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From March 2016, CPF savings cannot be used to buy stocks on SGX watch-list
The CPF board on Tuesday said that from March 1 of next year, CPF savings held under the CPF Investment Scheme (CPFIS) will not be allowed to purchase securities on the watch-list of the Singapore Exchange (SGX).
"Companies under Singapore Exchange's (SGX) existing rules are subject to de-listing if they fail to exit the SGX watch-list," CPF board said in a statement.
"This restriction serves to safeguard members' CPF savings as securities placed on the SGX watch-list could potentially be de-listed."
CPF said that those who have invested in securities prior to their being placed on the SGX watch-list can choose to hold or sell them or participate in corporate actions. This is subject to the prevailing CPFIS rules and limits for these securities.
Other recent stories about the CPF:
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- Proposed changes strike a balance, say observers
- Higher contribution rates for older workers mooted
- COMMENTARY: Flexibility comes with risks
- INFOGRAPHIC: How the CPF system could change
- BT Pre-Budget Roundtable: CPF rethink needs to address structural retirement inadequacy