Permits & Passes
Use ATMs to exchange your ERS for cash
who wish to exchange their Economic Restructuring
Shares (ERS) for cash will be able to give their
instructions using ATMs from late December this
year. The cash will be available from 1st
they need will be their normal ATM cards to give
the instruction on an ATM to exchange their ERS
for cash. The money will be put into their bank
accounts within four working days.
such as the participating banks and when the ATM
ERS service will start are being worked out. They
will be announced later.
who wish to exchange their ERS for cash can also
use the internet or send a form to the CPF Board.
Those who use the www.ers.org.sg
website will get their cash within four working
days. Those who use the form will get their cash
only in two to three weeks.
10th November 2002, about 317,000
Singaporeans still have not put at least $50 into
their CPF accounts to qualify for ERS. Those who
put in $50 by 30th November 2002 will
get their ERS on 1st January 2003.
Those who do it in December 2002 will get their
ERS on 1st February 2003.
should miss out on the ERS. Singaporeans with an
online banking account with DBS/POSB or UOB/OUB
can make the $50 contribution through the CPF
click on the ERS icon). Contributions can also be
made by cheque payable to ‘CPF Board’ and sent
to the CPF Board, at Robinson Road, P.O. Box 1243,
Singapore 902443, or through NETS or cash at CPF
Offices or Singapore Post Branches.
more information on the ERS, please visit the CPF
or call the ERS hotline at 1800-5-377-377
of Finance Release dated 13 Nov 2002
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