02 May '11, 1pm

GE: Credit hardworking civil servants, not PAP, says WP

GE: Credit hardworking civil servants, not PAP, says WP

SINGAPORE: Worker's Party's candidate for Aljunied Group Representation Constituency (GRC) Chen Show Mao has urged Singapore to follow recommendations by the World Bank to strengthen the CPF model and grow the people's money. "Inflation is close to five per cent... Does a 2.5 per cent interest rate on CPF represent a good return?" Mr Chen said. "After you use CPF for housing and other needs, will you have enough to retire when you reach 62 (years old)? "We suggest Singapore follows international best practices recommended by the World Bank and study the feasibility of a pension fund model to enhance the returns on our CPF monies." Meanwhile, Workers' Party's (WP) Koh Choong Yong, a candidate for the Sengkang West Single-Member Constituency (SMC) said credit for the planning of Singapore's constituencies should go to the hardworking civil servants, and not the ruling People...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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