Dinesh Vasu Dash on Central Provident Fund (Amendment) Bill

The Singtel Special Discounted Shares (Singtel SDS) scheme has achieved its objective, as CPF members who purchased them have made significant gains. Hence, the Central Provident Fund (Amendment) Bill will update a legacy arrangement by transferring Singtel SDS from the CPF Board to the individual or designated CDP accounts of SDS holders. This allows those who prefer to keep their Singtel SDS to manage their shares directly. Minister of State for Manpower Dinesh Vasu Dash, who highlighted the key features of the bill in parliament on Thursday (May 7), also outlined the options available. For those who prefer to keep their Singtel SDS, the shares will be automatically transferred to the CDP accounts. The transfer is planned for November 2026. Those who prefer not to retain their Singtel SDS may sell them and receive the sale proceeds either in their CPF Ordinary Account or in cash. SDS holders have ample time - of around seven months to decide. Those who do not wish to make a decision now will still have the option to sell at any point in future.