News: Reviewing of Central Provident Fund scheme

[Piyopico]

Reviewing of Central Provident Fund scheme

 

Published on Aug 22, 201

 

By Janice Tai

 

The government is reviewing the Central Provident Fund (CPF) scheme as life expectancy in Singapore increases to 85 and beyond, said BG (NS) Tan Chuan-Jin, Minister of State for Manpower and National Development on Monday on the sidelines of the Ee Peng Liang Memorial Fund Forum at the National University of Singapore.

 

At the forum, NUS alumnus Mr Ng Kok Hoe, who was awarded the Ee Peng Liang Memorial Fund Scholarship last year to pursue doctoral studies in Social Policy at the London School of Economics, presented findings from his research.

 

He found that the number of elderly who are living with their children in Singapore is declining. He said that this finding is significant because living with their children boosted the incomes of the elderly and improved their income security. As our retirement income system is built on the fact that children will provide for their parents and grandparents, he questioned the sustainability of our current retirement income system.

 

In his speech at the forum, BG Tan noted that Singapore is currently meeting the challenges of increasing longevity. One of the ways in which the government is tackling such challenges is encouraging family support. He said that we have schemes such as the Minimum Sum Topping-Up Scheme (MSTU), for members to voluntarily top up the CPF accounts of their family members, especially those who are not working or unable to work.

 

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Siao liao .............. Review can only mean two things.

 

1. Up withdrawal age from 55 to be in line with retirement age of 62 or

2. Increase minimum sum scheme again ............. maybe set at $1M.

 

Hip hip Hurray!!!!

 

 

 

 

 

 

 

[Donut]

Another bird talk again.......

[Kungming]

might as well say nvr see your $$$ again lor.

[Silver_blade]

Sooner or later, someone will have to have a look at it. It is true that people are liver longer, society has also changes. Fewer people are living with their parents and many don't think it is their job or simply cannot afford to feed both their children and their aged parents. Medical, among other things, are also getting a lot more expensive

[Booboon]

Tomasick lose money again

[Chucky2007]

Whats new?

 

[Speedz76]

thats y its so impt to have an alternative to check on the govt

[Nightkids]

might as well say nvr see your $$$ again lor.

 

Alamak........ 意思浅浅 lo.............

[Falcon1668]

what's the easiest way to migrate? marry malaysian/vietnamese/chinese/thai/indian/indonesian?

[Piyopico]

what's the easiest way to migrate? marry malaysian/vietnamese/chinese/thai/indian/indonesian?

 

You can stretch you $$$$ furthest in Thailand ................ mei mei oso prettiest.

 

[Jasonjst]

Sooner or later, someone will have to have a look at it. It is true that people are liver longer, society has also changes. Fewer people are living with their parents and many don't think it is their job or simply cannot afford to feed both their children and their aged parents. Medical, among other things, are also getting a lot more expensive

 

How come people live longer ? How many of us here think we can out live LKY ? I see more people in Singapore die earlier than say our ah kong from China lor .

[LoverofCar]

Just one sentence....."CPF is for your children to use...not for you...you will not have chance to enjoy it in your life time"

[Jermy]

Guess the only way is to renounce your SG citizenship if u wanna get your CPF monies earlier...sigh...

[SimonTan]

Die lah.....austerity programm in disguise!!

 

Lower payouts....longer duration....maybe even later till 70 then can claim the money.

 

See lah...this is what happen when you give 60.1% mandate.

 

 

[Kb27]

The 60.1% are idiots who thinks they are not capable to handle their own money and need gahmen to hold for them.

[Mockngbrd]

Cpf news is never good news... f--king cpf

[Rayleigh]

Hiaz.....another blanket policy. Wonder which GRC will be lost again.

[Maroon5]

frankly i hardly see pple living past 80 now...wat statistics r they looking at.