The CPF Board has last week announced that the 2.5% interest on the Ordinary Account will remain, I am happy at the news. Many people will use their Ordinary Account to pay for their monthly home mortgages. Some will use their Special Account for investment. Special Accounts earn 4.5% investment interests. While I am like most people when it comes to the use of my Ordinary Account, I do not invest my monies in my Special Accounts as the monies in my Special Account earn 4.5% INTEREST FREE unlike that of equities!

I am happy that there is a CPF system in our country. It is really a scheme which ensures Singaporeans can have some monies in their retirement ages for living and for their medical needs. It is a system that instils savings and it is a system that encourages Savings.

I really hope the interests …