On whether the proposed changes to the Central Provident Fund (CPF) scheme will make the rich richer, SMU Lee Kong Chian School of Business Associate Dean and Professor of Finance Benedict Koh said that as only the first $60,000 savings in one’s CPF will receive 1 per cent more interest, even if CPF members have a higher Retirement Sum, they will not stand to gain much more. Prof Koh also pointed out that the maximum monthly interest earned would only be $1,750, which was lower than Singaporeans’ median income.