{"id":7982,"date":"2023-04-26T13:42:46","date_gmt":"2023-04-26T05:42:46","guid":{"rendered":"https:\/\/daily.sg\/?p=7982"},"modified":"2023-04-26T14:28:19","modified_gmt":"2023-04-26T06:28:19","slug":"new-public-transport-fare-formula-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/daily.sg\/2023\/04\/new-public-transport-fare-formula-what-you-need-to-know\/","title":{"rendered":"New Public Transport Fare Formula: What You Need to Know?"},"content":{"rendered":"\n<ul>\n<li><strong>New public transport fare formula aims to reduce fare volatility.<\/strong><\/li>\n\n\n\n<li><strong>Focus on the affordability &amp; sustainability of public transport.<\/strong><\/li>\n\n\n\n<li><strong>Updated formula &amp; mechanism to ensure better rides and affordable fares.<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe loading=\"lazy\" title=\"New Public Transport Fare Formula - What You Need to Know (Apr 26 2023)\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/zyYzanBPVhk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p>Public transport fare adjustments got you scratching your head?&nbsp;<\/p>\n\n\n\n<p>No worries, lah. Let&#8217;s break it down, Singapore style!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">New Fare Adjustment Formula Explained, Ah?<\/h2>\n\n\n\n<p>You see, the <a href=\"https:\/\/www.ptc.gov.sg\" target=\"_blank\" rel=\"noopener\" title=\"\">Public Transport Council (PTC)<\/a> got this new formula for adjusting bus &amp; MRT fares from 2023 to 2027.&nbsp;<\/p>\n\n\n\n<p>It looks like this:&nbsp;<strong>0.5 cCPI + 0.4 WI + 0.1 EI &#8211; PC + C<\/strong><\/p>\n\n\n\n<p>A bit cheem, right? I know.&nbsp;<\/p>\n\n\n\n<p>But don&#8217;t worry. I&#8217;ll break it down for you.&nbsp;<\/p>\n\n\n\n<p>So, the&nbsp;<strong>cCPI, WI, and EI<\/strong>&nbsp;are still there, like before.&nbsp;<\/p>\n\n\n\n<p>They are about costs, wages, and energy prices.&nbsp;<\/p>\n\n\n\n<p>But now, they got this new thing called&nbsp;<strong>Productivity Contribution (PC)<\/strong>, fixed at 0.1% for the next 5 years.&nbsp;<\/p>\n\n\n\n<p>This is to keep public transport operators motivated to improve productivity.<\/p>\n\n\n\n<p>And then, they replace the Network Capacity Factor (NCF) with a&nbsp;<strong>Capacity Adjustment Factor (C)<\/strong>, fixed at 1.1% for the next 5 years.&nbsp;<\/p>\n\n\n\n<p>It&#8217;s based on the actual &amp; planned capacity improvements from 2020 to 2026.<\/p>\n\n\n\n<p>This new formula is to make things more stable and affordable.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What Does This Mean for Us Commuters?<\/h2>\n\n\n\n<p>Good news lah!&nbsp;<\/p>\n\n\n\n<p>With this new formula, our public transport fares will not change as much as they used to.&nbsp;<\/p>\n\n\n\n<p>It&#8217;s like riding a bus without all the sudden jerks and stops; you get what I mean? \ud83d\ude09<\/p>\n\n\n\n<p>Plus, they are trying to ensure the public transport system stays in business.&nbsp;<\/p>\n\n\n\n<p>So that they won&#8217;t disappear on us as some contractors did during HDB BTO construction works.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Deferred Fare Adjustment Mechanism: What&#8217;s That?<\/h2>\n\n\n\n<p>This one also quite important.&nbsp;<\/p>\n\n\n\n<p>The PTC can hold back the fare adjustments to later years if they think the current situation is bad for us.&nbsp;<\/p>\n\n\n\n<p>Examples are during the COVID-19 pandemic or when energy prices go up too much.&nbsp;<\/p>\n\n\n\n<p>So it&#8217;s like a backup plan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Actionable &amp; Practical Takeaways<\/h2>\n\n\n\n<ul>\n<li>Know how the new fare adjustment formula affects your monthly transport spending.<\/li>\n\n\n\n<li>Appreciate the efforts to make bus &amp; MRT fares more stable and affordable.<\/li>\n\n\n\n<li>Consider buying <a href=\"https:\/\/www.transitlink.com.sg\/concession-cards\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Concession Cards<\/a> or <a href=\"https:\/\/www.transitlink.com.sg\/adult-monthly-travel-card\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Monthly Passes<\/a>.<\/li>\n<\/ul>\n\n\n\n<p>Now you know more about the new public transport fare adjustment formula and how it affects you, right?&nbsp;<\/p>\n\n\n\n<p>Hopefully, it all makes sense to you now, and you can ride the bus and MRT without worrying too much about those fares.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Still Not sure?<\/h2>\n\n\n\n<p>Here are<strong> 4 infographics from PTC<\/strong> to help you understand the changes.<\/p>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"728\" height=\"728\" data-id=\"7992\" src=\"https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-1-1024x1024.jpg\" alt=\"\" class=\"wp-image-7992\" srcset=\"https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-1-scaled.jpg 728w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-1-300x300.jpg 300w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-1-150x150.jpg 150w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-1-192x192.jpg 192w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-1-384x384.jpg 384w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-1-110x110.jpg 110w, 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class=\"wp-element-caption\">#image_title<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"728\" height=\"728\" data-id=\"7993\" src=\"https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-1024x1024.jpg\" alt=\"\" class=\"wp-image-7993\" srcset=\"https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-scaled.jpg 728w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-300x300.jpg 300w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-150x150.jpg 150w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-192x192.jpg 192w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-384x384.jpg 384w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-110x110.jpg 110w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-220x220.jpg 220w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-561x561.jpg 561w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-265x265.jpg 265w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-531x531.jpg 531w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-364x364.jpg 364w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-608x608.jpg 608w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-440x440.jpg 440w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-48x48.jpg 48w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-96x96.jpg 96w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-311x311.jpg 311w, https:\/\/daily.sg\/wp-content\/uploads\/2023\/04\/Public-Transport-Fare-Adjustment-Part-4-313x313.jpg 313w\" sizes=\"(max-width: 728px) 100vw, 728px\" \/><figcaption class=\"wp-element-caption\">#image_title<\/figcaption><\/figure>\n<\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Get ready for a fun and simple explanation of Singapore&#8217;s new public transport fare adjustment formula and how it affects you?<\/p>\n","protected":false},"author":8,"featured_media":7997,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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