Associate Professor Benedict Koh, Co-Director of the Centre for Silver Security at the Sim Kee Boon Institute for Financial Economics commented that reasons for the low take-up rate for the CPF cited in the academic literature include the need for liquidity or cash flow; desire for control over savings; lack of financial knowledge or simply inertia.
At the ASPPA conference in Washington this week, Treasury Department advisor J. Mark Iwry emphatically assured the pension professionals who filled the vast ballroom at the Gaylord National Resort & Spa that the government isn't plotting to mandate the purchase of annuities.
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