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Central Provident Fund (CPF) Board officially launched the Community Paying it Forward movement today, in conjunction with the International Pay It Forward Day. This movement galvanises Singaporeans from all walks of life to pay it forward by inspiring people around them to make the most of their CPF and be better prepared for retirement. Minister for Manpower Mrs Josephine Teo graced the launch event.
Minister Teo said, “The Community Paying it Forward movement is driven by a diverse group of Singaporeans, who have been sharing on the benefits of CPF with people around them. This is a good sign, as more Singaporeans will be able to plan, build up their retirement adequacy, and enjoy the full benefits of CPF. I encourage more individuals and organisations to join this movement, and pay it forward.”
CPF Board Chief Executive Officer Mr Augustin Lee shared, “The idea for this movement came about because there are many fans of CPF out there who discovered the benefits of CPF later in life and wished that they had known about them much earlier. This CPFV mobile app equips them with basic knowledge about CPF and allows them to pay it forward. It exemplifies the Singapore Together movement, where citizens own, shape and act on our shared future.”
The movement is not limited to individual volunteers. The National Trades Union Congress (NTUC), with over 5,000 union and community leaders as well as over 900,000 members, has come onboard as one of the early partners of this movement.
“After our union leaders attended CPF Board’s engagement session on this programme where they also shared some common misperceptions about CPF, our union leaders are keen to sign up as volunteers and help spread the correct information about CPF. More importantly, explain how CPF plays an important role in retirement adequacy which is something that many people do not think about until they hit their early fifties. With NTUC’s vast network which includes youth as well as the self-employed and freelancers, we can play a role in helping Singaporeans make informed decisions on their CPF savings and be better prepared for the future,” said NTUC Deputy Secretary-General Cham Hui Fong.
Ms. Nanami Kasasaki, Executive Vice President, Corporate Officer, Resorts World Sentosa (RWS) commented, “RWS is one of Singapore’s largest employers hiring over 6,000 Singapore Citizens and Permanent Residents. Aligning with the Community focus in our Sustainability Framework, we are delighted to join CPF Board’s Community Paying It Forward movement to meaningfully impact the community in which we operate. In addition to welcoming CPF volunteers to our award-winning attractions, Universal Studios Singapore and S.E.A. Aquarium, we are also looking forward to working with CPF Board to share knowledge about CPF and financial planning with our team members so that they too, can be better prepared for retirement.”
Over 800 volunteers have signed up for the movement via the CPF Volunteering (CPFV) mobile application which was piloted in January 2021. Through a gamified experience, volunteers will earn experience points as they learn more about the CPF system. Those who pay it forward by encouraging others to perform actions such as making a top-up and CPF nominations would also see the impact they have made through fun digital badges. To date, over 350 CPF top-ups and CPF nominations have been recorded in the CPFV app, and many more take place without being recorded. Over the longer-term, volunteers can look forward to engagement sessions such as get-together events and learning workshops to build a stronger community and improve their understanding of CPF.
From 28 April to 31 May 2021, there will be a series of mini-challenges in the CPFV mobile application to spur existing and new volunteers to further deepen their knowledge about CPF and encourage them to pay it forward to those around them. The first 100 volunteers who complete the mini-challenges during this period will win tickets to popular attractions and shopping vouchers, sponsored by RWS and Shopee.
CPF members can visit cpf.gov.sg or call the CPF Call Centre at 1800-227-1188 for enquiries.
Please see accompanying annex on the Community Paying it Forward Movement (PDF, 0.3MB).