CPF recognised as robust internationally: DPM Tharman
Published on Jun 21, 2014 11:39 PM
SINGAPORE - Deputy Prime Minister Tharman Shanmugaratnam defended the Central Provident Fund (CPF) yesterday, saying it is recognised internationally as a robust and sustainable system.
"We've provided a guarantee and a very fair rate of return that is not easy to beat in the market," said Mr Tharman, who is also Finance Minister. "The difference in our case is that we take risk away from the ordinary citizen.
"If you're wealthy, you're well-off and you know how to manage a large amount of finances, then that's a different matter.
"But experience has shown in the United States, Europe and United Kingdom that for most people, it's not wise to put too much investment risk on them."
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