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News Release by:
Central Provident Fund Board
15 SEPTEMBER 2003 -- |
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As announced on 29 August 2000, the withdrawal of profits made on investments under CPF Investment Scheme – Ordinary Account (CPFIS-OA) and discounted Singapore Telecom (ST) shares will be phased out with effect from 1 October 2003. CPF members have up to 30 September 2003 to withdraw 50% of their outstanding accumulated realised profits calculated up to 30 September 2002. |
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No profit withdrawal will be allowed from 1 October 2003. Profits not withdrawn by 30 September 2003 will be retained in members’ Ordinary Accounts. The cessation of profit withdrawal is in line with the CPF Board’s objective of helping members to build up their retirement savings. |
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All profit withdrawal applications must reach the CPF Board (for members without CPF Investment Accounts) or their agent banks (for members with active investment accounts) by 30 September 2003. Any applications received after 30 September 2003 will not be processed. |
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For more information on withdrawal of profits, please log on to the CPF Board’s website at www.cpf.gov.sg. Those with investment accounts can check with their agent banks at the following numbers: |
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Agent Banks |
Telephone number |
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DBS Bank |
1800-535-5303
6535-6261 |
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OCBC Bank |
6783-5911 |
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UOB |
1800-538-8011
1800-538-8022
1800-538-8002 | |
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