CHANGES TO THE CPF INVESTMENT SCHEME FROM 1 JANUARY 2007
News Release by: Central Provident Fund Board 29 December 2006 --
The Board would like to announce the following changes to the CPF Investment Scheme (CPFIS) which will take effect from 1 January 2007: SINGAPORE GOVERNMENT TREASURY BILLS CPF members will be allowed to use their Ordinary Account or Special Account savings to invest in Singapore Government Treasury Bills (T-Bills) from 1 January 2007. Those who wish to invest in T-Bills should approach the bond dealers1 included under the CPFIS. 1 The bond dealers included under the CPFIS are DBS, OCBC and UOB. FIXED DEPOSITS UNDER CPF INVESTMENT SCHEME – SPECIAL ACCOUNT (CPFIS-SA) Fixed Deposits under CPFIS-SA will be distributed to the estate of the deceased instead of the CPF nominee(s) upon the passing of the member from 1 January 2007. This treatment is similar to the other investments under the CPFIS. GOLD CPF Board will include Gold Exchange Traded Funds (ETFs) as a new product under the existing investment category of gold from 1 January 2007. The Gold ETFs will be subject to the existing investment limit for gold of 10%. Product providers will need to apply to the Board for evaluation for inclusion under CPFIS. PUBLIC ENQUIRIES For more details, please log on to www.cpf.gov.sg or call the CPF Call Centre at 1800 - 227 1188.