Friday, Aug 22, 2014Friday, Aug 22, 2014
News
 

CPF should meet workers' retirement needs, with conditions: Study

Published on Nov 14, 2012 2:31 PM
 
Young Singaporeans who join the workforce today will have enough savings in their Central Provident Fund to finance their retirement, say two university professors -- ST PHOTO: CAROLINE CHIA

YOUNG Singaporeans who join the workforce today will have enough savings in their Central Provident Fund (CPF) to finance their retirement, say two university professors.

But this is provided they are prudent in their choice of homes, and use any CPF savings they withdraw wisely, say National University of Singapore professors Chia Ngee Choon and Albert Tsui.

They made these points in a Manpower Ministry-commissioned study on the adequacy of CPF savings, which was released on Wednesday.

"There is a very clear trade-off between retirement adequacy and housing consumption," said Prof Chia,

 
If you are not a subscriber, you can get instant, unlimited access here