By Michelle Tay

LAST year's market meltdown has slashed over a third of the value off investments of retirement savings in stocks and unit trusts under the Central Provident Fund Investment Scheme (CPFIS).

Their plunging values were roughly in line with the slump on global bourses. Only the traditionally safe haven of bonds saw gains under CPFIS.

According to Lipper, a fund research and analysis firm, unit trusts available under CPFIS retreated 40.24 per cent on average while investment-linked insurance products (ILPs) fell 36.06 per cent.

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