CPF panel should review wage cap

I refer to the report “CPF Minimum Sum could differ, based on needs” (Dec 15).

Now that something might be done about the Central Provident Fund Minimum Sum amount, what about the wage cap of S$5,000 per month and Additional Wage Ceiling of S$85,000 per year for CPF contributions?

It has been said that Singaporeans’ CPF savings are inadequate for their retirement, so why the cap?

I can understand that the Government is trying to help small and medium enterprises and, at the same time, encourage firms to employ older workers. There are firms, however, that may not mind contributing more towards their staff’s retirement.

I would appreciate that the panel reviewing the CPF explore this matter too.