You are actually allowed to invest your cpf if you have above 20k in your Ordinary account.
Why should you even consider doing so ? When you can earn more than the interest given of course !
Cpf will give 2.6% per annum. If you find an investment with better returns ( not too difficult ) go ahead and make your money’s worth.
I just bought a few lots of aims amp industrial trust, and I’m already earning from the capital gains. The good thing about getting REIT is that you also enjoy dividends so if you hold it long term you will see better returns than cpf interest.
Also cpf will not allow you to make purchases on the more risky stocks so those you buy with cpf money is usually pretty safe.
I tried to go for Far East hospitality trust IPO which came out recently but was not allowed to.