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Inflation figure for CPF Minimum Sum hikes under review: Tan Chuan-Jin

Published on Jul 22, 2014 2:33 PM
A man walks past the CPF Building along Robinson Road. -- PHOTO: ST FILE

The Government is looking at how it calculates the Central Provident Fund (CPF) Minimum Sum figure, and the amount by which it should go up every year based on inflation, said Manpower Minister Tan Chuan-Jin on Tuesday.

Currently, the CPF Minimum Sum is pegged to the Consumer Price Index, a measure of inflation.

This rate includes imputed rent, which is what home owners would pay if they were renting their homes.

Said Mr Tan: "In terms of computing our inflation rate, one of the things we're looking at is actually imputed rents...(this) is something that perhaps we may want to consider not including."

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