Understanding the Special Discounted Shares Scheme
An asset enhancement programme to make Singapore a share-owning society.
Updates on 20 Apr 2021
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What is the Special Discounted Shares (SDS) Scheme?
The SDS scheme is part of the Government’s asset enhancement programme to make Singapore a share-owning society, giving Singaporeans a greater stake in the country.
Singaporean CPF members were able to buy discounted Singapore Telecom (Singtel) shares in 1993 (ST "A" shares) and 1996 (ST2 shares). Members who held on to their discounted Singtel shares were entitled to loyalty shares.
How to check your discounted Singtel shareholdings and dividends
Log in to my cpf digital services with your Singpass > Select my cpf > My dashboards > Investment
There are three ways to sell your discounted Singtel shares. Proceeds from the sale will be refunded to your CPF Ordinary Account (OA). You can apply to withdraw the proceeds from your OA if you’ve met your CPF withdrawal conditions.
Online sale facility
Log in to my cpf digital services with your Singpass > Select my cpf > My dashboards > Investment > Select “Sell your shares” under the Discounted Singtel shares section in the Investment dashboard.
You can sell your discounted Singtel shares at any SingPost branch. SingPost requires a minimum quantity of 10 shares and the following documents:
Your identity card; and
Your latest copy of CPF Statement of Account indicating number of discounted Singtel shares in your CPF account.
Singapore Exchange (SGX) broking firm
You can sell your discounted Singtel shares through your stockbroker if you have a trading account with them.
Withdraw your discounted Singtel shares upon reaching 55
Learn how to withdraw your discounted Singtel shares.
Who can withdraw
You can withdraw your discounted Singtel shares after setting aside the Full Retirement Sum (FRS) in your Retirement Account. The FRS can be set aside fully with cash, or with cash (i.e. at least the Basic Retirement Sum) and property.
What you’ll need
Your discounted Singtel shares will be transferred to your securities account with The Central Depository (Pte) Limited (‘CDP’). If you do not have a CDP securities account, you should apply to open one before withdrawing your discounted Singtel shares.
If you have set aside your FRS in your Retirement Account, you can log in to my cpf digital services with your Singpass > Select my cpf > My dashboards > Investment > Select “Withdraw your shares” under the Discounted Singtel shares section in the Investment dashboard.
Your application will generally be processed within 15 working days once we receive your application. Your discounted Singtel shares will be transferred to your CDP securities account. Withdrawal will not result in sale of your discounted Singtel shares.