FOR more than two decades, the idea of an institutional-style retirement investment scheme for Central Provident Fund (CPF) savings has provoked discussion and raised expectations.
For a while, it seemed that the vaunted Lifetime Retirement Investment Scheme (LRIS), as recommended by a CPF panel in 2016, could be the answer for those who wish to invest their CPF savings for a higher rate of return than the default interest rates.
The LRIS was to simplify choices for members by offering simple, low-cost lifecycle portfolios.
But on this front, there has mostly been silence, about seven years since the LRIS was announced. Since then, there has been a sea change in the retail investment environment....