Singapore Pools launches programme to help jackpot winners manage their newfound wealth

The crowd at the Singapore Pools main branch, at Middle Road, after the results for the Toto Hongbao Draw were announced, on Feb 19, 2016.
The crowd at the Singapore Pools main branch, at Middle Road, after the results for the Toto Hongbao Draw were announced, on Feb 19, 2016. ST PHOTO: DESMOND WEE

SINGAPORE - A new programme to educate lottery winners on how to manage their newfound wealth better was launched on Friday (March 4).

The Singapore Pools' Care for Winners programme targets those who have won prize money of $100,000 and above.

It replaces the Winners Wealth Management programme, which was introduced by the Singapore Pools in 2010.

The new programme consists of a kit that includes bilingual videos, brochures, posters, banners and standees. They were unveiled at the Singapore Pools Headquarters in Middle Road, together with the Monetary Authority of Singapore's MoneySENSE programme.

The Care for Winners programme aims to educate winners of large prize money on how to manage their winnings with care and planning.


A Care for Winners poster. PHOTO: SINGAPORE POOLS

Through the programme, prize winners will learn about staying debt-free, avoiding splurging away winnings, and fulfilling financial goals. In addition, prize winners are encouraged to invest their wealth wisely and consider sharing it with those in need.

Singapore Pools staff will also meet customers who have won prize money of $100,000 and above to share financial planning tips.

"It is our duty to care for our customers as a responsible gaming operator," said Mr Seah Chin Siong, Singapore Pools' chief executive officer.

Big lottery prizes have been in the news recently.

Just last month, two large jackpots were won in Toto draws organised by the Singapore Pools. A single winner won $9.5 million in the Toto draw on Feb 11, while the jackpot of $13.9 million was shared by two winners in the 2016 Toto Hong Bao Draw.