The Central Provident Fund (CPF) Advisory Panel will be holding focus group discussions to gather views from members of the public about how the CPF can be made more flexible for people keen on private investment plans.

The potential reforms would cater to CPF members who are prepared to take on higher investment risks to improve their returns, the Ministry of Manpower said in a statement yesterday.

The CPF Advisory Panel was set up last September to look into enhancing key aspects of the CPF system and providing additional options in retirement.

Under the existing CPF Investment Scheme, members can invest in approved unit trusts and equity funds as well as other investment products such as stocks and shares.

However, the CPF Investment Scheme's annual profit and loss report released last month showed that most investors who use CPF savings to invest would have been better off leaving their money in their Ordinary accounts.

This is despite the good performance of investment funds included in the scheme. Experts said the gap could reflect a difference in financial knowledge, investment skills and discipline.

The CPF Advisory Panel said it will consider the feedback it gets in this latest exercise and submit recommendations later this year.

It put up recommendations in February on future adjustments to the Retirement Sum and the issue of lump sum withdrawals.

•More details of the focus group sessions are at www.cpfpanel.sg

The panel is also inviting the public to write in to cpf_panel@mom.gov.sg