12 Apr '18, 2am

Jobless babyboomer may lose his home, security and retirement | Support Site for The Unemployed & Underemployed

Jobless babyboomer may lose his home, security and retirement | Support Site for The Unemployed & Underemployed

Many Singaporeans will be caught when they reach 55 years old as that is the time a sizeable portion of our CPF will be locked away in the Retirement Account (RA) for the dreaded ever-increasing minimum sum rendering any planned mortgage deduction invalid. One can only use whatever new contribution we have in our ordinary account if we are still gamefully employed to pay for the rest of our mortgages till the end of our loan or age 65 years old. If not, there is a high chance that we may lose our home due to prolonged non-payment of mortgages.

Full article: http://www.transitioning.org/2018/04/12/jobless-babyboome...

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