SINGAPORE — Around 615,000 Singaporeans aged 50 and above are in for a surprise windfall should they be holders of Singtel special discounted shares (SDS).

The Central Provident Fund (CPF) (Amendment) Bill was introduced in Parliament on April 7 to enable the proposed transfer of Singtel SDS from holders' CPF accounts to their Central Depository (CDP) accounts, enabling them to hold the shares under their own name, and manage the shares directly.