SMU School of Economics Associate Dean (Faculty Research) and Professor of Economics Hoon Hian Teck was of the opinion that as the average size of the modern family dwindles, the elderly are unable to rely on their families to fully provide for them during their retirement. As such, those who choose to participate in the CPF LIFE scheme do not need to worry about changes to their quality of life since they will receive more income every month based on the scheme.