I wonder why they decided on 12 plans in the first place. I have always felt that it was unnecessarily complicated and have given my views on this matter. Anyway, the earlier structure was recommended by a committee of distinguished people that met and received the feedback of a large number of people over several months. It seems that there must be something wrong with the way that decisions are taken in Singapore.
When I gave my feedback to the REACH forum, I suggested that the CPF Life Annuity should be made attractive, rather than compulsory. If it is attractive, many people will opt to join the scheme. It can be made attractive by co-funding by the Government or earn an attractive (higher) rate of interest. The cost to the Government is small and could be easily afforded. (This was before the loss of hundred of billions on the investment of our reserves!)
I do not have the details of the 4 plans. I am not sure if they are placed on the right structure or are still flawed. I shall study it and give my views later.