Keep CPF schemes simple

 The reader may even have to engage a financial consultant just to understand the details of the various CPF schemes.
The reader may even have to engage a financial consultant just to understand the details of the various CPF schemes. PHOTO: ST FILE

In a recent article, Invest editor Lorna Tan provided a whole broad range of information regarding the various Central Provident Fund schemes (Revisit your CPF options to get the best out of them; Jan 27).

The details of the schemes are confusing and tough to comprehend. I may even have to engage a financial consultant just to understand the details of the various CPF schemes.

I would never have imagined that a simple system started more than half a century ago could become so complex.

When there are mixed objectives, the outcomes can be perplexing for ordinary folks.

I urge the authorities to keep it simple.

Parsimony is the key to effective public administration.

Thomas Lee Hock Seng (Dr)

A version of this article appeared in the print edition of The Straits Times on January 30, 2019, with the headline 'Keep CPF schemes simple'. Print Edition | Subscribe