Press Releases

Grassroots leaders will start visiting Singaporeans in 1-room and 2-room HDB flats and welfare homes from this week. They will call on residents who had not applied for their Economic Restructuring Shares (ERS) and hand them Special ERS Forms which carry their names and NRIC numbers. The grassroots leaders will also consider helping those with financial difficulties make the $50 CPF contribution.

Singaporeans in 1-room and 2-room HDB flats and welfare homes who have not got the ERS will need these Special ERS Forms to make the $50 CPF contribution and qualify for the ERS extension.

The Special Forms will include an option to make sure the residents will also get their future lots of ERS. If they sign up, the CPF Board will channel $50 into their CPF accounts if they exchange their ERS for cash this year. This $50 top up will qualify them for the second lot of ERS in January 2004. The CPF Board will also channel another $50 into their CPF accounts if they exchange their ERS for cash in 2004. This will qualify them for the third lot of ERS in January 2005.

Those with the Special ERS Form can make the $50 CPF contribution either:

- By mail, i.e. send the Special ERS Form together with a cheque for $50, made payable to 'CPF Board' and sent to the CPF Board, at Robinson Road, P.O. Box 637, Singapore 901237; or

- Personally at any CPF Board office, with the Special ERS Form.

The final date for the $50 CPF contribution is 31 March 2003. The ERS will be issued on 1 May 2003.

For more information on the ERS, please visit the ERS website (www.ers.org.sg) or call the ERS hotline at 1800-5-377-377 (1800-5-ERS-ERS).

MINISTRY OF FINANCE