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3 August 2016
The CPF Advisory Panel was appointed by the Ministry of Manpower in September 2014 to study:
The Government has accepted Part Two of the Panel’s recommendations covering the last two terms of reference by introducing:
- A new CPF Life plan with escalating payouts to address increases in the cost of living.
- A new Lifetime Retirement Investment Scheme that is simple and low-fee.
The Panel’s recommendations aim to provide additional choices to cater to varying needs in retirement, while maintaining simplicity as a core design principle for the CPF system. The Ministry of Manpower and Central Provident Fund Board will work towards implementing the recommendations under Part Two in stages. Part One of the Panel’s recommendations, which were accepted by the Government in February 2015, have been implemented from January 2016.
Executive Summary of Part Two of the Panel’s Report (PDF, 0.3MB)