It was reported in the Straits TImes that more Singaporeans are
in debt. Every week, we can see long list of new bankrupts but not
as long list discharged or annulled. Even the discharged bankrupts
are still not eligible to take loans except through moneylenders,
legal and illegal
Perhaps many of those bankrupts have quite a good sum in their
CPF savings. And perhaps by now your goodself may know what I am
trying to get at and no prices for the right guess
Yes. Our CPF savings was earned from our efforts. Every month,
20% is forcefully put aside for us to save. No reasons to be
entertained, "die die must cut 20% from salary".
The money is not to be
withdrawn unless
1.You are buying a
flat,
2. Sick in hospital
3. Helping some GOVERNMENT
APPROVED CORPORATIONS by injecting funds into their company via
buying shares. And you dont have a say how the company should be
run. If the company does not perform, you lose some, maybe
substantial savings and you are not going to be
indemnified.
4. When u are old and healthy enough to enjoy the
money
5. When you die.
Perhaps the governent shud take a good relook and devise ways
how CPF members can utilise the CPF and make life a little better
than focussing on saving for a future that may not come
Will come up with some suggestions in Part 2, if I live long and
healthy enough. Till then, good day everybody