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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. ................................................................................ ................................................................... 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!!!!