By Lorna Tan, Finance Correspondent

INVESTMENTS of retirement savings in stocks and unit trusts made under the Central Provident Fund Investment Scheme (CPFIS) have taken quite a hammering in the global market meltdown.

Nearly half of all CPFIS investors who sold their Ordinary Account (OA) investments in the year ended Sept 30 - 440,000 CPF members, or 49 per cent - have lost money, up from 43 per cent a year earlier.

One such investor, schoolteacher Catherine Lee, 40, got cold feet after her CPFIS investment lost 30 per cent. She could not stomach any more losses.

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