SINGAPORE — A series of focus group discussions for members of the public to share their views on enhancements to the Central Provident Fund (CPF) will be held over the next few months by the CPF Advisory Panel.
The discussions will focus on four areas. This includes how to adjust the Minimum Sum beyond next year to deliver a basic monthly retirement payout for life, as well as how to enable CPF members to withdraw a higher lump sum upon retirement.
The focus groups will also explore views on how to provide an option for members who prefer lower CPF payouts that rise with time to help with increases in the cost of living and how to provide more investment flexibility for members.
Prime Minister Lee Hsien Loong announced during his National Day Rally Speech in August that a CPF Advisory Panel would be formed to study improvements to some key aspects of the CPF system to meet Singaporeans’ needs and provide additional options for retirement. More details of the sessions, such as the dates and how to sign up, are available at www.cpfpanel.sg.
news source & image credit: todayonline.com