Singapore is reported every now and then about how marvellous
its education system is.
How 1st world it is in many respects.
How well and highly educated its population is.
How smart the people can save for a rainy day.
How how how...
A population of highly educated people should make the right
decision , couldn't it?
Even if not everyone disagrees with the annuity scheme, educated
people should have their wish respected if they somehow are not
willing to buy the scheme. Afterall , is it not that everyone is
different and everyone is an individual living in different
circumstances , financial needs and lifestyle needs?
We are already the highest savers, I propose after the age of 62,
all cpf money be withdrawable if there are valid reasons to do so
such as in life and death situations, financial difficulties,
children university fees, hospitalization, surgery , consultation
expenses of anyone in the family.
For example, authistic / learning difficulty / mentally challenged
/ disabled / children need special care and as they grow up, they
are financial liabilities to the family. Children born with rare
uncurable diseases also require a lot of financial support.
Could someone advise why under these example circumstances, a
person cannot use the CPF and withdraw as much as needed ? Lets say
he withdraw everything. So, his retirement could be a problem. But
he may also have other insurance to and retirement plans he bought
to cover him. And given the legalising of older working age, and
employment act to encourage employers to continue hiring older
workers, this man can continue to retire without problem by
continuing to work.
What problem is there? I like a strong rebuttal.
