SINGAPORE - A series of focus group discussions will be held over the next few months to gather views from the public on how to enhance the Central Provident Fund (CPF) system.
The feedback from the sessions will be used to help the CPF Advisory Panel, which has been charged with studying potential changes to the CPF system, better understand the needs of Singaporeans, said a Manpower Ministry statement on Sunday.
The discussions will zoom in on four key aspects of the CPF review. These are:
- How to adjust the Minimum Sum beyond 2015;
- How to enable members to withdraw more CPF savings as a lump sum upon retirement;
- How to provide an option for members who prefer CPF payouts that are initially lower but rise with time to help keep pace with inflation; and
- How to give more flexibility for members to use private instruments to supplement or replace the CPF Life annuity scheme.
Details of the sessions, including how to sign up, are available at www.cpfpanel.sg.
Members of the public are also welcome to provide feedback on the areas under study by emailing email@example.com.