The Straits Times, 7 February 2025
Forum, pB5
We thank Mr Cheong Tuck Kuan for his suggestion (Offer AI-powered advisory service so all can understand CPF changes, Jan 29).
The CPF Board is committed to helping members understand how CPF changes affect them and to make the most of their CPF.
For instance, before the Special Account (SA) closure, members aged 55 and above could view the estimated amounts that would be transferred from their SA to Retirement and/or Ordinary Accounts on their retirement dashboard, helping them to plan.
Following the SA closure for members aged 55 and above on Jan 19, 2025, personalised notifications were sent, in all four official languages, to explain the treatment of their SA savings and how to optimise their CPF savings.
To help members better navigate their financial andretirement planning on CPF matters, the CPF Board has also developed a range of tools that provide personalised guidance and resources. These include personalised dashboards and the online planners under Plan with CPF (cpf.gov.sg/planwithcpf) that offer personalised projections and recommendations on options based on members’ individual circumstances, enabling them to make informed financial decisions at different life stages.
As part of ongoing public education efforts, the CPF Board publicises CPF and financial literacy information across multiple channels, and leverages the networks of our partners and CPF volunteers to extend our reach to a wider audience, especially seniors. For instance, for less IT-savvy members, the CPF Board organises regular physical outreach events to help them learn more about CPF schemes and address their queries.
Members, regardless of their age or financial literacy, who need further personalised assistance can also visit our CPF service centres, call our hotline or write to us.
We also recognise the opportunities that artificial intelligence (AI) can provide, and are constantly exploring how new technologies can be applied to benefit members, such as improving access to CPF information and services
Peh Er Yan
Group Director, Communications and Engagement Group
Central Provident Fund Board