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Investing CPF savings in private pension plans an option for future: DPM Tharman

Published on Jul 22, 2014 8:07 PM
 
Investing in private pension funds remains an option in future for CPF members who want to try and grow their savings, said Deputy Prime Minister Tharman Shanmugaratnam on Tuesday, July 22, 2014. -- PHOTO: LIM YAOHUI FOR THE STRAITS TIMES

SINGAPORE - Investing in private pension funds remains an option in future for CPF members who want to try and grow their savings, said Deputy Prime Minister Tharman Shanmugaratnam on Tuesday.

He acknowledged that the Government should look into how it can provide better ways for those who want to take higher risks to try and earn higher returns on their CPF savings.

Speaking at an Institute of Policy Studies forum on the Central Provident Fund and retirement adequacy, Mr Tharman said that the Government will ensure the CPF system continues to evolve so that it "adapts to new needs".

"We want to provide greater security in retirement, especially for lower-income Singaporeans. We want to help retirees meet their basic needs even as costs go up over time. And we want to help the current generation of older folk to unlock the value in their homes," he said.

 
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