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I hope all the sinkies who think Malaysia's retirement fund, the EPF, is still a better fund than our CPF. Singapore's balance sheet is a lot healthier.
I hope all the sinkies who think Malaysia's retirement fund, the EPF, is still a better fund than our CPF. Singapore's balance sheet is a lot healthier.
The withdrawal age was increased simply because sinkies are living longer, and most of it unhealthily. The CPF is a retirement fund, not a spend-it-all-at-55 fund.
If there are problems with CPF, CPF board would have reduced payouts or even stopped it, stop paying interest on CPF monies and may be even not be able to pay its employees their salaries. So far, none of that has happened. CPF money is safe.
The withdrawal age was increased simply because sinkies are living longer, and most of it unhealthily. The CPF is a retirement fund, not a spend-it-all-at-55 fund.
If there are problems with CPF, CPF board would have reduced payouts or even stopped it, stop paying interest on CPF monies and may be even not be able to pay its employees their salaries. So far, none of that has happened. CPF money is safe.
You've simply forgotten where CPF board got the money in the first place to pay it's employes their salaries.
CPF board can keep increasing their payouts and even interest rates but they also keep increasing your minimum sum and keep increasing your withdrawal age until 100.
By that time do you still have what it takes to smell your so called retirement fund?
I hope all the sinkies who think Malaysia's retirement fund, the EPF, is still a better fund than our CPF. Singapore's balance sheet is a lot healthier.