09 Mar '12, 1am

CPF Life - new plans from 2013

From 2013, the Government will be offering only two plans under CPF Life, instead of the four plans that are available now. I agree with this approach, as the public found it difficult to choose between the four plans. There are still a lot of doubts with the two plans, i.e. the diminishing amount of the bequest as the years go by, and the subsidy given to people with lower savings (i.e. they get a higher rate of payout for each $1,000 of saving, compared to those with higher savings). Some people are still unhappy with the compulsory nature, as they are forced to buy a product that they do not like, using their own savings. Many years ago, I gave the following suggestion to the CPF Life public hearing committee: I recommended that they should not make CPF Life compulsory, but make it voluntary and attractive. I had recommended that CPF Life should only make a payout after...

Full article: http://tankinlian.blogspot.com/2012/03/cpf-life-new-plans...

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