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Questions and more questions on CPF at dialogue session

Many at dialogue seek more transparency on how Minimum Sum is derived

Published on Jun 15, 2014 8:29 AM
The Central Provident Fund (CPF) building on Robinson Road. -- ST PHOTO: MALCOLM MCLEOD

From Parliament to Hong Lim Park, the Central Provident Fund (CPF) scheme has been closely scrutinised in recent weeks, and a dialogue yesterday showed that there are still many questions on the minds of Singaporeans.

About 120 people - from the retired to those who have just started work - turned up for a spirited three-hour session with Mr Hri Kumar Nair, an MP for Bishan-Toa Payoh GRC.

The volley of questions and concerns rarely faltered, and most centred on the Minimum Sum, and the monthly payouts during retirement.

They asked for more transparency on how these are determined, and why the Minimum Sum is rising. The Minimum Sum will increase from $148,000 to $155,000 next month.

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