SINGAPORE- The varied composition of the new Central Provident Fund (CPF) Advisory Panel should help it reflect diverse views, including those of different groups on the ground, panel members and observers said.
The 13-member panel, appointed yesterday, includes academics and financial industry experts.
It also has representatives from unions, the grassroots and the social sector, who can convey the views of ordinary Singaporeans.
"I've come across many people with a lot of feedback, and more so in the last few months," said panel member Ng Cher Yan, chairman of the Braddell Heights Citizens Consultative Committee.
One resident, for instance, wanted higher interest on his CPF savings. This topic is related to one of the four areas the panel has been tasked with studying: How to let members seek higher returns through private investment plans.
Prime Minister Lee Hsien Loong first mentioned the panel in his National Day Rally speech last month, saying it would study such "very complicated" potential changes to the CPF system.
Member of Parliament Zainudin Nordin, who chairs the Government Parliamentary Committee for Manpower, welcomed the panel's "good representation across a broad spectrum". He said each member brings "specific know-how and knowledge" from their respective backgrounds.