| In July 2002, the Economic Review Committee (ERC) recommended that the Government facilitate the provision of low cost, privately-managed pension plans (PPPs) as an additional investment option under the CPF Investment Scheme (CPFIS). The purpose is to achieve economies of scale for investment of retirement funds and reduce members’ investment costs. It also aims to increase returns on members’ CPF balances.
The Central Provident Fund Board (CPF) will release a consultation paper on 6 January 2004 to seek views from interested parties on the proposed framework for PPPs.
This industry consultation is a follow-up to the public consultation held early last year. In January 2003, the Board and the Feedback Unit had sought public views and suggestions on PPPs through group discussions, surveys and written channels. Results from the feedback of about 2,500 persons showed that most respondents would consider longer term investments in PPPs under the CPFIS.
The consultation paper will be posted on the CPF website and Feedback Unit’s website (www.feedback.gov.sg) from 6 January to 15 February 2004. The Board will be holding two briefing sessions with industry players on 9 and 16 January 2004. The sessions are to allow industry players to make clarifications on the consultation paper, which will enable them to give better feedback on the proposed PPPs framework. All comments are to reach the CPF Board by 15 February 2004.
Please click here for the consultation paper. |