THE CPF Board could be more successful in attracting members to top up their accounts voluntarily, if it were prepared to make some fundamental changes to its withdrawal policy.

For example, more could be done to draw CPF members saving for old age to withdraw their money from other financial institutions and use it to top up their Special Accounts - where they can enjoy an interest rate of 4 per cent - and also allow them to withdraw the interest earned from voluntary top-ups.

The interest earned could be paid on demand, or yearly or half-yearly.

The application of the new rule could be confined to CPF members who have made voluntary contributions.

Mr Jolly Wee

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