CPF fundamental review drawing to a close

The mutual fund industry could benefit from a streamlined Central Provident Fund system.
June 21, 2002
Singapore is undertaking a fundamental review of its Central Provident Fund system, the results of which will be announced in the next few weeks. The committee responsible for this review is said to be considering far-reaching reforms, including privatizing the entire thing, but their final recommendations are likely be much more modest, according to people familiar with it.

The ERC results are particularly eagerly awaited by developers, as CPF money is a prime source of income for property companies. The housing market has been stagnant in anticipation of possible changes arising from the ERC.

In October 2001, Goh Chok-tong, the prime minister, established the Economic Review Committee ERC to take the pulse of...

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