Press Releases

To help Singapore citizens cope with the increase of GST to 5% on 1 January 2004, the next lot of Economic Restructuring Shares (ERS) will be issued in January/February 2004. The Ministry of Finance advises Singaporeans to make sure the address on their Identity Card (NRIC) is correct so that they will get the right amount of Economic Restructuring Shares.

2. The CPF Board is sending letters and forms to eligible Singaporeans in late October 2003.

3. To be eligible, Singaporeans must be at least 21 years old on 31 December 2003, and must contribute at least $50 to their CPF account in the year 2003.

4. Those who contribute before 1 December 2003 will receive their ERS on 1 January 2004. Those who contribute during December 2003 will receive their ERS on 1 February 2004.

5. NRIC addresses can be updated at any Neighbourhood Police Post or Neighbourhood Police Centre, or at the Immigration & Checkpoints Authority (ICA) at ICA Building, 10 Kallang Road (next to Lavender MRT Station). Please see Annex for details.

MINISTRY OF FINANCE