besides the special needs savings scheme, there are other changes to the cpf act which was passed by parliament today and they are:
1. allowing voluntary contributions by other parties
previously, cpf members could contribute to their own account or those of
family members. employers could also contribute to the accounts of
employees.
now, voluntary contributions to a member's account can by made by any
person, company or association.
2. allowing reversals of some inter-account transers
funds can be transferred between an individual's cpf accounts: for instance,
from the ordinary account to the special account, to benefit from the higher
interest rates.
before, such transfers could not be reversed. now, they can be reversed
under special circumstances. for instance, a cpf member who suffers
unforseen financial hardship after the transfer may need the transferred
savings to service his housing instalments.
3. portability of HPS (home protection scheme)
the hps is ......
