When the Central Provident Fund was created in the 1950s, the aim was to accumulate savings for retirement.
CPF has changed over the years. It is now used for a variety of purposes, such as home purchase, medical expenses and insurance.
The govt still insists that CPF should be primary for retirement and has introduced schemes to defer the payout of a certain portion of the CPF savings to be drawn out throughout a lifetime.
The delay in withdrawal of CPF has caused a lot of problems to certain groups of people. They need to take out their savings earlier, on reaching age 55, for certain emergencies, or to enjoy their lifetime savings on travel while they are still able to.
Should the CPF scheme to be made flexible? I believe that they are sound reasons to make this change.
https://tklcloud.com/Feedback/feedback2.aspx?id=2220
CPF has changed over the years. It is now used for a variety of purposes, such as home purchase, medical expenses and insurance.
The govt still insists that CPF should be primary for retirement and has introduced schemes to defer the payout of a certain portion of the CPF savings to be drawn out throughout a lifetime.
The delay in withdrawal of CPF has caused a lot of problems to certain groups of people. They need to take out their savings earlier, on reaching age 55, for certain emergencies, or to enjoy their lifetime savings on travel while they are still able to.
Should the CPF scheme to be made flexible? I believe that they are sound reasons to make this change.
https://tklcloud.com/Feedback/feedback2.aspx?id=2220
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