Are the forecasted CPF receipts lesser than forecasted CPF withdrawals resulting in insolvency ?
CPF money is a cheap source of funds to GIC which has lost billions in overseas speculations and unable repay the principal plus interest to CPF when due.
Smaller and smaller Singaporean workforce - lesser CPF contributions.
So what are the measures taken by CPF to top-up the shorfall/deficiency ?
Delay the withdrawal age from 55 to 65 and even further (if necessary).
Increase the CPF Minimum Sum Scheme yearly and less payouts in cash to CPF members.
Approved more and more Foreigners to become PRs - more CPF contributions.
Will CPF become bankrupt ?
Don't say it will never happen.
Remember Lehman Brothers .Remember Olympus.
When one day u wake up and hear the news that CPF is bankrupt and your money disappear into thin air,it will be too late !
Yes,we can have all the promises now by the PAP ministers but when the CPF becomes bankrupt they would have left the cabinet and emigrated to USA or Swtizerland !
Nowadays,there is no more guarantee that can be trusted especially by the PAP ministers who can twist and turn the policies anytime.Remember CPF members are originally entitled to withdraw ALL their CPF money when they reached 55 .
Remember, a bird in hand is better than two in the bush.
Actual cash in your pocket is your money which is better than cash in CPF which belongs to the PAP !
CPF money is a cheap source of funds to GIC which has lost billions in overseas speculations and unable repay the principal plus interest to CPF when due.
Smaller and smaller Singaporean workforce - lesser CPF contributions.
So what are the measures taken by CPF to top-up the shorfall/deficiency ?
Delay the withdrawal age from 55 to 65 and even further (if necessary).
Increase the CPF Minimum Sum Scheme yearly and less payouts in cash to CPF members.
Approved more and more Foreigners to become PRs - more CPF contributions.
Will CPF become bankrupt ?
Don't say it will never happen.
Remember Lehman Brothers .Remember Olympus.
When one day u wake up and hear the news that CPF is bankrupt and your money disappear into thin air,it will be too late !
Yes,we can have all the promises now by the PAP ministers but when the CPF becomes bankrupt they would have left the cabinet and emigrated to USA or Swtizerland !
Nowadays,there is no more guarantee that can be trusted especially by the PAP ministers who can twist and turn the policies anytime.Remember CPF members are originally entitled to withdraw ALL their CPF money when they reached 55 .
Remember, a bird in hand is better than two in the bush.
Actual cash in your pocket is your money which is better than cash in CPF which belongs to the PAP !
