Three years ago, the CPF wanted to introduce a Private Pension Plan (PPP) for their members.
The aim was:
- offer large, well diversified funds for members to invest
- a small number of fund managers will be selected
- no upfront fee
- marketing and educating will be done by CPF
- a modest annual charge
- a trailer charge, for members who encash earlier
The fund management industry did not like the "no upfront fee". The PPP plan was shelved.
I think that the earlier proposal by CPF is sound. I hope that someone will introduce this PPP option for CPF members. It will help them to make the right investments.
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