The Straits Times School Pocket Money Fund (SPMF) will increase the monthly amount it gives to students from low-income families starting from January next year.

Students from primary and secondary schools will get $5 more a month, to $60 and $95 respectively. The SPMF, which helps students with school-related expenses, will disburse about $1 million more next year with this revision. Students from the Institute of Technical Education, junior colleges and polytechnics will continue to get $120 a month.

This was announced at the SPMF's annual appreciation and sharing day on Tuesday morning.

SPMF chairman Han Fook Kwang, who is also Singapore Press Holdings' English and Malay Newspapers Division managing editor, said: "We recognise that costs have gone up and the poorer families have a much harder time coping with these increases." Started in 2000, the fund has since disbursed $33.9m to help 116,500 students.