Investment Contributions to Singapore Government Budget
Investment income or return contributions from MAS, GIC, and Temasek help fund social initiatives that benefit Singaporeans.
In 2018, these contributions made up 18% of the Government’s overall revenue.
- Under the NII1 framework, up to 50% of the dividends from designated Fifth Schedule entities can be used for Government spending.
- Under the NIR2 framework, up to 50% of the expected long term returns from designated Fifth Schedule entities may be used for Government spending.
Click here to download the chart.
1 Under the Singapore Constitution, the reserves of Fifth Schedule entities are protected under the Reserves protection framework.
2 NII is Net Investment Income comprising actual dividends and interest income.
3 NIR is Net Investment Returns based on expected long term rate of return from net assets, less inflation.

How Singaporeans Benefit from Long Term Investment Returns
Long term investment returns from MAS, GIC, and Temasek have enhanced Singapore’s capability to support nationwide initiatives that benefit every citizen. These include the Pioneer Generation Package in 2014, and funding for programmes such as Edusave, the GST Voucher scheme, and the Community Silver Trust.