"Two MPs table parliamentary questions on mechanism for CPF payouts; others see no major issues
SINGAPORE: Two Members of Parliament (MPs) have tabled questions for the next Parliament sitting in February on the Central Provident Fund’s (CPF) retirement payout scheme.
This comes after a letter on the issue was posted online, sparking discussions on whether the monthly payouts under the Retirement Sum Scheme should be made automatic when CPF members turn 65."
I m very glad that these 2 MPs r asking this question!
At the same time I could not understand why some of the other MPs said that there is NOTHING WRONG with the way CPF BOARD had communicated it as is!!
The minimun sum was put aside at 55 for payout at 65. So, if CPF Board wanted to encourage the CPF acct holders to wait till 70 as they can get more interest n a higher mthly payout, it should STATE so in the letter just b4 the acct holders turn 65! N ask the acct holders to indicate they want to receive the payout fr after 65 or any time between 65 n 70!!
THAT should n the DECENT n PROPER way to do it.
Hope that CPF Board is not running out of money!
SINGAPORE: Two Members of Parliament (MPs) have tabled questions for the next Parliament sitting in February on the Central Provident Fund’s (CPF) retirement payout scheme.
This comes after a letter on the issue was posted online, sparking discussions on whether the monthly payouts under the Retirement Sum Scheme should be made automatic when CPF members turn 65."
I m very glad that these 2 MPs r asking this question!
At the same time I could not understand why some of the other MPs said that there is NOTHING WRONG with the way CPF BOARD had communicated it as is!!
The minimun sum was put aside at 55 for payout at 65. So, if CPF Board wanted to encourage the CPF acct holders to wait till 70 as they can get more interest n a higher mthly payout, it should STATE so in the letter just b4 the acct holders turn 65! N ask the acct holders to indicate they want to receive the payout fr after 65 or any time between 65 n 70!!
THAT should n the DECENT n PROPER way to do it.
Hope that CPF Board is not running out of money!
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