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Retirement Plan to show CPF board launches new study on retirement plans of Singaporeans

CPF Board launches study on health and retirement needs

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Singapore’s Central Provident Fund (CPF) Board has launched a study to collect information on the health and retirement needs of Singaporeans.

The announcement follows reports of a number of protests against the local CPF system and a growing concern about local residents having only a basic understanding of how CPF works.

READ MORE: Manpower Minister defends CPF system

Titled the ‘Retirement and Health Study’ (RHS), it will survey 25,000 pre-selected Singapore citizens and permanent residents aged 45 to 85.

The RHS is a joint collaboration with other government agencies, including the Housing and Development Board (HDB), Ministry of Finance (MOF), the Ministry of Health (MOH), and the Ministry of Manpower (MOM).

The participants will be asked questions relating to demographics, employment, consumption of healthcare services, and income and personal savings.

“The objective of the longitudinal study is to gather information pertaining to individuals such as their employment, health, retirement adequacy and expenditures which will help in complementing existing policy design and research,” CPF Board’s website stated.

The survey will be conducted once every two years on the same individuals over a 10-year period. Selected individuals will receive a letter from the CPF Board between July 2014 and March 2015 inviting them to participate.

“The questionnaire will take around 1.5 to two hours to complete,” the RHS booklet stated.

Image: Shutterstock

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