CPF Investment Questionnaire: Assess Your Financial Knowledge

The CPF Investment Scheme (CPFIS) Self-Awareness Questionnaire (SAQ) is a valuable tool that can help you determine if you have the basic financial knowledge required to invest your CPF savings. Whether you are a new CPFIS investor or already have a CPFIS account, taking the SAQ is strongly encouraged.

What is CPFIS Self-Awareness Questionnaire (SAQ)?

The CPFIS Self-Awareness Questionnaire (SAQ) is designed to assess your understanding of investment concepts, products, and charges under CPFIS. It consists of learning modules that cover various aspects of investing. After completing the learning modules, you will need to log in with your Singpass to attempt a quiz.

From 1 October 2018, new CPFIS investors are required to take the SAQ before they can start investing under CPFIS. Agent banks and product providers will ask for your SAQ status for verification. However, even if you already have a CPFIS account, it is still recommended that you take the SAQ to enhance your financial knowledge.

Why is the SAQ important?

The CPFIS Self-Awareness Questionnaire (SAQ) serves several important purposes. Firstly, it helps you assess your own financial knowledge and understand whether CPFIS is suitable for you. By completing the SAQ, you can identify any gaps in your understanding of investment concepts and products.

Secondly, the SAQ is required by CPF Board for new CPFIS investors. It acts as a prerequisite for investing under CPFIS. Agent banks and product providers will ask for your SAQ status to ensure that you have completed the questionnaire before allowing you to invest.

Lastly, taking the SAQ is a way to demonstrate your commitment to improving your financial literacy. It shows that you are proactive in enhancing your understanding of investment concepts and products. This can be beneficial when discussing investment options with financial advisors or when making investment decisions on your own.

How to participate in the CPFIS after taking the SAQ?

Once you have taken the CPFIS Self-Awareness Questionnaire (SAQ), you can participate in the CPFIS regardless of your SAQ results. The SAQ is not meant to exclude individuals from investing; instead, it is a tool to help you make informed investment decisions.

If you are a new CPFIS investor, you can start investing under CPFIS after completing the SAQ. However, it is important to note that the SAQ is not a guarantee of investment success. It is still crucial to conduct thorough research and seek professional advice before making any investment decisions.

If you already have a CPFIS account, while you are not required to take the SAQ, it is strongly encouraged that you do so. The SAQ can provide valuable insights and help you enhance your financial knowledge, which can ultimately lead to better investment outcomes.

Conclusion

The CPF Investment Scheme (CPFIS) Self-Awareness Questionnaire (SAQ) is a powerful tool that can help you assess your financial knowledge and determine whether CPFIS is suitable for you. By taking the SAQ, you can identify any gaps in your understanding of investment concepts and products, and improve your financial literacy. Whether you are a new CPFIS investor or already have a CPFIS account, participating in the SAQ is highly recommended.