28 May '14, 12am

Why the CPF has failed to meet the retirement needs of Singaporeans

Why the CPF has failed to meet the retirement needs of Singaporeans May 28, 2014 by Ng E-Jay Filed under: Current Affairs and Politics (EDITORIAL POLICY: This article may NOT be reproduced on any blog or website, but link-backs or SNIPPETS with FULL attribution to this site are welcome and appreciated.) Written by Ng E-Jay 28 May 2014 The Central Provident Fund (CPF) was started by the British colonial authority in Singapore in 1955. It was designed to be a retirement scheme for Singaporeans, and both workers and employers would contribute to the scheme. In the early years of our independence, the CPF served the needs of our citizens well. Over the years, however, the PAP government made gradual modifications to the CPF scheme. To prevent Singaporeans from withdrawing all their CPF funds when they reached the age of 55 years old, the government introduced the Minimum Sum s...

Full article: http://www.sgpolitics.net/?p=8785

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