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Jan 9, 2009
Cpf scheme has worked well <!--10 min-->
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The CPF scheme has served Singaporeans well. The CPF savings are wholly invested in Special Singapore Government Securities, which are risk-free and provide a steady return. In boom times, CPF members have sometimes complained that this approach yields too low returns. But in the current unstable financial markets, I believe many are relieved that the Government has been prudent rather than adventurous with their retirement nest-eggs.
Separately, we are in the midst of incorporating an annuity in the CPF scheme, which will provide a steady stream of income starting at 65, for life. Called the Lifelong Income For the Elderly (or CPF Life), this is an additional layer of financial security to support Singaporeans as they age.'
PM Lee Hsien Loong on how the CPF scheme helps Singaporeans save for retirement
Jan 9, 2009
Cpf scheme has worked well <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr valign="bottom"> <td width="330">
</td> <td width="10">
The CPF scheme has served Singaporeans well. The CPF savings are wholly invested in Special Singapore Government Securities, which are risk-free and provide a steady return. In boom times, CPF members have sometimes complained that this approach yields too low returns. But in the current unstable financial markets, I believe many are relieved that the Government has been prudent rather than adventurous with their retirement nest-eggs.
Separately, we are in the midst of incorporating an annuity in the CPF scheme, which will provide a steady stream of income starting at 65, for life. Called the Lifelong Income For the Elderly (or CPF Life), this is an additional layer of financial security to support Singaporeans as they age.'
PM Lee Hsien Loong on how the CPF scheme helps Singaporeans save for retirement
