SMU School of Economics Associate Dean (Faculty Research) and Professor of Economics Hoon Hian Teck was of the opinion that the CPF LIFE scheme rolled out is relatively new and the elderly might still be unfamiliar with it, resulting in low participation rates. He also gave two other reasons for the lack of enthusiasm in participation. The first reason is the belief among the elderly that joining the scheme is not necessary since they can rely on family support. The second reason is that these elderly did not accumulate enough CPF funds during their working years to fulfil the criteria for participating in the scheme.