Louis Ng on Central Provident Fund (Amendment) Bill
Will CPF interest rates be reviewed soon, in an environment of higher rates? How will the Government ensure that new citizens and Permanent Residents (PRs) have enough retirement funds as, depending on their age when they take up citizenship or PR status, they may not have enough CPF savings? With a proposed change to the timeline for computation of accounts upon the death of a CPF member, will notification be made automatically to the CPF Board on the day a death is reported and is there any risk of adverse effects to the accounts? MP Louis Ng asked these questions in Parliament on Monday (Nov 6).
Will CPF interest rates be reviewed soon, in an environment of higher rates? How will the Government ensure that new citizens and Permanent Residents (PRs) have enough retirement funds as, depending on their age when they take up citizenship or PR status, they may not have enough CPF savings? With a proposed change to the timeline for computation of accounts upon the death of a CPF member, will notification be made automatically to the CPF Board on the day a death is reported and is there any risk of adverse effects to the accounts? MP Louis Ng asked these questions in Parliament on Monday (Nov 6).
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