29 Feb '12, 1am

Singaporeans may not have enough CPF savings for retirement, MPs warn

Singapores may not have enough Central Provident Fund (CPF) savings for their retirement, MPs warned on Tuesday. About a quarter of the parliamentarians who spoke on the first day of the Budget debate flagged this issue, saying the Government should relook how CPF funds can be boosted. -- ST PHOTO: CAROLINE CHIA By Rachel Chang Singaporeans may not have enough Central Provident Fund (CPF) savings for their retirement, MPs warned on Tuesday. About a quarter of the parliamentarians who spoke on the first day of the Budget debate flagged this issue, saying the Government should relook how CPF funds can be boosted. Three said the elderly and low-wage workers have worryingly meagre CPF savings. Three others insisted that CPF contribution rates must rise for all Singaporeans over the long term. Background story LONG-TERM CPF PLAN 'CPF contributions have been cut three times, in ...

Full article: http://www.straitstimes.com/Parliament/Story/STIStory_771...

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