PROFILE OF CENTRAL PROVIDENT FUND HOLDERS

Ms Braema Mathiaparanam asked the Acting Minister for Manpower if he will give a profile of active and non-active Central Provident Fund (CPF) holders in the last five years (1999, 2000, 2001, 2002 and 2003) by (i) age (ii) gender (iii) educational status (iv) industry-type and (v) amount held in the CPF.

Dr Ng Eng Hen: By age and gender (i ⅈ)

As at 31st May 2003, there were 1.3 million active members of whom 0.6 million (47%) were females and 0.7 million (53%) were males. There were 1.1 million inactive members of whom 0.6 million (58%) were females and 0.5 million (42%) were males. Over the 5-year period from 1999 to 2003, the number of active and inactive members increased by 5% and 10% respectively. The higher unemployment rates in recent years and the increase in the number of new account holders (especially older Singaporeans above 55 years) who took advantage of the various CPF top-up schemes contributed to the higher percentage of increase in the number of inactive members.

By educational status (iii)

CPF Board does not capture the educational status of CPF members. However, based on Labour Force Survey figures for June 2002, about 18% of those employed had primary school education or lower, 54% had secondary school education and 28% had acquired tertiary level education. In contrast, about 43% of the economically inactive had primary school education or lower, 52% had secondary school education and 5% had acquired tertiary level education.

By industry grouping (iv)

As at 31st May 2003, the two industries with the highest number of active members were Manufacturing (19%), and Wholesale and Retail Trade (18 %).

In terms of gender comparison across industries among active members, all had more male than female members except for Hotels and Restaurants, Financial Services and Personal, Health and Social Services.

By amount held in the CPF (v)

As at 31st May 2003, the median regrossed balances (which include cash CPF savings and those withdrawn under the various schemes prior to retirement) of active male and female members were $110,349 and $80,520 respectively.

In terms of median net balances ie, cash remaining in the CPF accounts, active male members had $42,688 while active female members had $35,031.

Please see tables 1-5 for details. Table 1 - Distribution of Active and Inactive CPF Members who are Singaporeans and PRs by Age Group and Gender as at end May 2003 (Cols. 2439-2440) Table 2 - Distribution of Active and Inactive CPF Members who are Singaporeans and PRs by Gender (1999-2003) (Cols. 2441-2442) Table 3 - Distribution of Active CPF Members (aged 15 and above) who are Singaporeans and PRs by Industry, Gender and Age as at end May 2003 (Cols. 2443-2444) Table 4 - Distribution of Median Regrossed Balances of CPF Members who are Singaporeans and PRs by Age Group as at end May 2003 (Cols. 2445-2446) Table 5 - Distribution of Median Net Balances of CPF Members who are Singaporeans and PRs by Age Group as at end May 2003 (Cols. 2447-2448) Table 1 - Employment Change, 1993-1997 and 1999-2002 (Cols. 2449-2450) Table 2 - Employment Change by Sector, 1993-1997 and 1998-2002 (Cols. 2451-2452)