A retired banker said that the recent CPF changes do not go far enough to address retirement needs.
I agree with this view. However, the gap should be covered by personal savings, rather than by adding more contribution to the CPF scheme.
Here is how it can be done.
The government set out the special account to make sure that about 15% of the wages are set aside for retirement. This provides a floor. It should be supplemented by an additional saving of 15% of wages outside of CPF. The additional savings can be used for emergencies, education and unemployment.
This is explained in my book on financial planning (http://c-pearl.com/cart.aspx?ID=19),
It is also explained in my talk which will be held on 9 April.