"In view of the good economic performance last year and the positive outlook, I have decided to share part of these surpluses with Singaporeans this year…I will distribute Growth Dividends to all adult citizens."

- Prime Minister Lee Hsien Loong,
  Budget Statement 2006

Growth Dividends share part of the government's surplus with Singaporeans. All adult Singaporeans will receive Growth Dividends. Those who earn less or live in smaller homes will receive more Growth Dividends.

Who can receive Growth Dividends?
To receive Growth Dividends, you must:

  • Be a Singapore citizen,
  • Be aged 21 years or above as of 31 December 2005; and
  • Sign up for the Progress Package by 31 December 2006.

How much Growth Dividends can I receive?

The amount of Growth Dividends you can receive depends on the following:
(i) the Annual Value of your home in 2005 as assessed by IRAS (based on your NRIC address as of 31 December 2005); and
(ii) Your Assessable Income for the Year of Assessment 2005 (income earned in calendar year 2004 as assessed by IRAS).

  Annual Value of Home $6,000 or less Annual Value of Home more than $6,000 and up to $10,000 Annual Value of Home more than $10,000
Annual Assessable Income $24,000 or less
Annual Assessable Income more than $24,000
Note: Annual Value of $10,000 or less covers about 90% of households. It includes all HDB flats (other than a few very large units), as well as smaller private homes.

Calendar of important dates

Late March 2006 to
1 April 2006
Singaporeans receive notification letters from the CPF Board, informing them of their Progress Package.
1 April 2006 Singaporeans can sign up for their Progress Package through ATMs, website and hard copy forms.
15 April 2006 Deadline to sign up using hard copy sign-up forms to receive Progress Package on 1 May 2006.
25 April 2006 Deadline to sign up using ATMs and website to receive Progress Package on 1 May 2006.
1 May 2006 Singaporeans who have signed up by the above deadlines (15 and 25 April 2006) receive their Progress Package.
31 May 2006 ATM sign-up option closes. Singaporeans can use the website and hard copy forms to sign up until 31 December 2006.
31 December 2006 Last day to sign up for Progress Package.

Copyright© 2006. All rights reserved. Central Provident Fund Board