Date: March 5, 2018
SIAS applauds the move by CPF to improve the current CPF Investment Scheme (CFP IS) with the focus of helping knowledgeable investors that are confident of investing their CPF monies themselves, to achieve a higher rate than the current 3% for ordinary account. The reduction of fees for CPF IS approved products is welcomed, as fees are a drag on investment return. In addition, SIAS welcomes the introduction of a Self-Awareness Questionnaire that investors must take before opening an CPF IS account, as it is to ensure that investors have the right level of financial knowledge before investing, particularly understanding risks in an investment.
While the government is making every effort to ensure that the cost of investing is reduced, ultimately it is the responsibility of investors to manage their monies wisely. Investing without knowledge is gambling. CPF investors , therefore, need to first attain investment knowledge.
David Gerald
President & CEO
Securities Investors Association (Singapore)
