CPF issue: Retirement scheme fair and one of world's safest: DPM Tharman
Published on Jul 8, 2014 3:45 PM
SINGAPORE - The Central Provident Fund (CPF) scheme may not provide the highest returns, but the returns are fair, and also one of the safest in the world, said Deputy Prime Minister Tharman Shanmugaratnam in Parliament on Tuesday.
This is because CPF interest rates are pegged to comparable investments in the market, and are also guaranteed by the Government, he said, in a statement that explained how CPF monies are invested and why the interest rates are set where they are.
The questions had been asked by four MPs.
"The CPF is not a perfect retirement savings scheme, but it is among the better regarded internationally," he said.
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