CPF Withdrawal Study by FASS A/Prof Jessica Pan & Prof Sumit Agarwal featured in The Straits Times
What do Singaporeans do with their Central Provident Fund savings withdrawn at age 55?
This is the question explored in a recent study by A/Prof Jessica Pan (FASS Economics Department), Prof Sumit Agarwal (FASS Economics Department), and A/Prof Wenlan Qian (Finance Department). The study, featured in The Straits Times (11 September 2014), examines CPF withdrawal and the subsequent consumption behavior of Singaporeans at age 55. Their findings suggest that consumers’ financial literacy and sophistication are important factors driving withdrawal decisions.