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20 Feb 2019
Central Provident Fund
Feedback View - 568
Superannuation fund in Australia

An Singaporean, who has migrated to Australia, sent me this post to share his views about the management of his superannuation fund, compared to our Central Provident Fund in Singapore.

Quote:
Hi Kin Lian,
 Please take a look at the video which the CEO of my super fund - UniSuper created to inform clients of whats been happening of late in the market. This is fund members like myself use and this video tells how the CEO sees the market developing and where they see opportunities to make more returns for members.

Have a watch of the video and see what I mean. The video is informative and shows a respect for clients - that they have a need to know how their money is being managed. 

Now contrast that against the almost total lack of any in depth analysis or communication given to clients of CPF and the total lack of any meaningful investment return besides the "nominal" 2.5 to 3.5%, which is barely ahead of inflation. The CPF is a mess and I'm so glad I'm not part of it.

Just sending this so that more Singaporeans know what they are missing out on. Unisuper and many other superannuation funds in Australia are what super funds should be - open, communicative, accountable, and treat clients as intelligent people and give respect to their views.

Not with a "we know best" and "we don't need your advice" attitude. Note at the end of the video they ask clients to email their questions in for the next video installment.

https://www.unisuper.com.au/learning-centre/videos/five-questions-for-the-chief-investment-officer/five-questions-for-the-chief-investment-officer-february-2019

Unquote


Vote on this issue - Should our CPF be invested like the superannuation fund in Australia?


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