More than half of S'poreans think CPF returns are unfair: survey

A survery by Blackbox Research has found that more than half of Singaporeans feel that CPF returns are poor.

A survey of 1,000 Singaporeans has found that more than half of them believe that the CPF system does not give a fair return.

Out of the 51 per cent who held that view, agreement was much stronger among HDB residents and lower or middle income earners than those staying in private properties and earning higher incomes.

Also, three in five felt that CPF returns will be a big issue at the 2016 General Elections.

The survey, conducted by independent research company Blackbox Research, also revealed that satisfaction in the Singapore Government's performance on CPF fell from 72 per cent to 65 per cent between May and June this year.

The drop in satisfaction coincided with the launch of a lawsuit by Prime Minister Lee Hsien Loong against blogger Roy Ngerng in late May for statements that, according to Lee’s lawyer, alleged the Singapore leader was guilty of “criminal misappropriation” of Central Provident Fund monies.

Of those surveyed, 52 per cent said that they were aware of Ngerng's blog posts.

BlackBox Research Managing Director David Black pointed out that CPF had not been an issue generating any real head with the public until recently.

"Roy Ngerng's arguments have obviously struck a chord with many Singaporeans who are confused about all the rules that surround the CPF scheme," he said, adding that the Government in turn appeared to be working to get in front of the CPF issue before it turned into something "difficult to handle".