18 May '18, 6am

S’poreans using CPF for public housing since 1968 with Public Housing Scheme launch https://t.co/zRuVsb58pl

In her President’s Address in 2018, Halimah Yacob called for bold changes to help Singapore face a different future. Advertisement One suggestion stood out: Redesigning the Central Provident Fund system so that it is no longer used for housing. CPF for housing: An idea The bold suggestion was made by Singapore University of Social Sciences labour economist Walter Theseira. He argued that combining one’s retirement assets with housing assets is only viable if housing prices continue to rise, which may not be the case. The asset-rich but cash-poor nature of many Singaporeans may prove to be a problem if the value of houses fail to rise accordingly, say, after many years of increase. However, the decision to allow CPF to be used for housing was one made exactly 50 years ago, and was instrumental in allowing many Singaporeans to own their own homes. Advertisement Building a ho...

Full article: https://mothership.sg/2018/05/cpf-public-housing-scheme-h...

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