The Central Provident Fund (CPF) is a fully-funded, defined contribution scheme, with funds of US-dollar (USD)150 billion, 3.3 million members, and a transaction count of USD44 million. Given the diverse profile and needs of our members, we face the challenges of effectively serving a sophisticated customer base, bridging the digital divide between more versus less IT-savvy members, and delighting members while remaining cost-effective.

To ensure that we provide quality service in contribution collection, we implemented electronic submission for employers through a variety of platforms catering for different needs, and provided the necessary support through dedicated educational and publicity efforts, as well as on-site support. Today, almost all large employers submit CPF contributions electronically, which has allowed us to significantly reduce the number of data entry officers and submission errors.

To provide quality service in the distribution of members 19 benefits, we implemented several innovations under the 1cDifferent Strokes for Different Folks 1d framework, using technology strategically to offer a wide range of services meeting members 19 different needs. Despite a sharp reduction of service counters from 69 in 2003 to 37 in 2010, members 19 overall satisfaction with services rose from 95.5 to 98.6 per cent respectively. E-service costs were also cut by 83 per cent, from USD0.70 in 2003 to USD0.12 today.

E-transactions have risen from 8 million in 2003 to 46 million in 2010. Today, 97 per cent of transactions are performed online, and member satisfaction with our e-services has stayed above 99 per cent for the last three years. To date, we have 1.7 million active e-service users and approximately 750,000 email alert subscribers.

We have achieved more than ten service-related international and local awards and shared our success story with hundreds of overseas and local organizations over the past three years.