Should the $26 million be paid as
bonus ERS and NSS ?
With the present scheme of handing out $16M in bonus NSS to 793,000
NSS holders, it will result in a dilution of the funds, with each
person getting an average of $20.
While the handout of $10M in ERS to 615,000 persons, will dilute
this large sum into $16.26 per person.
Will it not be more effective to apply this amount in the form of
'direct handout' - to assist institutions that are directly
assisting in the care of the Aged, the Infirmed, the Handicapped,
and to those facilities supporting those with Kidney, Heart and
other problems related to Old Age ?
$26m worth of
bonus ERS and NSS to be paid out
By Edna Koh
A TOTAL of $26 million worth of bonus shares will be credited on
Sunday into the accounts of holders of Economic Restructuring
Shares (ERS) and New Singapore Shares (NSS).
In all, 16 million bonus NSS will be credited to 793,000 NSS
holders.
As well, 10 million bonus ERS will be credited to 615,000
shareholders, said the Central Provident Fund Board on
Saturday.
This is the first time dividends in the form of bonus shares are
being paid out on the ERS, but it is the third time for the
NSS.
The number of bonus shares a person receives depend on the number
of NSS and ERS held as at Feb 15 this year and Dec 31 last year,
respectively.
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