WP MP Louis Chua calls for balanced CPF OA rates to safeguard Singaporeans’ retirement funds againts inflation
Mr Louis Chua, a Workers’ Party Member of Parliament for Seng Kang GRC, has urged the government to review the Central Provident Fund (CPF)’s Ordinary Account (OA) formula.
He believes that the formula should be adjusted in a timely manner to ensure that Singaporeans’ retirement savings can keep up with inflation or at least reflect market interest rates.