On the enhancement of the Central Provident Fund Minimum Sum, SMU School of Economics Associate Dean (Faculty Research) and Professor of Economics Hoon Hian Teck pointed out that the Enhanced Retirement Sum was three times the Basic Retirement Sum and can better meet the needs of the middle-income group. He added that the suggested 3 per cent hike each year from 2017 to 2020 will ease concerns regarding the upward adjustment of the Minimum Sum.