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Appointment of Ms Yong Ying-I as Chairman of The Central Provident Fund Board

Ms Yong Ying-I (杨颖仪), Permanent Secretary, Ministry of Communications and Information, will succeed Mr Chiang Chie Foo (郑子富) as Chairman of the Central Provident Fund Board (CPF Board) from 1 July 2021. Ms Yong has held numerous leadership positions within the civil service, including the Public Service Division, Ministry of Health and Ministry of Manpower (MOM). With her extensive experience in the public service, Ms Yong is well-placed to lead the CPF Board. Please see Annex A for more information on Ms Yong. 

 

2.       Mr Aubeck Kam, Permanent Secretary, MOM said, “The Ministry would like to extend our deepest appreciation to Chie Foo for his unwavering leadership over the past eight years. During this time, the CPF Board has achieved sustained service and operational excellence. Chie Foo has contributed significantly to the enhancement of the CPF Board’s governance processes, as well as development of new systems and infrastructure. We would also like to warmly welcome Ying-I into the MOM family. She is no stranger to the Ministry and CPF Board, having previously served as Permanent Secretary (Manpower). Her leadership experience will be a tremendous addition to the Board.”

 

Appreciation for Mr Chiang Chie Foo’s Contributions

 

3.       MOM and the CPF Board would like to thank Mr Chiang for his contributions since his appointment on 1 July 2013.

 

4.       Under Mr Chiang’s stewardship, the CPF Board successfully implemented several key policies to better meet the retirement, healthcare and housing needs of Singaporeans. These include new schemes like the Matched Retirement Savings Scheme and Silver Support Scheme to help vulnerable seniors build up more CPF savings for retirement, as well as healthcare schemes like MediShield Life and CareShield Life to provide lifetime protection against large hospital bills and catastrophic long-term care costs. Mr Chiang also led the CPF Board in the implementation of the CPF Advisory Panel’s recommendations such as the CPF LIFE Escalating Plan and the review of the CPF Investment Scheme.

 

5.       Mr Chiang played a pivotal role in enhancing CPF Board’s business resilience and governance through the establishment of a robust risk management framework and the development of cyber defence capabilities to safeguard critical assets. He also led the CPF Board to invest ahead in digitalisation and transformation, enabling CPF Board to rapidly leverage new technologies and deploy applications like PayNow and develop an Online Nomination service to better serve Singaporeans.

 

6.       Mr Chiang is also a strong proponent of public engagement and had steered the Board to run campaigns and outreach initiatives to improve public understanding of the CPF system. Under his guidance, CPF Board further deepened its engagement with CPF members through the implementation of the personalised CPF Retirement Planning Service and revamped Yearly Statement of Account to provide personalised guidance to members on the use of their CPF. Please see Annex B for more information on Mr Chiang.

 

New and Re-appointments of CPF Board Members

 

7.       One new member has been appointed to serve for a two-year term from 1 July 2021.

  1. Ms Toh Hwee Tin (Employee Representative)

    Director, Industrial Relations

    National Trades Union Congress

    Executive Secretary

    Food, Drinks and Allied Workers Union

8.       Three other members have been reappointed for a further two-year term from 1 July 2021. They are:


  1. Ms Ho Hern Shin

    Deputy Managing Director, Financial Supervision

    Monetary Authority of Singapore

  2. Ms Liew Tzu Mi

    Chief Investment Officer, Fixed Income

    GIC Pte Ltd

  3. Mr Shamir Rahim (Employer Representative)

    Founder & Chief Executive Officer

    VersaFleet Pte Ltd

9.       MOM and CPF Board would like to thank the following retiring Board member for her outstanding service.


  1. Ms Cham Hui Fong (Employee Representative)

    Deputy Secretary-General

    National Trades Union Congress

Annex A - About Ms Yong Ying-I

Ms Yong Ying-I is currently Permanent Secretary (Communications & Information), Permanent Secretary (Cybersecurity), and the Chairman of SGInnovate. She is also Deputy Chairman of Singapore Symphonia Company Ltd and a member of the Singapore-China Foundation Board of Governors.

Ms Yong served in the Ministry of Finance, Ministry of Trade and Industry, and Ministry of Home Affairs before her appointment as Principal Private Secretary to then Deputy Prime Minister Lee Hsien Loong in 1997. Between 2002 and 2019, Ms Yong held various Permanent Secretary appointments in Manpower, Health, National Research and Development, and the Public Service Division.  She has also been Chairman of Infocomm Development Authority of Singapore, Workforce Development Agency, and Civil Service College.

 


 

Annex B - About Mr Chiang Chie Foo

Mr Chiang Chie Foo is currently the Senior Advisor in the Ministry of Defence. He also holds the appointment of Chairman of the PUB – Singapore’s National Water Agency.

Mr Chiang Chie Foo joined the Administrative Service in 1981. He held several key positions such as Director, Internal Security Department from 1993 to 1997, and Principal Private Secretary to then Prime Minister Goh Chok Tong from 1990 to 1992. Between 1999 and 2013, Mr Chiang held various Permanent Secretary appointments in Education, Defence, and the Prime Minister’s Office. Mr Chiang was awarded the Public Administration Medal (Gold) in 1997, the Meritorious Service Medal in 2007 and the Distinguished Service Order in 2019.