with the PTC again deferring a bulk of the fare adjustment quantum to future fare review exercises. This year's fare review exercise is the first under the new formula announced in April, which the PTC had said was aimed at keeping fares affordable and less volatile. As part of the review - conducted every five years - the fare formula was adjusted to include two fixed components to reduce swings in fare changes.
Adult card fares will increase by 10 cents for up to 4.2km and 11 cents for distances above that, while adult cash fares - used for bus rides - will increase by 20 cents. Adult monthly travel passes will remain at S$128. The 11-cent increase is the highest, according to the PTC, which pointed out that 2019 also saw a 7 per cent increase in fares, but from a lower base. A lower increase will be implemented for concession card fares for students, seniors, low-wage workers and people with disabilities. Fares in this category will go up by 4 to 5 cents per journey, depending on the distance travelled. Concessionary cash fares for bus rides will increase by 10 cents.
Bus, train fares to rise by up to 11 cents for adults; new $96 concession pass for low-wage workers
From 23 Dec 2023, public transport fares for adults who pay by card will climb by up to 11 cents, as the overall cost of bus and train rides goes up by 7 per cent. Adult card fares will increase by 10 cents for journeys of up to 4.2km and 11 cents for rides beyond 4.2km, the Public Transport Council (PTC) said on Monday after it concluded its yearly fare review exercise.
For example, the adult card fare for an MRT ride from Simei to Tanjong Pagar, which costs $1.85 now, will go up to $1.96. Concessionary fares for seniors, students, people with disabilities and low-wage workers who pay by card will go up by four cents for journeys of up to 4.2km and five cents for longer rides. About two million commuters, or half of Singaporeans, are in this group.
This year’s increase is the steepest since the hike in 2019, when fares also rose by 7 per cent. The 11-cent hike is also the highest on record. The PTC said fares could have gone up by 22.6 per cent in 2023 – the highest allowable increase since 1998, when the council began using formulas to set a cap on fare changes.
S'pore bus & train adult fares to go up by S$0.10-S$0.11 from 23 Dec 2023
From Dec. 23, 2023, adult fares for bus and train rides will go up by 10 to 11 cents, depending on the journey's distance. For journeys 4.2km or shorter, expect to pay S$0.10 more. For journeys longer than 4.2km, expect to pay S$0.11 more.
The fare increments were announced by the Public Transport Council (PTC) on Sep. 18 after the conclusion of its annual Fare Review Exercise (FRE). For concession fares enjoyed by students and seniors, the fare increase is capped at S$0.04 to S$0.05 and varies depending on the journey's distance. For journeys 4.2km or shorter, the increase will be S$0.04. For journeys longer than 4.2km, the increase will be S$0.05.
These adjustments apply to concession fares for lower-wage workers and persons with disabilities as well. There will be no changes to the price of adult monthly travel pass and the bus or train monthly concession passes. Adult cash fares, which are still accepted for bus rides, will increase by S$0.20. Concessionary cash fares for bus rides will increase by S$0.10. The new fare structure will take effect on Dec. 23, 2023.
