Public Transport Fare Review 2024

The Public Transport Fare Review Exercise (FRE) 2024 sees an overall 6.0% increase in bus and train fares with effect from 28th December 2024. Adult card fares for buses and trains are set to increase by 10 cents, while Concession card fares are set to increase by 4 cents.

Based on the current Public Transport Fare Adjustment Formula published by the Public Transport Council (PTC) in April 2023, the fare adjustment quantum generated by the formula is 3.3% for the 2024 FRE. Considering the deferred fare quantum of 15.6% from the 2023 FRE, the maximum allowable fare adjustment quantum to be considered for the 2024 FRE is 18.9%.

The PTC decided to grant an overall fare adjustment quantum of 6.0% to cushion commuters from the full fare increase, which is less than a third of the 18.9% maximum allowable quantum. This will reduce the deferred fare quantum to 12.9% (from 15.6%), which will be considered at future FREs.

This is done in PTC’s understanding that the cost of living remains a concern for Singaporeans, and moderation in cost increase is reflected by the lower fare formula output compared to FRE 2023.

The Government has agreed to provide an additional subsidy of about $250 million this coming year, on top of the annual $2 billion in operating subsidies provided for public transport, and the additional funding of up to $900 million over 8 years for the Bus Connectivity Enhancement Programme (BCEP). The additional Government subsidy will help to moderate the fare increase, while still accounting for the higher costs of providing public transport.

Extended Concession Period for Graduating Students

Currently, students in secondary schools, ITEs, junior colleges, polytechnics and other Government/Government-aided tertiary institutions pursuing a diploma, and those enrolled in eligible private educational institution courses pay student concessionary fares when travelling on public transport. Upon graduation, some may have to pay adult fares before they enrol in another school and are eligible for concessionary fares again.

Following deliberations, the Council decided that graduating students who are eligible for concessionary fares will continue to enjoy concessionary fares for an extended period of four months upon the end of their course of study. This will start with graduating students whose concession eligibility ends on or after 28 December 2024; and will apply to the entire group of graduating students – both those who are in between two education stages (e.g. N-level and O-Level students enrolling in ITE or polytechnics) and those transitioning out of student concession benefits (e.g. JC students who may enrol in university). This will help students and their families manage the transition out of or between concession schemes.

More details are in the extended section below.

The Fare Review At A Glance:

From 28th December 2024:

• Adults:
  Card fares to increase by 10 cents per journey.
  No change to Cash fares.
  
• Children below 7:
  No change in fares; free travel for all.
• Students:
  Card fares to increase by 4 cents per journey.
  No change to Cash fares.
• Senior Citizens:
  Card fares to increase by 4 cents per journey.
  No change to Cash fares.
• Persons with Disabilities / Workfare Transport Concession Cardholders:
  Card fares to increase by 4 cents per journey.
  No change to Cash fares.
• Monthly Concession Pass Holders:
  Adult Monthly Travel Pass – No Change
  Bus / Train Monthly Concession Passes – No Change
  Hybrid Monthly Concession Passes – No Change
  Workfare Transport Hybrid Monthly Concession Pass – No Change

Fare Adjustment Formula

The Public Transport Council (PTC) is a statutory board under the Ministry of Transport that regulates public transport fares. The board conducts annual Fare Review Exercises to adjust public transport fares, and new fares usually take effect in end-December.

The current Fare Adjustment Formula is as follows, and is applicable from 2023 to 2027:

Year 2024 Fare Adjustment Quantum = 0.5 cCPI + 0.4 WI + 0.1 EI – PC + C = 3.3%
Quantum carried over from the 2023 Exercise – 15.6%
FRE 2024 Maximum Allowable Fare Adjustment Quantum – 18.9%

The Fare Adjustment Formula is based on five components:

• Core Consumer Price Index (cCPI): Year-on-year change in core Consumer Price Index; 4.2% in 2023.
• Wage Index (WI): Year-on-year change in Wage Index measured by the Average Monthly Earnings (National Average); 5.3% in 2023.
• Energy Index (EI): Year-on-year change in Energy Index which is a composite index derived from diesel and electricity
  prices; -18.6% in 2023
• Productivity Contribution (PC): Set at 0.1%.
• Capacity Adjustment Factor (C): Based on actual and planned capacity improvements from 2020 to 2026; Set at 1.1%

Fare Adjustment Quantum granted for 2024: 6.0% (remaining 12.9% carried over to future FREs)

Highlights of Public Transport Operators’ Applications

SBS Transit Rail applied for a fare adjustment of 18.9%, citing cost pressures arising from inflation, elevated energy prices, and competitive labour market as key challenges, while full rail ridership recovery to pre-Covid levels remains uncertain due to an increase in Work-From-Home arrangements. In its latest financial year, SBS Transit’s train segment reported a loss of several million dollars, even with Government support.

SMRT Trains applied for a fare adjustment of 18.9%. The operator cited cost pressures from the slow recovery of public transport ridership due to hybrid work arrangements, elevated electricity costs, higher manpower costs to keep salaries competitive, the expected increase in repair and maintenance costs due to cyclical overhauls and equipment replacements, and escalation of material costs driven by higher labour and freight charges. For its latest financial year, SMRT Trains recorded an operating profit of $6.2 million, after taking into account Government support.

Fare Adjustments for Adults

Regular commuters paying adult fares via Card will see a 10-cent increase in bus and train card fares from 28 December 2024.

A consolidated list of new fares can be found on the PTC’s website.

Fare Adjustments for Concession Card holders:

Full-time students from Primary, Secondary and Tertiary institutions currently eligible for Student concession fares, Senior Citizens, Persons With Disabilities and Workfare Transport Concession cardholders will see a 4-cent increase in card fares for both bus and train from 28 December 2024.

A consolidated list of new fares can be found on the PTC’s website.

Monthly Concession Passes

Prices for all Monthly Concession Passes will remain unchanged.

Prices of Monthly Concession Passes from 23 Dec 2023:

Extension of Concession Period

Earlier this year, the Minister for Transport, Mr Chee Hong Tat requested that the PTC considered extending the concession period for graduating students, following feedback from parents and students.

Around 75,000 graduating students are expected to benefit from this change each year. To extend the validity of their concessionary cards, this year, eligible graduating students will need to tap their existing concessionary card at any ticketing machine located at MRT stations and bus interchanges or visit a ticketing counter from 1 October 2024.

The following groups of students who are eligible for student concession fares, with concession validity ending on or after 28 December 2024, will enjoy an extended period of 4 months of concession benefits after the end of their course of study:

• (i) MOE Secondary School students,
• (ii) Madrasah students,
• (iii) Junior College and Millenia Institute students,
• (iv) Institute of Technical Education (ITE) students (Secondary & Diploma),
• (v) Diploma students from government/government-aided tertiary institutions (e.g: polytechnics),
• (vi) Secondary and Diploma students from Private Education Institutions (PEIs) and
• (vii) Homeschoolers.

To enjoy the extension, this year’s graduating students whose concession validity will be ending on or after 28 December 2024 are required to extend their School Smart Card (SSC) / student concession card at any of the Ticketing Machines or Counters between 1 October 2024 and 31 December 2024.

Eligible students who are graduating in 2025 or later will be informed by their schools to extend their concession validity towards the end of their final year of study. For example, if a student’s course is ending in March 2025, he/she will be informed to extend his/her SSC / student concession card in January 2025.

Secondary 4 students progressing to Secondary 5 in 2025, as well as Secondary 4 students in the Integrated Programme in 2024, are required to extend their SSC from 1 October 2024 to 31 December 2024 to continue enjoying public transport concessionary fares. This is
similar to the practice for these students in previous years.

Students, including those who have activated the auto top-up function for their cards, will need to extend the concession validity of their SSC / student concession card at any of the Ticketing Machines or Counters (SimplyGo Kiosk, Top-Up Kiosk, Passenger Service Centre & Ticketing Service Centre / Ticket Office).

Students whose concession cards are not extended by 31 December 2024 can still do so after that, but will not be entitled for refunds if they have paid adult fares previously. The extended period will start from the end of their course of study.

PTC Posters

External Links & References:

• Fare Review Exercise 2024 – Public Transport Council

Past Fare Review Exercises:

• Public Transport Fare Review 2023
• Public Transport Fare Review 2022
• Public Transport Fare Review 2021
• Public Transport Fare Review 2020
• Public Transport Fare Review 2019
• Public Transport Fare Review 2018

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