High fees fleece CPF members of investment returns
Sales commissions, high management fees eat into CPF savings
Singapore
ONE of the recommendations from the CPF Advisory Panel in August 2016 was the dire need to review the CPF Investment Scheme (CPFIS). The scheme currently operates under a retail model.
As a consequence, CPF members do not enjoy the economies of scale afforded by institutional retirement plans like those in the US, the UK or Netherlands, where the "all-in" fees for both private- and public-sector plans are kept to a minimum, and financial advisers are held to a high fiduciary standard.
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