when retirement age is raised to 82, and you're thinking of
liquidating your HDB to get the money out, don't count on it. PAP
wont allow this to happen.
How was CPF policy 30 years ago? How different is it today in
terms of the minimum sum withdrawal over the years? How different
will it be 30 years later? Nothing is status quo.
Those who earn 100% of their salary.....it's not 100%, CPF has
conned 20% of it every month. Every wage earner here effectively
earns only 80%. Forget about seeing the other 20% at all.
You think this 20% goes into your housing? Yes it does but it
gets sucked deep in. All they have to do is raise the HDB prices
and your 20% means nothing. Thinking you can benefit by liquidating
in your golden years? Don't count on it. Everyone thinks of doing
that....billions will get sucked out of govt coffers. Nothing is
status quo.
Somebody mentioned to me that for housing loan, you can only use
a certain percentage in your CPF to pay for your loan. Once
that % is hit, you need to fork out cash for the remainder of the
mortgage and you can't use CPF anymore. 