The email address in "Contact AK: Ads and more" above will vanish from November 2018. No new email address will be provided. Contact me using Facebook. - AK

Longevity should be a blessing and not a curse.

"One in two Singaporeans aged 65 today is expected to live beyond 85, and one in three will live beyond 90. "Tripartite Workgro...

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Give up Singapore citizenship to unlock CPF savings!

Wednesday, August 8, 2018

Aiyoh, why so many rumors?

If we have questions about the CPF, who should we ask?

Don't ask me.

I blur.

Reader says...
Hi AK, recently I chatted with one of my colleagues and he feels that the govt just keep raising the minimum sum and CPF life drawdown age. 

Apparently there is rumour that the CPF life drawdown age will be increase from 65 to 67. 

He is even thinking of migrating to Canada so that we can withdraw his CPF money.

AK says...
Rumour is a rumour. Haha

Good luck to him in Canada. 😉

Reader says...
Actually this is just to let you know how people are feeling about CPF. 

Like forever cannot touch

AK says...
These people will likely forever have not much CPF to touch 😜

Tell your colleague that the CPF Life automatically pays out at age 70 if we do not opt for earlier pay out date.

Hope that doesn't freak him out. 😛

Reader says...
Aiyoh u so bad!

Ya lor. I also say.

Bad AK! Bad AK!

I know Singaporeans who are very dissatisfied with Singapore and everything to do with our country.

They are always complaining about things in Singapore like there is nothing good about our country.

Why not try to make the system work for us instead of thinking that the system is against us?

Could it be that we are against the system instead?

We don't know we had something good until we have lost it.

It is too late then.

Related post:
Government confiscates CPF-MA money when we die!


Wei Yi said...

Agree with AK on this.

CPF is intended to help us grow our retirement nest egg.

Increasing the minimum sum is just factoring the increase in life expectancy and cost of living going forward. The truth is in the numbers, however to some, numbers are unsexy and boring so they choose to believe in falsehoods and conspiracy theories rather than facts in the numbers.

For example previous minimum sums were based on assumption that life expectancy will be 75-80 years.

With the increased life expectancy, the additional years of payout needs to be financed by a higher minimum sum.

AK71 said...

Hi Wei Yi,

I am always willing to accept changes if they are reasonable and changes to the CPF system have been reasonable and also necessary.

People who keep complaining that the CPF system is taking away their hard earned money are myopic.

The CPF is Singapore's own brand of welfare for our people and we really should be taking full advantage of it.

Happy Birthday, Singapore! :D

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