Sunday, May 06, 2018

Should CPF members be allowed to withdraw their savings at 55

For a few years, many members have asked for the right to withdraw their CPF savings at age 55.

I asked this question in the Wisdom of the Crowd - Should members be allowed to withdraw all their CPF savings at 55?

50% of the respondents said yes, that was what was promised to them at the start.

27% said that they should be given the option to withdraw all their savings at 65, if they wish to.

13% said that they should be allowed to take out 50% of their savings at age 65.

10% said that they should be required to set aside a minimum sum to be taken out in installments.

See the pie chart at
http://www.wisdomofthecrowd.sg/chart.aspx?ID=613

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