“I would also like to introduce a new scheme to help
especially less well-off Singaporeans. I intend to give you shares
which pay a guaranteed dividend for a fixed number of years, plus bonus
payments when the economy does well. These shares will also be redeemable immediately for cash, but not all at once. I will call this scheme
'New Singapore' Shares.”


- Prime Minister,
Mr Goh Chok Tong,
National Day Rally 2001, 19 August 2001.

In August 2001, then-Prime Minister, Mr Goh Chok Tong announced that eligible Singaporeans would be given between $200 and $1,700 worth of New Singapore Shares (NSS). The shares, each worth $1, are non-tradeable and non-transferable. Depending on when the qualifying criteria were met, the shares were issued on 1 November 2001, 1 December 2001 or 15 January 2002.

Dividends on your outstanding balances will be paid in the form of bonus shares every 1 March from Year 2002 to 2006 with the final dividends credited on 1 March 2007. The rate is guaranteed at a minimum of 3% per annum. An extra dividend, where applicable, is declared yearly, equal to the real GDP growth rate (if positive) of the previous calendar year. Dividends will cease if one is no longer a living Singapore citizen.

Crediting Date
Dividend Rate (%)
Balance as at
1 Mar 2002
1
15 Feb 2002
1 Mar 2003
5.2
15 Feb 2003
1 Mar 2004
4.1
15 Feb 2004
1 Mar 2005
11.4
15 Feb 2005
1 Mar 2006
9.4
15 Feb 2006
1 Mar 2007
10.9
15 Feb 2007

After the final round of dividends is credited on 1 March 2007, all outstanding NSS will automatically be exchanged for cash at $1 each and paid out to beneficiaries.

The CPFB will send all beneficiaries with un-encashed NSS notification letters on 10 March 2007.

All beneficiaries do not need to take any action. As a beneficiary, you will have your NSS automatically paid into your most recent valid bank account used to receive payment for NSS or the Progress Package, on 15 April 2007.

If you do not have a valid PP or NSS bank account, you also will not need to take any action as cheques will be issued and sent to you on 15 April 2007. However, if you wish to receive the NSS payment in a bank account, you can indicate your bank account at www.nss.gov.sg or return a completed form (available at all Community Centres/Clubs, Community Development Councils and CPF Service Centres) to the CPF Board by 1 April 2007.

If you have a valid PP or NSS bank account, but wish to receive NSS payment in a different bank account, you can provide a different bank account at www.nss.gov.sg or return a completed form (available at Community Centres/Clubs, Community Development Councils and CPF Service Centres) to the CPF Board by 1 April 2007.

Latest NSS Press Release: 10.9% Bonus for ERS & NSS.

Calendar of Events

Year 2007
1 March 2007 Sixth (and final) dividend payment, for period from 1 March 2006 to 28 February 2007.
All outstanding NSS will be exchanged for cash automatically.
10 March 2007 Mailing of notification letters to all remaining beneficiaries who have not fully encashed their NSS, informing them of their allotment and how they can receive it.
1 April 2007 Singaporeans to give alternative bank account details if they have a valid NSS or Progress Package bank account but wish to have their NSS paid into a different bank account; or do not have a valid NSS or Progress Package bank account and do not wish to receive a cheque.
15 April 2007 Automatic payment of remaining NSS balance
(i) into PP or NSS bank accounts, for those beneficiaries who did not indicate that they wanted their NSS paid into a different bank account and
(ii) by an NSS cheque, for those who did not indicate that they wanted their NSS paid into a bank account or for those who do not have a valid NSS or PP bank account.
30 September 2007 Last day to encash NSS cheques, after which the NSS cheque monies will be transferred to the individual’s CPF OA.
31 October 2007 Closure of NSS.
 


2008 Government of Singapore