If you ask Heartland Boy what is his biggest worry right now, his answer will be “Retirement”. Not his retirement, but his parents’ retirement. He only came to know about his parents’ lack of retirement funds when he helped them to set up two-factor authentication (2FA) for their respective SingPasses. Armed with their SingPasses and with their permission, he proceeded to log onto their Central Provident Fund (‘CPF’) accounts to steal a glimpse.

His heart sank.

Their retirement prospects are bleak and it will inevitably become an issue for his family to grapple with in the near future. At their age, capital protection is paramount, however little amount that they have. In order to grow his parents’ retirement funds in a risk-free way, he decided to rely on CPF’s extra interest rate on his parents’ retirement account savings.

Cannot afford to retire in Singapore

In Singapore’s heartlands, it is quite …