The afternoon's third speaker was Mr. Alfred Chia who is the CEO of SingCapital Pte Ltd.  Mr. Chia's job was to talk about the CPF-IS. He had to walk carefully through his presentation because people could feel that he had vested interests to protect if he was not objective enough. To his credit, I think he did quite well in toeing the line. Mr. Chia said that whenever the CPF Board liberalised rules to allow members to use their CPF funds for investments, it would be the insurance companies and banks who got very excited. Their motivation is to make money from fees, after all. Plenty of products would be pushed out then to entice CPF members. Unfortunately, these have happened more often than not during market peaks.

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Anyway, very unfortunately, 85% of CPF members have lost money under the CPF-IS. This is due to a cocktail .....