Second chance for those who miss CPF Life

[slohand2]

The govt is proposing changes to the CPF Act. !!!!!!
Those with $60,000 in their Retirement Account when the reach the draw down age will automatically be included in the annuity CPF Life - giving those who missed out on the first auto - inclusion a chance when they turn 55 in 2013 and have less than $40,000 in their Retirement Account.

WTF !! I like the way they phrase it - giving those who miss it a chance when their agenda is to tighten the noose and scoop up those who fall through their cracks.

The rules covering our own money is so complicated now that Im sure nobody really understands it. Screw them.

 

[Conan the Barbarian]

Well, they did promise an all inclusive Singapore.

 

[cooleo]

I have use for my 2 middle fingers.....

 

[ah_phah]

aiyah, in the early days, they say sinkieland cant copy social security system like overseas, cos sinkies will grow lazy. so they design the CPF as enforced savings.. so that ppl can withdraw at ripe old age for retirement.

now, they flip prata & make us park retirement fund with the znghu, so they have less to payout to the us.

knn, who r they to tell us how to live our lives? especially for retirement as well??

 

[Brightkid]

If the people here is to continue working till their last breath and not to retire, then CPFLife is not relevant anymore ?

If not, CPFLife is actually intended to serve another purpose unknown to the participants ?