Anyone Else Received Less CPF Interest Than It Should Be ???

[Papsmearer]

tis is like some kind of offer by hong leong finance or time deposit account from UOB.
they up the rate to entice you to put in more $$$$.
Chee-Pye-F is a commercial institute ?

Long ago became a money making commercial enterprise. The original intent of CPF (to ensure some level of savings for people's retirement) is now not recognizable. They are now going into health insurance (Medisave) and Life insurance (CPF LIfe). Why? These are very profitable businesses. If you look at the skylines of major cities of the world, many have buildings owned by insurance companies.

 

[Papsmearer]

tis is like some kind of offer by hong leong finance or time deposit account from UOB.
they up the rate to entice you to put in more $$$$.
Chee-Pye-F is a commercial institute ?

In some countries like Canada, you can simply go to any bank and open a retirement account. Your employer can deposit part of your pay into this account every month, or you simply GIRO it in. Within this retirement account, you are free to choose the type of fixed deposit you want to earn interest on, and also put it into mutual funds if you wish. At age 55 or 65 or whatever retirement age they have, the money is totally available to you. This eliminates the middleman, which is CPF. That alone will save you tons of money, By right, there should be no overhead, and no fancy building and high paying management and BOD at CPF. Why? They simply take your money, and hand it over to the Ministry of Finance and gives you 2.5%. What is so difficult about that? If they are actively investing your money, than they need a research team, economists, etc. I can understand if they have a overhead. But what they are doing is brainless work.