5,000 prisoners stand to gain from latest tranche of ERS sha
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SINGAPORE : About 200,000 Singaporeans have still not topped up their CPF accounts with $50 to qualify for the third and final lot of Economic Restructuring Shares.
However the government is helping some 5,000 - who may find it difficult to do so - to qualify for the shares.
They may be behind bars but that will not stop them from sharing in the country's economic pie, through the ERS.
The Singapore Prison Service has taken steps to create a greater awareness about the ERS scheme amongst the prisoners.
In particular it has held one on one regular dialogues with the prisoners to urge them to encourage their family members and friends to top up their CPF accounts for them so that they too can benefit from the ERS.
6,000 prisoners have already qualified for the ERS, as they meet the criteria of having at least $50 in their CPF accounts.
But another 5,000 may need extra help.
So the CPF board will do the same as what it did for the elderly, to make it easier for prisoners to qualify for the ERS.
They only have to transfer $50 from their ERS to their CPF accounts.
They won't need to come up with the cash upfront.
"When we heard about the scheme, we were very appreciative. In fact we shouted with joy. Some of us have been locked up for a long time, it will come in handy when we go back to society. Slowly we will get back to society," said Lee, an inmate at the Changi Prison.
Another feloow inmate Ramli said: "At least we can use the money for something when we are released. I never ask the government or the family, so I budget myself and find a job."
So the prison inmates have been putting their thumbprints on the ERS forms.
But there are nearly 200,000 people who still have not done anything to gain from the current lot of shares.
"Singaporeans have a tendency to want to wait till the last minute. So you see long queues forming outside the CPF Board over the last few days," said Han Kok Juan, director of Social & Security Programmes in the Finance Ministry.
They'll have until 31st December to do so. - CNA -
Are they giving to those that are in for life sentence?
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Erm, still can take out when they die right? After they put into the will... at least family members get to gain.Originally posted by sbst275:Are they giving to those that are in for life sentence?
Not quite sure if inmates can sell the shares while in prison, will be quite interesting.
"Eh Alan, help me sell 500 lots of Creative"
"Yes boss"