Singapore changes fund rules to boost investment
Changes to the CPF next year could inject more than S$37 billion into the fund management industry.
The Singapore government has announced major changes to the Central Provident Fund (CPF) scheme this week aimed at discouraging workers from using a large part of their retirement savings on purchasing a home. The move could in theory release more than S$37 billion ($21.5 billion) for investment, with fund managers the most likely winners.Singapore's retirement system may seem complex at first glance. But from the government's point of view it is designed to look after the whole adult…
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