Central Provident Fund Board - CPF
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Central Provident Fund Board
CE NTR AL PROVIDE NT FU N D BOAR D
Content Page
Chairman’s Board Corporate
Statement Members Governance
Mission
P4 P8 P10
To enable Singaporeans
to have a secure retirement,
through lifelong income,
Core Organisation START NOW
healthcare financing Management Structure Our 3-Year Ambition
and home financing
P12 P14 P16
Vision
A trusted and respected The ABCDs of our CPF Building a Secure
Cultural Attributes at a Glance Foundation for
social security organisation, Retirement
committed to enable P18 P20 P22
Singaporeans to have
a secure retirement
Strengthening Providing Healthcare Enabling Home
Retirement Protection for Life Ownership
Income
Public Service Values
Integrity, Service, Excellence P24 P26 P28
Making a Supporting Achieving
Difference Singaporeans Excellence as
through Service Beyond CPF One Workforce
P30 P38 P39
2 AN N UAL R EP O RT 201 9 3
CE NTR AL PROVIDE NT FU N D BOAR D
Chairman’s Statement
Update on the Central Provident Fund sector. Under the pilot, the Government, as for CPF usage was also lowered from 30
and Insurance Funds a service buyer, helps SEPs directly transmit years to 20 years. These changes cater to the
their contributions to their MediSave Account changing needs and higher life expectancy
and pays the remaining service fees to the of Singaporeans.
In 2019, the number of CPF members increased SEPs. This will help SEPs better save for their
by 2% to 4.0 million, and total CPF balances healthcare needs through smaller and more The new Enhanced CPF Housing Grant (EHG)
grew by 9% to $425.1 billion. This excludes regular MediSave contributions whenever they was introduced on 11 September 2019 to
the net amount withdrawn for housing and earn an income. To help SEPs who might also replace the existing Additional CPF Housing
investments, which stood at $251.7 billion be contributing to MediSave for past year’s Grant (AHG) and Special CPF Housing Grant
as at end 2019. Members continued to earn earnings, a dollar-for-dollar matching will be (SHG). Previously, eligible first-timer families
an interest rate of up to 3.5% per annum on provided for CAYE contributions made in 2020, who bought a subsidised flat from HDB could
their Ordinary Account monies, and up to 5% capped at $600. enjoy the AHG and the SHG, while those who
per annum on their savings in the Special, bought resale flats could enjoy the CPF Housing
MediSave, and Retirement Accounts. These Recognising members’ concern that the Grant and the AHG. The new grant will benefit
interest rates included an extra 1% interest Retirement Sum Scheme (RSS) payout first-timer home seekers as there are no
paid on the first $60,000 of a member’s duration may be too long, the CPF Board restrictions on flat buyers’ choice of flat type
combined balances. CPF members aged 55 reviewed the payout rules in 2019 such that and location, and buyers are eligible for the
and above also earned an additional 1% extra RSS payouts generally last up to between same amount of grant regardless of whether
interest on the first $30,000 of their combined ages 85 - 90, instead of 85 - 95. With the they choose to purchase a new or resale flat.
balances, allowing them to earn up to 6% implementation of the new payout rules from With the EHG, first-timer families will be able
Mr Chiang Chie Foo interest per year on their retirement balances. 1 January 2020, almost 80,000 members now to receive up to $80,000 when they buy a flat
receive higher monthly payouts. that can cover them and their spouses to the
As at end 2019, about 600,000 members were age of 95.
insured under the Home Protection Scheme The Lease Buyback Scheme (LBS) was extended
(HPS), and the Home Protection Fund stood at to all HDB flat types from 1 January 2019. Prior
$1.3 billion. About 1,060 HPS claims amounting to the change, the LBS was only available to Providing Better Support for Members to
to $95.5 million were approved in the course members age 65 and above who own 4-room Meet their Healthcare Needs
of the year. The MediShield Life Fund stood or smaller flat types. With the extension, those
at $1.9 billion as at end 2019. About 684,000 who own 5-room and larger flat types can From July 2019, Singapore citizens eligible for
MediShield Life claims were approved in 2019, now take up the LBS to monetise their flat. the Merdeka Generation (MG) Package started
amounting to $1.0 billion. receiving annual MediSave top-ups of $200,
which will continue until 2023. MG members
Providing More Flexibility for Members to also received an additional subsidy of 5% for
Major Enhancements In 2019 Meet Their Housing Needs their annual MediShield Life premiums, which
will increase to 10% after they reach 75 years
Since 10 May 2019, the rules on CPF usage for of age.
Helping Members to Strengthen housing were updated to provide buyers with
Retirement Adequacy more flexibility when buying a home for life
while safeguarding their retirement adequacy. Improving Members’ Service Experience
The CPF Act was amended in 2019 to allow the Under the new rules, the total amount of CPF
CPF Board to launch the Contribute-As-You- savings that members can use for property To help members better plan for their retirement,
Earn (CAYE) pilot from 1 January 2020 for Self purchase will depend on the extent the we expanded the CPF Retirement Planning
Employed Persons (SEPs) who provide services remaining lease can cover the youngest buyer Service to members reaching their payout
directly to the Government and the public to age 95. The minimum lease requirement eligibility age (CRPS@65) from January 2019.
4 AN N UAL R EP O RT 201 9 | C HAI R MAN ’ S STATEM ENT 5
CE NTR AL PROVIDE NT FU N D BOAR D
These personalised one-on-one sessions aim 1980 will have the option to join CareShield Supporting Members in Retirement
to help members understand the CPF schemes Life if they are not severely disabled. To ensure
and options available to them. More than that no Singaporean will lose coverage due From 1 January 2021, the Silver Support
600 members attended CRPS@65 in 2019. A to financial difficulties, premiums can be fully Scheme will be enhanced for Singaporeans
majority of the members found the session paid using MediSave savings, and government aged 65 and above. The eligibility criterion
useful in helping them understand what subsidies and additional premium support will on total CPF contributions will be increased
happens to their accounts at payout eligibility be provided to eligible Singaporeans. from $70,000 to $140,000. For self-employed
age and their top-up options, and would members, the criterion on average annual
recommend their friends and family to attend. From 1 January 2021, MediSave700 will net trade income will be raised from $22,800
be introduced as an enhancement to the to $27,600. The household monthly income
Further Enhancements in 2020 existing MediSave500 scheme. The MediSave per person criterion will also be raised from
and Beyond withdrawal limit will be raised from $500 $1,100 to $1,800. With these enhancements,
to $700 for patients with complex chronic we expect 100,000 more citizens to benefit
conditions, to better support their medical from the Silver Support Scheme. In addition,
Introduction of Matched Retirement
needs. With a higher withdrawal limit for eligible members whose household monthly
Savings Scheme
these patients, the limit will also change from income per person is below $1,300 will receive
The Matched Retirement Savings Scheme the current per-account basis to a per-patient a payout quantum which is 20% higher than
will be introduced from 2021 to 2025 to help basis. The enhancements will help to defray the current payout for the same flat type.
Singaporeans aged 55 to 70 who have yet to out-of-pocket expenses for these patients,
meet the Basic Retirement Sum save more for and are expected to benefit an estimated
retirement. Under the scheme, the Government 176,000 patients. Conclusion And Appreciation
will match every dollar of cash top-up made
to the Retirement Account (RA) of eligible From 1 April 2020, the eligibility criteria for Over the years, the CPF Board has remained
members, up to an annual cap of $600. About the Silver Housing Bonus (SHB) has been steadfast in helping Singaporeans meet their
435,000 Singaporeans will be eligible for the simplified. Members can qualify for the SHB retirement, housing, and healthcare needs
scheme. when they utilise part of the proceeds from through the CPF system. I would like to take
right-sizing their HDB flat to top up their RA this opportunity to convey my gratitude and
Enhancements to Existing Schemes to via the Retirement Sum Topping-Up scheme. appreciation to all Board members as well
Better Meet Members’ Needs Previously, in order to enjoy the full bonus, as CPF Board staff for their dedication and
members might be required to make a second commitment to helping our members achieve
CareShield Life will soon be introduced to top-up after making a first top-up of $60,000, a secure retirement.
protect Singaporeans against long-term care depending on their remaining proceeds and
costs. Compared to ElderShield, CareShield Life RA balances. With the simplification, there is no I would also like to extend my appreciation
will provide better protection through lifetime second-tier top-up required. The requirement and thanks to former Board members Mr Tung
payouts as long as one remains severely disabled. that members must be selling a larger flat has Siew Hoong and Mr Zahidi Bin Abdul Rahman
The starting payout of $600 per month is also also been removed as long as they buy a 3-room for their valued service and contributions to
significantly higher than the fixed payout of or smaller flat. In addition, the maximum cash the Board. Both Mr Tung and Mr Zahidi have
$300 or $400 under ElderShield, and payouts bonus for members was increased from $20,000 retired from the Board at the end of their
will increase over time. CareShield Life further to $30,000. The maximum bonus for the Lease term at the end of June 2019. We welcome
provides universal coverage to all Singaporeans Buyback Scheme (LBS) was also increased to on-board Mr Shamir Rahim and Ms Liew Tzu
born in 1980 or after, including those with pre- $30,000 to align with the revised SHB. Mi as Board members, and look forward to
existing disabilities. Singaporeans born before
their contributions.
6 AN N UAL R EP O RT 201 9 | C HAI R MAN ’ S STATEM ENT 7
CE NTR AL PROVIDE NT FU N D BOAR D
Board Members
1 Mr Chiang Chie Foo 9 Ms Rachel Eng
Chairman 1 2 Managing Partner 9 10
Eng and Co. LLC
2 Mr Augustin Lee 10 Ms Ho Hern Shin
Chief Executive Officer Assistant Managing Director
Central Provident Fund Board (Banking & Insurance Group)
Monetary Authority
of Singapore
3 Mr Chan Heng Kee 11 Professor Annie Koh
Permanent Secretary 3 4 Vice President 11 12
Ministry of Health Office of Business Development
(Government Representative)
Professor of Finance (Practice)
Singapore Management University
4 Mr Lim Zhi Jian
Director of Reserves and Investment
12 Ms Liew Tzu Mi
Ministry of Finance
Chief Investment Officer
(Government Representative)
Fixed Income
GIC Private Limited
5 Mr Shamir Rahim 13 Mr Aje Kumar Saigal
13 14
Founder & Chief Executive Officer 5 6 Chief Executive Officer &
VersaFleet Pte Ltd Chief Investment Officer
(Employer Representative) Nuvest Capital Singapore
6 Mr Tan Hee Teck 14 Mr Tan Teck Huat
Chairman & Finance Director
Chief Executive Officer QAF Limited
Resorts World at Sentosa Pte Ltd
(Employer Representative)
7 Ms Mary Liew
President 7 8
National Trades Union Congress
General Secretary
Singapore Maritime Officers’ Union
(Employee Representative)
8 Ms Cham Hui Fong
Assistant Secretary-General
National Trades Union Congress
(Employee Representative)
8 AN N UAL R EP O RT 201 9 | BOAR D M EM B ERS 9
CE NTR AL PROVIDE NT FU N D BOAR D
Corporate Governance
Board’s Conduct of Affairs Board Committees all cases are reported to the Audit Committee. required to present its annual budget, including
The programme is regularly communicated to any supplementary budget, to the President
The Board is the trustee of the Central Provident In discharging its responsibilities, the Board is all staff. for approval, together with a declaration as to
Fund and oversees the management of the supported by five Board Committees, namely whether the budget is likely to draw on past
Fund as prescribed under the Central Provident the Audit Committee, Investment Committee, reserves. Likewise, under Article 22B(6) of the
Internal Audit Singapore Constitution, the Board must inform
Fund Act (CPF Act). It is also responsible for MediShield Life and Insurance Schemes
reviewing and approving the annual budget Committee, Risk Management Committee, and the President if any other proposed transaction
Internal Audit reports to the Audit Committee by the Board is likely to draw on past reserves.
and financial statements. The Board monitors Staff Committee, each commissioned with the
and operates independently from the other The Board is also required under Article 22B(1)
organisational performance, ensures the respective Terms of Reference approved by
Groups of the CPF Board. The role of Internal (c) of the Singapore Constitution to present to
adequacy of risk management policies and the Board. More information is available in
Audit is to provide objective audit assurance the President, within six months after the close
systems, and provides advice to Management Annex I.
to the Management and Audit Committee on of each financial year, the audited financial
to ensure that the CPF Board functions
the adequacy of governance, risk management statements and a declaration as to whether the
efficiently and effectively. The Board’s approval
and controls processes within the CPF Board.
is required for material transactions and Risk Management And Internal Controls statements show any draw on past reserves.
It adheres to the Code of Ethics and the
decisions, including but not limited to the sale
International Standards for the Professional The budget, when approved by the President,
of property. Risk Management
Practice of Internal Auditing set by the Institute is published in the Government Gazette.
of Internal Auditors. The full year financial results of the
The CPF Board has established a structured
Board Composition and Membership Boardwide risk management framework to CPF Board are made available to CPF
assess the soundness of its financial reporting, members and the general public via the
The CPF Act provides for the appointment of and the efficiency and effectiveness of its External Audit CPF website.
15 Board Members, comprising the Chairman, risk management, internal controls and
Deputy Chairman, Chief Executive Officer, two compliance systems. Under the Public Sector (Governance) Act
representatives from Government, Employer 2018, the accounts of the CPF Board are Professional and Ethical Conduct
and Employee groups, and up to six other The framework is based on the ISO 31000 required to be audited at least once annually
individuals. The Minister for Manpower, with standard, and entails a rigorous and systematic by the Auditor-General or any other auditor Staff of the CPF Board are obliged to comply
the President’s concurrence under Article process for managing risks. Annual risk appointed by the Minister in consultation with practices that reflect the highest standards
22A(1)(b) of the Constitution of the Republic assessments are conducted by departments, with the Auditor-General. of behaviour and professionalism. This includes
of Singapore, appoints all the Board Members. with the significant risks monitored safeguarding official information under Section
Board Members, including the Chairman and by Management and the Risk Management From its audit, the appointed external auditor 59(1) of the CPF Act, the Statutory Bodies and
Deputy Chairman, are appointed for a term Committee. expresses an opinion on CPF Board financial Government Companies (Protection of Secrecy)
of up to two years. The Board comprised 14 statements, and an assessment of any risks Act (Chapter 319) and the Official Secrets Act
members as at 31 December 2019. The Board has sought assurances from of material misstatement, whether due to (Chapter 213). Staff of the CPF Board must
Management and is satisfied that internal fraud or error. The external auditor report is abide by the CPF Board’s Code of Conduct,
All Board Members, with the exception of
controls relating to the financial, operational, reviewed by both the Audit Committee and the which includes guidelines on receiving gifts
the Chief Executive Officer (“CEO”), are non-
IT and risk management systems are adequate Board, before it is provided to the Auditor- and entertainment from vendors and members
executive members. The Board’s composition
and effective. General Office. of the public with whom staff are in contact
takes into account relevant expertise and
experience required for effective decision with during the course of official duties,
For Financial Year 2019, KPMG LLP was and the avoidance of situations where a conflict
making and leadership. The Board consists of
Whistle-blowing Policy appointed as the CPF Board’s external auditor. of interest may arise. Under the CPF Board’s
members with core competencies in areas such
as accounting, insurance and investment. whistle-blowing programme, staff and vendors
The CPF Board Whistle-blowing Programme are encouraged to report any suspected
encourages the reporting of suspected Accountability wrongdoing.
wrongdoings. Both staff and vendors may
disclose concerns through secured channels The CPF Board is a Statutory Board specified
manned by an independent external party to in Part I of the Fifth Schedule of the Singapore
preserve anonymity. Information provided are Constitution. Under Article 22B(1)(a) and (b)
handled with the strictest confidentiality and of the Singapore Constitution, the Board is
10 AN N UAL R EP O RT 201 9 | CO R P O R ATE G OVER NAN C E 11
CE NTR AL PROVIDE NT FU N D BOAR D
Core Management
As of March 2020
1 11 12 13
2 3 4 14 15 16
5 6 7 17 18 19
8 9 10 20 21 22
1 Mr Augustin Lee 4 Mr Ng Hock Keong 7 Mr Chong Quey Lim 9 Mr Gregory Chia 11 Ms Peh Er Yan 15 Mrs Tan Chui Leng 18 Ms Janice Lai 21 Mr Wong Yan Jun
Chief Executive Officer Deputy Chief Executive Group Director Group Director Group Director Group Director Group Director Group Director
(Infocomm Technology Chief Technology Officer (Policy, Statistics (Housing) (Retirement Income) (Customer Relations) (Digital Services)
2 Mr Lo Tak Wah and Digital Services) (Cybersecurity & Technology) and Research) Chief Information Officer
Deputy Chief Executive Officer 12 Mr Low Pat Chin 16 Mr Tang Lee Huat 19 Mr Tey Chee Keong
(Employers and Finance) 5 Mr Eng Soon Khai 8 Mr Desmond Chew 10 Ms Irene Kang Group Director Group Director Group Director 22 Mr Yeap Thiam Meng
Chief Investment Officer Assistant Chief Executive Group Director Group Director (Member Accounts (Finance and Planning) (Healthcare) Group Director
Chief Financial Officer Officer (Policy and Corporate (Agency & Self-Employed) (Communications) and Investment) Chief Procurement Officer (Agency, Healthcare
Development) Chief Records Officer 20 Mr Winston Yean and Corporate Systems)
3 Mr Soh Chin Heng Chief Data Officer 13 Ms Naina D. Parwani Group Director
Deputy Chief Executive Officer General Counsel 17 Mr Tan Kok Heng (Corporate Strategy and Risk)
(Services) 6 Ms Belinda Teoh (Legal Services) Chief Human
Group Director Resource Officer
(Employer Collections 14 Mrs Pauline Lim
and Enforcement) Group Director
(Business Application Systems)
12 AN N UAL R EP O RT 201 9 | CO R E MANAG EM ENT 13
CE NTR AL PROVIDE NT FU N D BOAR D
Organisation Structure
As of March 2020
Chief Executive Officer
Augustin Lee
Internal
Audit (IA)
Audit
Committee Director
Serene Tan
Employers & Finance (E&F) Services (SVC) Infocomm Technology & Digital Services (IDS) Policy & Corporate Development (PCD)
Deputy CEO Deputy CEO Deputy CEO Assistant CEO
Lo Tak Wah Soh Chin Heng Ng Hock Keong Eng Soon Khai
Employer Finance & Investment Legal Services Agency & Member Housing Healthcare Retirement Customer Digital Business Cybersecurity Agency & Corporate Communications Human Capital Policy,
Collections & Planning Management Group (LSG) Self-Employed Accounts Group (HHG)* Group (HCG) Income Group Relations Services Group Application & Technology Healthcare Strategy & Group (COM) Management Statistics
Enforcement Group (FPG) Group (IMG) Group (ASG) & Investment (RIG)* Group (CUG) (DSG) Systems Group (CTG) Systems Group Risk Group Group (HCM) & Research
Group (ECE) Group (MIG) Group (BAS) (AHC) (SRG) Group (PSR)
Group Director/ Group Director/
Chief Information Chief Technology
Group Director Group Director Deputy CEO General Counsel Group Director Group Director Group Director Group Director Group Director Group Director Officer Group Director Officer Group Director Group Director Group Director Chief HR Officer Group Director
Belinda Teoh Tang Lee Huat Lo Tak Wah Naina D. Parwani Desmond Chew Low Pat Chin Peh Er Yan Tey Chee Keong Tan Chui Leng Janice Lai Wong Yan Jun Pauline Lim Chong Quey Lim Yeap Thiam Meng Winston Yean Irene Kang Tan Kok Heng Gregory Chia
Collection Financial & Fund Social Member Home MediShield Lifelong Customer Digital Member Technology Agency & Risk Outreach & Capability & Policy Dept
Business Management Operations Programmes Accounts Protection Life Policy Income Services Application Infrastructure Workfare Management Partnerships Organisation (POD)
Contact
Administration & Systems 1 Dept (TID) Systems
Dept (CBD) Accounting Dept (FDO) & Transfers Services Dept Scheme Dept (LID) Centre (CCC) Dept (DSD) Dept (RMD) Dept (OPD) Development
Premium Recovery Dept (MS1) Dept (AWS)
Dept (FIN) Dept (SPT) (MAC) Dept (HPS) Dept (MPP) Dept (COD)
Deputy General Group Director
Director Director Director Counsel Director Director Director Director Director Director Director Director Director Director Director
Director Director Janice Lai
Sally Koh Woo Siew Cheong Faith Lee Lynne Loh Sun Hui Yee Sherry Lee Soh Tse Min Dorcas Fong Ang Leng Leng Mary Wee Tan Cheng Lee Eileen Tay Sharon Khoo Linda Chan Ong Eng Chin
Margaret Lim Lyndis Kang (covering)
Collection Finance Fund Member Member Technology Healthcare Strategy & Media & Human Business
Levies & Withdrawal Housing MediShield Life Retirement Service Centre
Services Operations & Management Governance & Digital Application Operations Application Planning Unit Publicity Resource Intelligence
Grants Schemes Schemes Schemes Dept (SCD) Applications Systems 2 Dept (TOD) Systems Dept
Dept (CSD) Treasury Dept Dept (FDM) Coverage Dept (SPU) Dept (MPD) Dept (HRD) Dept (BID)
Dept (LGD) Dept (WSD) Dept (HSD) (MGC)
Dept (RSD) Dept (MDD) Dept (MS2) (HCA)
(FOT)
Director Director Director Director Director Director Director Director Director Director Director Director Director Director
Director Director Director Maple Chang Kate Han Caroline Loh Chan Yoke Fong
Sally Seah Stephanie Ng Jess Teo Chan Mun Yee Ong Woei Jiin Ngiam Su Ying Lee Shu Ping Gan Keng Swee Jacqueline Gian Liew Chaw Ping
Liu Lung Kwan Lim Boon Leong Thomas Koh
Investigation Property Self-Employed Investment Medisave & Retirement Service & Employer Member Technology Healthcare Management
Scheme & Schemes Healthcare Withdrawals Learning Digital Application Programme Systems Information
& Compliance Dept (PYD) Systems 3 Office (TPO) Development
Dept (ICD) Workfare Dept Dept (IVD) Claims Dept (RWD) Excellence Applications Dept (MID)
Dept (MS3) Office (HCD)
(SWD) Dept (MHC) Dept (SLD) Dept (EDD)
Director Director
Director Director Director Director
Director Director Director Director Director Director Mary Wee Loo Sock Min
Yeo Hwee Hwee Peter Ang Yong Boon Hoe Neo Bee Sim
Ivy Ho Wu Meei Lim Lin Chua Hwee Leng Jeffrey Png Chia Swee Fong (covering)
Recovery Corporate Policy Research
Dept (RYD) Services Agency Business CareShield Corporate Digital Business Security & IT Strategic Dept (PRD)
Dept (CVD) Consulting Dept Life Scheme Applications Applications Network Services
(ACD) Dept (CLD) Dept (CDD) Modernisation Operations Dept (ISS)
Group Director Dept (BAM) Dept (SNO) Director
Belinda Teoh Head Kenny Goh
Director Director Director Director
(covering) Tan Mui Leng Director Director
Tang Woon Ee Chee Sok Lin Ang Moy Gek Wee Tee Chiang
Tan Choon Swee Chua Lam Fung
Prosecution Procurement Retirement &
& Court Management Health Study
IT Governance & Office (RHS)
Proceedings Dept (PCM) Security Dept
Dept (PCP) (IGS)
Senior Director
Director Director Director Chua Boon Loy
Jack Tjia Tan Chong Joo Jacqueline Gian
(covering)
* The RIG ConOps (RCT) under RIG (not pictured above) reports directly to Group Director (RIG).
* The HHG Sprint Office (HSO) under HHG (not pictured above) reports directly to Group Director (HHG).
14 AN N UAL R EP O RT 201 9 | O RGAN ISATIO N STRU C TU R E 15
CE NTR AL PROVIDE NT FU N D BOAR D
START NOW
Our 3-year Ambition
Committed to pushing the
Online Services Menu
boundaries of excellence in
service, engagement and
operations, the CPF Board
has embarked on a 3-year Solutions Tech Assurance Retirement Transactions
without and apps at the against without worry without
ambition, START NOW. boundaries leading edge dynamic risks about basic needs hardcopies
Solutions Without Boundaries Assurance Against Dynamic Risks Excel Macros
Python
If Whole-of-Government (WOG) is an organism, Providing assurance is integral to the Board’s UiPath
CPF Board is like the “nerve endings” – mission as we are the trustee of CPF members’
Singaporeans think about appealing to CPF CPF monies. It is imperative that our governance,
Board when they experience financial pain, processes and operations are resilient and
due to the comprehensiveness of CPF savings robust enough to ensure secure, uninterrupted,
for retirement, housing, and healthcare. and error-free delivery of CPF services. In 2020
However, there are in fact many government and beyond, our challenge is to pro-actively
assistance schemes available which they may monitor and track fast-evolving risks and
threats, especially in the area of cyber-security.
not be aware of or may have issues navigating.
We need to leverage better sensing capabilities,
Notifications Operations Workforce
The Board recognises that we are well-placed without letters without that achieves
faster counter measures, and technology-driven mundane work together
to play a more active role in facilitating WOG
interventions to safeguard our data and
solutions even for issues that go beyond the
operations to ensure that our members and
CPF system. Hence, we have introduced the
stakeholders continue to have full trust and
Rejected Appeals Management Protocol Transactions Without Hardcopies Workforce That Achieves Together
confidence in CPF Board.
(RAMP). Instead of stopping at rejecting the
CPF members’ appeals for usage of CPF, we For START NOW to work, CPF Board will need
Notifications Without Letters
would identify the relevant upstream agencies Retirement Without Worry About Basic Needs a workforce that is motivated, trained and
for assistance and work with them to provide which embraces the changes afoot. We plan
Building on our strengths of securing the Operations Without Mundane Work to reshape our workforce profile to focus on
the member with the help they need.
retirement needs of active members, we will Digitalisation is a key pillar of CPF Board’s higher value-added work. For example, to
expand our focus to include CPF members transformation efforts, helping us achieve the reduce unnecessary mundane work, we are
Tech and Apps at the Leading Edge who do not work consistently or earn a low equipping staff with skillsets such as Lean Six
broader Smart Nation vision for Singapore.
salary. Also, beyond sound policies, we need to Sigma for process optimisation, and RPA for
To live up to CPF members’ expectations in CPF Board’s ambition for Transactions
continue to provide CPF members with peace automation of manual tasks. Furthermore,
the digital age, CPF Board keeps abreast of Without Hardcopies, Notifications Without
to enable our staff to work smarter by
of mind by helping them appreciate how the Letters, and Operations Without Mundane
technological developments at the frontier leveraging technology and data-driven
CPF system works for them. Work crystallises what ‘digitalisation’
and adopt relevant technologies rapidly. insights, we have instituted comprehensive
means for the Board. We will systematically training programmes to upskill staff to
Consequently, our supporting IT systems and
We will continue to implement policies well automate all transactions to free up staff to varying degrees of mastery in data and digital
practices must remain modern and fit-for-
and in a timely manner. Key policies that focus on value-added tasks. We will pursue literacy. Given the scale and speed of our
purpose. On this front, we are modernising
the Board will implement in 2020 include interim solutions such as Robotic Process organisational transformation, CPF Board has
our code base, exploiting cloud technologies,
CareShield Life and Contribute-As-You-Earn Automation (RPA) and macros, optimisation also set up a dedicated Change Management
adopting agile software development, and
(CAYE). of inefficient processes, and outsourcing of Unit to provide change management support
hyper-personalising our online service.
non-sensitive mundane work. and train staff in change management skills.
16 AN N UAL R EP O RT 201 9 | START N OW— O U R 3 -Y E AR AM B ITIO N 17
CE NTR AL PROVIDE NT FU N D BOAR D
The ABCDs of To get started on START NOW, we need to embody the cultural attributes
of being Agile, Bold, Customer-Obsessed and Data-Smart.
Our Cultural Attributes
Agile Bold Customer-Obsessed Data-Smart
100% 100%
75% 75%
50% 50%
25% 25%
0% 0%
10%
20%
30%
40%
50%
60%
10%
20%
30%
40%
50%
60%
%
%
100%
110%
120%
130%
10%
20%
30%
40%
50%
60%
70%
80%
90%
• Anticipate change • Innovate, break new ground • Beyond customer-centric, • Drive policy and operational
• Bias for “Good enough but fast” • Undeterred by lack of to having deep understanding decisions with data insights
instead of “Perfect but slow” precedence of what customers value and • Equipped to visualise and
• Improvise, adapt to the • Explore, experiment, what motivates them exploit data
unexpected learn in safe-fail environment • Meet customers’ needs in • Share data but with safeguards
advance (even unspoken ones)
18 AN N UAL R EP O RT 201 9 | TH E ABC Ds O F O U R C U LTU R AL AT TR I B UTE S 19CE NTR AL PROVIDE NT FU N D BOAR D
CPF at a Glance
Figures as at 31 December 2019, unless stated otherwise
Interest Earned by CPF Members CPF Withdrawals Self-Employed Contributions
$15.5
Total interest credited billion Withdrawals from CPF Total CPF Contributions
to CPF members’ members’ balances from Self-Employed
accounts $21.4 Persons (SEPs)
billion $739.2
million
including $1.6 billion
in extra interest1
1
To enhance the retirement savings of Singaporeans, the CPF Contributions and Enforcement Mandatory annual
Government pays extra interest on the first $ 60,000
MediSave contributions
of a member’s combined balances (capped at $20,000
for Ordinary Account (OA)). Please refer to cpf.gov.sg/ made by 221,483 SEPs
$584.5
CPFInterestRates for details on extra interest. Mandatory CPF
contributions made by
148,827 employers for million
their employees
$39.8
CPF Membership
4
billion
million Total Mandatory MediSave
membership2 contributions made by
2,253 SEPs under the
Average default rate for pilot Contribute-As-You-
employers who failed to
2
2
CPF member refers to a person (including self-employed) who Earn (CAYE) 4 scheme
million Active
has a positive balance in any of his CPF accounts. pay CPF contributions (as of 31 March 2020)
on time
members3
Active CPF member refers to a person who has at least one
$0.6
3
contribution paid for him for the current or any of the
preceding three months. The figure excludes Self-Employed
Persons (SEPs) who are not employees concurrently.
1.9% million
CPF Members’ Balances
Total amount recovered
Total CPF members’ CPF contributions for employees in owed
balances grew by 8.7% to collected and credited and late CPF contributions 4
The Contribute-As-You-Earn (CAYE) launched on
8.7%
$425.1 $39.8 from their employers 1 January 2020 requires Government service
buyers to deduct and transmit the MediSave
billion billion $0.61 contribution to the SEP’s MediSave account
whenever they pay the SEP.
billion
More information is available in Annexes C and J.
20 AN N UAL R EP O RT 201 9 | C PF AT A G L AN C E 21CE NTR AL PROVIDE NT FU N D BOAR D
Building a Secure Foundation
for Retirement
Figures as at 31 December 2019, unless stated otherwise
In 2019, CPF Board was
Strengthening Providing Enabling
recognised as Asia’s top
retirement system and Retirement Healthcare Home
ranked seventh out of 37 Income Protection Ownership
retirement systems globally CPF Lifelong Income for the Elderly for Life
in the Melbourne Mercer (LIFE) Scheme
971,0561
Global Pension Index. More than $1.09 billion CPF members
176,000 have joined since
its launch in 2009
in direct medical
expenses paid for
used CPF savings
for housing needs
CPF members
The Board plays a key role in via MediSave amounting to
enabling members to have a About $17.8 billion
secure foundation for $1.9 billion
retirement through lifelong monthly payouts
received by more than
684,000 Based on the number of CPF member s who
1
withdrew their CPF savings to pay for their
income, healthcare protection claims approved
68,000
housing needs. Members who own both flats and
under MediShield private property will be counted more than once.
and home ownership. Life, covering
CPF members
$1.03 billion
$5.31 billion disbursed to CPF
members reaching
in hospital bills
55, and on medical
grounds
22 AN N UAL R EP O RT 201 9 | B U I LD I N G A S EC U R E FO U N DATIO N FO R R E TI R EM ENT 23CE NTR AL PROVIDE NT FU N D BOAR D
Strengthening From the first day they started working, CPF members have been saving
for their retirement with CPF.
Retirement Income
Figures as at 31 December 2019, unless stated otherwise
Saving for a Secure Retirement Topping Up for More Retirement Savings Receiving Lifelong Monthly Payouts Additional Support for CPF Members
CPF members can boost their own CPF LIFE provides CPF members with Silver Support Scheme
2019 or loved ones’ retirement savings by monthly payouts starting any time from
$340.2
61.4%
million
making cash top-ups or CPF transfers age 65, for as long as they live. This is
2018 to their own Special Account (SA) or crucial as Singaporeans are living longer. disbursed to more than 155,000 members aged
RA, or that of their loved ones. 65 and above to supplement their retirement
59.2% Number of CPF LIFE More than income.
of 40,561 active CPF members In 2019, 231,395 top-ups2 were made,
amounting to
members since its
launch in 2009
176,000 Workfare Income Supplement
$2.15
who turned 55 and were able to set Scheme (WIS)
Total amount paid to About
billion
aside their Cohort Full Retirement
Sum (CFRS) fully in cash1, or set aside
more than 68,000
members $1.9 billion
$646.2 million
at least their Cohort Basic Retirement in WIS payments made to around 402,000
Sum (CBRS) while owning at least one Singaporean employees and Self-Employed
Persons (SEPs) for working in 2018.
property. No. of top-ups2
CPF Withdrawals
Retirement sums provide CPF members
with monthly payouts under the CPF 18.5% $7,265.1 million disbursed to CPF
$563.8 million
paid to about 349,000 Singaporean employees
LIFE Scheme or the Retirement Sum members in 2019
for working in 2019.
Scheme (RSS). CPF LIFE provides
payouts for life while RSS provides
$887.4 SEPs who worked in 2019 received their 2019 WIS payment
from April 2020, upon income declaration and payment of the
million
required MediSave contribution.
monthly payouts that will stop when 2018 2019
their Retirement Account (RA) savings (195,301 top-ups2) (231,395 top-ups2) $1,158.6
million
are depleted.
CPF Investment Scheme (CPFIS)
This led to 9,000 more CPF members
attaining at least the Basic Retirement Sum. $5,219.1
million
CPFIS is intended for members who
Top-up amount
Breakdown of members are willing to take risk and have the
knowledge and time to invest their
Reached the age of 55 and have set aside their Ordinary Account (OA) and Special
8.3% CFRS in their RA 3 Account (SA) savings in a wide range of
Withdrawn on death and medical grounds financial instruments.
Left Singapore and West Malaysia permanently,
and Malaysians who left Singapore to reside in
West Malaysia
$16,528.4 of OA savings invested
million by 941,231 CPF members
2018 2019 3
CPF members who are unable to set aside their CFRS or at least
($1.99 billion) ($2.15 billion)
CBRS with a property4, can still withdraw up to $5,000 of their
$5,265.8
savings. Those who are receiving lifelong monthly income of SA savings invested
from their own private annuities or pension may also withdraw
1
For those who do not own a property. 2
Comprising cash top-ups and CPF transfers. their RA savings, without the need to set aside the retirement million by 293,657 CPF members
sum in their RA.
4
For those who do not own a property.
24 AN N UAL R EP O RT 201 9 | STR EN GTH EN I N G R E TI R EM ENT I N CO M E 25CE NTR AL PROVIDE NT FU N D BOAR D
Providing Healthcare Beyond lifelong income, CPF Board helps members save for healthcare
expenses, so they enjoy universal healthcare insurance and can afford the
Protection for Life basic medical care they need, well into retirement.
Figures as at 31 December 2019, unless stated otherwise
Helping Members with Healthcare Costs Honouring and Supporting Our Seniors
More MediSave withdrawals for direct More have benefitted from MediShield Pioneer Generation Package (PGP) Merdeka Generation Package (MGP)
medical expenses Life coverage
• Introduced in 2014 for our Pioneers1 • Introduced in 2019 for our Merdeka
Generation2
$1,033.8 $1,094.5 2018 2019
• Provides eligible Pioneers with assurance for
million
5.9% million $929 $1,037.8 their healthcare costs for life • Provides MG seniors greater assurance with
million million healthcare costs in their silver years
MA
MA approved approved • The Board administers three of the package’s
for about for about • The Board administers three of the package’s
five components3: MediSave top-ups, MediShield
2018 2019
603,000 684,000 Life premium subsidies and come 2021, the five components4: MediSave top-ups, MediShield
claims claims CareShield Life participation incentive Life premium subsidies and come 2021, the
Figures exclude MediSave withdrawals for payment of premiums under the Private Medical Insurance Scheme, ElderShield Scheme and CareShield Life participation incentive
MediShield Life Scheme.
Enhanced MediShield Life Benefits In 2019, CPF Board disbursed to each generation
Through MediShield Life, all CPF members From 1 April 2019, MediShield Life benefits were $329.6 $109.1
enjoy basic health insurance protection enhanced to cover: million million
against large hospital bills for life,
regardless of age or health conditions.
Inpatient treatment for serious pregnancy MediShield
Life premium $179.7 $12.3
and delivery-related complications subsidies million million
CPF members can also use MediSave to
pay for their own or approved dependants’
Continuation of autologous bone marrow $149.9 $96.8
medical expenses, including healthcare transplant treatment for multiple myeloma MediSave million million
top-ups Pioneer Merdeka
insurance premiums. in the outpatient setting
Additional Support for CPF Members 1
Pioneers are Singapore Citizens born on or before 31 December 2
Merdeka Generation seniors are Singapore Citizens born on or
1949 and had obtained Singapore Citizenship on or before before 31 December 1959, had obtained Singapore citizenship
31 December 1986. on or before 31 December 1996, and did not receive the
The Government also provides financial assistance or grants to boost Singaporeans’ Pioneer Generation Package.
3
The five PGP components are (1) outpatient care subsidies,
MediSave savings. (2) annual MediSave top-ups, (3) special subsidies for 4
The five MGP components are (1) outpatient care subsidies,
MediShield Life premiums, (4) cash payments for Pioneers with (2) annual MediSave top-ups from 2019 to 2023, (3) additional
MediShield Life Premium Subsidies MediSave Grant for Newborns moderate to severe functional disabilities under the Pioneer subsidies for MediShield Life premiums, (4) a one-off
Generation Disability Assistance Scheme (PioneerDAS) and PAssion Silver Card top-up, and (5) a higher CareShield Life
$663 million $139.5 million
(5) a higher CareShield Life participation incentive of $4,000 participation incentive of $4,000 when the scheme opens for
when the scheme opens for applications from 2021. applications from 2021.
provided in Government subsidies credited into the MediSave
Accounts of newborns
This went towards subsidising majority of the Parents could tap on this grant for their children’s
cost of extending MediShield Life coverage to healthcare needs such as:
those with pre-existing conditions and premium • MediShield Life premiums
subsidies for lower- to middle-income Singapore • Recommended childhood vaccinations
Residents.
• Hospitalisations and approved outpatient
treatments
26 AN N UAL R EP O RT 201 9 | PROVI D I N G H E ALTH C AR E PROTEC TIO N FO R LI FE 27CE NTR AL PROVIDE NT FU N D BOAR D
Enabling A home is an important part of our members’ retirement nest egg in their
golden years. CPF has been a key pillar in supporting home ownership in
Home Ownership Singapore.
Figures as at 31 December 2019, unless stated otherwise
Home Financing Protecting Members and Their Homes
In 2019, CPF members withdrew a total of Our commitment to members does HPS Premium Rebate Dependant’s Protection Scheme (DPS)
$17,817.4
not end when they make their home
million purchase. We have put in place these
With better-than-expected investment gains DPS is an opt-out term insurance scheme
and lower-than-projected claims, an HPS provided by the Great Eastern Life Assurance
two schemes to protect them and their premium rebate exercise was carried out. Company Limited and NTUC INCOME Insurance
loved ones in the event of unforeseen Co-operative Limited that provides eligible CPF
to pay for their home purchase.
circumstances. members and their families with financial help
More than in the event of the insured member’s death,
760,000
terminal illness1 or Total Permanent Disability
Home Protection Scheme (HPS) (TPD)2 before age 60.
HDB Flats HPS is a mortgage-reducing insurance scheme CPF members
that protects CPF members and their families received the
$11,005.2
from losing their homes in the event of the
insured member’s death, terminal illness1
rebate in their OA
in January 2020
1,898,997 CPF
members
million or Total Permanent Disability (TPD)2. It is covered for a total sum assured of
$93,008
withdrawn by compulsory for members who use CPF savings million
743,560 members to pay for their HDB flats.
About
1 in 2
596,752 CPF members
received $500
or more
covered for a total sum assured of Claims in 2019 Death cases
1,688
Private Properties
& Executive $97,560.5 million 2,585 Terminal illness & TPD cases
Condominiums
897
$6,812.2
million
withdrawn by
Claims in 2019 Death cases
Amount of
claims approved $132.5
627
1,059
million
227,496 members
Terminal illness & TPD cases
432
Amount of
claims approved $95.5 million
1
Terminal illness refers to an illness that is likely to result in the death within 12 months. A claim can be made only if the terminal illness occurred
on or after 1 May 2016.
2
Total Permanent Disability (TPD) refers to (i) the inability to take part in any employment permanently or (ii) the total permanent loss of
physical function or both eyes, two limbs or one eye and one limb. A claim under (ii) can only be made from the total permanent loss of physical
function that occurred on or after 1 May 2016.
More information is available in Annex J.
28 AN N UAL R EP O RT 201 9 | ENAB LI N G H O M E OWN ERS H I P 29CE NTR AL PROVIDE NT FU N D BOAR D
Making a Difference
through Service
Figures as at 31 December 2019, unless stated otherwise
Members Come First
This year, the Board made strides
forward in service transformation. Key
pages on our website were redesigned
CPF
and features on the mobile app were Touchpoints Engagement
enhanced, to help members do more Channels
with ease while safeguarding their data.
Digital
But whatever the touchpoint, members
Platforms
remain at the heart of all these services.
BeReady Microsite
CPF Website Facebook
myCPF Mobile App Instagram
YouTube
“I could feel that you My Mailbox
Electronic Direct
are serving me and AXS Stations & SAMs
Frontline Mailers (eDMS)
my enquiries deep Services
Community Outreach
from your heart.” (Roadshows, Talks and
Events)
CPF Service Centres
— Mr A. Razak, Student Outreach
a member in his 60s on Customer Contact Centre Programme
his experience at Tampines – CPF Game On!
CPF Service Centre
Over About Over More than
62
million transactions performed
on CPF website, myCPF
Mobile App and island-
1 million CPF members and
employers served
10
million
270,000
CPF members engaged
wide kiosks 110,000 engagements1 via community outreach
correspondences via digital and
handled social media
platforms
640,000
calls answered
1
Engagement refers to interactions on CPFB’s Facebook and
Instagram pages, views on CPF Board YouTube channel,
total page views on AreYouReady and BeReady microsites.
30 AN N UAL R EP O RT 201 9 | MAK I N G A D I FFER EN C E TH RO U G H S ERVI C E 31CE NTR AL PROVIDE NT FU N D BOAR D
Digital Platforms Smart payment and collection technologies have allowed the Board
to provide members with more convenient, efficient and near-instant
Figures as at 31 December 2019, unless stated otherwise transactions. In 2019, over 62 million e-transactions were performed
through the CPF website, myCPF Mobile App and kiosk platforms.
“I rated CPF online service the best among others.
Very user friendly, information is very comprehensive,
useful details & easy to understand at a glance.” CPF Mobile App Services
— Anonymous compliment collected from CPF website
Dashboard Close to
Members can easily view their key
CPF accounts and transaction details 530,000
anytime, anywhere. users of myCPF
Mobile App in 2019
Near-instant Crediting and Payments
CPF Website Services (cpf.gov.sg) (PayNow)
New myCPF Mobile App Features
To create a better web experience, the CPF members can now enjoy the benefits
Board invested in usability studies. With of PayNow when performing payment Easier Cash Refund
a deeper understanding of members’ transactions via the CPF website.
needs, these insights guided the redesign
Members can make cash refunds
online for their CPF savings used
“Easy to use, simple
of the CPF website’s homepages, to With PayNow, they can top up their SA or RA and
enjoy real-time crediting into their accounts.
for property purchases. They no interface with clear
great effect. longer need to submit hardcopy
applications. information. Great app!”
Processing TIme
Over
27
— Ms C. Tan, a member in her mid-20s
million
hits on
redesigned
5
homepages
working Near- E-Convenience for Employers
days instant
The CPF website continues to provide
Employers can electronically submit their In December 2019
members a world of convenience in one
90%
They can also use PayNow for payments such employees’ CPF contribution details via:
place. More than 2.8 million members as Housing Protection Scheme premiums and
used it in 2019 to easily: education loan repayments.
• check CPF account of all employers submitted their employees’
balances and statements Close to CPF contribution details electronically
$293
million
98.3%
• submit applications
Mobile CPF AXS stations
phones website island-wide
• check transaction status
and more… collected through
PayNow of all employees had their CPF contributions
submitted electronically
32 AN N UAL R EP O RT 201 9 | D I G ITAL PL ATFO R M S 33CE NTR AL PROVIDE NT FU N D BOAR D
Frontline Services
From introducing CPF services at the Integrated Public Service Centre to
playing a more active role in facilitating Whole-of-Government (WOG)
Figures as at 31 December 2019, unless stated otherwise solutions, the Board’s frontline service transformation efforts go the extra
mile in providing CPF members the support they need.
CPF Service Centres Customer Contact Centre My Mailbox
Close to About About This SingPass 2FA-authenticated
1 660,000 640,000 platform was launched in 2019, so CPF
million members can securely:
were served over calls from CPF
• submit enquiries
the counters members and
• receive personalised responses
About
5
employers handled
340,000
CPF members CPF • view letters and notifications online
and employers service • receive SMS notifications
used Self-Help lobbies to:
served across centres • view and print CPF
Around
statements
• submit online requests
• make payments
110,000
correspondences
made via My Mailbox
CPF Retirement Planning Service (CRPS)
Seniors aged 54 and above can book an appointment at service
centres to receive personalised guidance from a team of multi-lingual
Customer Service Executives on how to enhance their retirement Call Authentication Service with SingPass 2FA
savings and payouts.
In 2019, CRPS was extended to Safeguarding CPF members’ confidential The service:
About CPF members reaching their data is of paramount importance to • provides an extra layer of security to
2,700 Payout Eligibility Age (PEA). the Board. Since 2017, this impactful
service transformation enables secure
protect members
CPF members attended CRPS • eradicates the risk of scams and identity
About verification of their identity with a thefts
Customer Service Executive without
650 having to reveal private identifying
• saves members a trip to the service centre
• frees up staff from paperwork to focus on
information over the phone.
98% CPF members attended CRPS-PEA higher-value interactions
Close to
would recommend
CRPS to others 95% 57,000
members trusted
would recommend and used Call
CRPS-PEA to others Authentication
34 AN N UAL R EP O RT 201 9 | FRO NTLI N E S ERVI C E S 35CE NTR AL PROVIDE NT FU N D BOAR D
Collaboration with Public Agencies:
Engagement Channels
Rejected Appeals Management Protocol Figures as at 31 December 2019, unless stated otherwise
(RAMP)
The Board continued to engage CPF members through mass, targeted and
personalised communication channels. From sharing about scheme benefits
CPF members facing temporary financial to the role of CPF in retirement planning, more members are being reached
difficulties often turn to the CPF Board both offline and on.
for assistance as they see their CPF
savings as a potential source of relief. Online and Social Media Engagement
Sometimes, the assistance they need
lies with other agencies. But members Throughout the year, CPF Board reached Over Close to
may not know who to approach or how.
Recognising this, RAMP was established
out regularly to members on digital and
social media, and collaborated with
10 million
1.5 million
engagements via
1
subscribers reached
in May 2019. content partners to communicate CPF online and social via electronic Direct
schemes and policies. media platforms Mailers with an
open rate of
A collaborative, Whole-of-Government
(WOG) solution driven by the CPF Board
1
Engagement refers to interactions on CPFB’s Facebook and 37%
Instagram pages, views on our YouTube channel, total page
views on AreYouReady and BeReady microsites.
RAMP equips officers with knowledge of
assistance schemes beyond the CPF system,
so they can:
“I am really happy and CPF Retirement Planning Campaign Community Outreach
1. Identify the relevant scheme
2. Proactively work with that agency
grateful. Because I feel
Held annually to reinforce the CPF Board is always seeking deeper
3. Offer alternative assistance to the CPF member a weight has been lifted importance of retirement planning and conversations with CPF members.
Since then, the Board has piloted with partners
off my shoulders.” the role that CPF plays, the campaign’s Through CPF Retirement Planning
theme for 2019 was Be Ready with CPF. roadshows, regular thematic talks and
such as: It leveraged on salient factoids and events targeting them at different
• Ministry of Social and Family Development — Mr SH Kay, a member in his mid-50s provided tips to CPF members aged life stages, we seek to connect with
who benefitted from RAMP between 20 to 54, on how they can members of all ages and from all walks
• Housing & Development Board
make the most of their CPF for greater of life.
• Ministry of Health
peace of mind in retirement.
More than
• Public healthcare institutions
Over 270,000
and assisted over
8.6 million
CPF members reached
700 CPF members with video views from August
2
including
financial difficulties to November 2019
39,000 students reached via new
outreach programme
More than
“CPF Game On!”
630,000
sessions on the cpf.gov.sg/ “CPF Game On!” aims to seed financial literacy
beready website at an early age. Targeted at secondary and
tertiary students, it uses experiential learning
2
Views include those on YouTube, Toggle and
activities and gamification techniques to bring
Facebook platforms. CPF concepts to life.
36 AN N UAL R EP O RT 201 9 | FRO NTLI N E S ERVI C E S | EN GAG EM ENT C HAN N EL S 37CE NTR AL PROVIDE NT FU N D BOAR D
Supporting Singaporeans Achieving Excellence
Beyond CPF as One Workforce
Figures as at 31 December 2019, unless stated otherwise
CPF Board also plays a vital role for the Government and other agencies in The Board was proud to have our efforts in service delivery, customer
ensuring grants and social transfers are promptly and accurately disbursed engagement and creative communications recognised by the public sector
to citizens and companies. and beyond.
GST Voucher Scheme 5-Year MediSave Top-Up Accolades
$55.6 2019 Singapore Good Design Mark (SG Mark) 2019 Marketing Excellence Awards
MA
million by Design Business Chamber Singapore
• Excellence in Content Marketing (Silver)
received by 556,000 Singapore citizens • The Digital Solution Award (Smart Design awarded to CPF Retirement Planning
aged 50 and above in their MediSave Category) awarded to myCPF Mobile App Campaign 2018
Accounts, to support their healthcare • SG Mark (Experience Design) awarded to CPF
$801.6 $145.2 needs as they do not receive benefits
from the Pioneer Generation Package
Bishan Service Centre Transformation
• Top 9 of 81 award-winning projects to
2019 Marketing Events Awards
million million • Best Community Event (Bronze) awarded to
and Merdeka Generation Package receive SG Mark with Special Mention
in cash received by close received by 498,000 CPF Game On! Programme
to 1.4 million Singapore Singapore citizens in
citizens their MediSave Accounts
2019 CCAS International Contact Public Service Transformation Awards
Centre Awards
CPF Top-up Scheme (one-off) The following CPF project team and officers
under the Bicentennial Bonus • Best Human Resource Support Specialist were among the recipients of the 70 awards
Workfare Bicentennial Bonus
(Gold) awarded to Ms Chor Swee San, given out to individuals and teams across the
Senior Deputy Director of Human Resource Public Service for excellence in service delivery,
$210.3 $71 Department
• Best In-House Section (Silver) awarded to
innovation and best practices:
• Service Delivery Excellence awarded to CPF
million million Ms Sarah Ang, Deputy Director of the
PayNow Journey – CPF Smart Payments &
received by 269,300 Customer Contact Centre
Collections Workgroup
Singapore citizens in • Exemplary SkillsFuture @ Public Service
their CPF accounts to in payments made to around 395,000 2019 MARKies Awards awarded to Hans Wahyudin
commemorate Singapore’s Workfare Income Supplement • Exemplary Service Excellence awarded to
Bicentennial Year in 2019 recipients to help with their daily • Most Effective Use – Social Media (Gold)
Zayden Ng Yew Seng
living expenses awarded to CPF Retirement Planning
Campaign 2018
Government-Paid Special Employment • Most Creative – TV/Video Advertising
Leave Schemes Credit Scheme Wage Credit Scheme (Bronze) awarded to CPF Retirement
Planning Campaign 2018
$355.4 $432 $600
million million million
reimbursed for 253,000 disbursed to 100,000 disbursed to 90,000 companies
applications to foster a employers to encourage to encourage employers to share
pro-family environment in the hiring of senior productivity gains with their
Singapore Singaporeans and persons employees, our CPF members
with disabilities
38 AN N UAL R EP O RT 201 9 | SU PP O RTI N G S I N GAP O R E AN S B E YO N D C PF | AC H I E VI N G E XC ELLEN C E A S O N E WO R K FO RC E 39You can also read
