Major CPF policy shift on the way

[kichialo]

Yes, we are all different ma. But do you know in the past , a certain number of years when banks's FD rate were higher then CPF's O A rate then what did our G did then? You were left on, your own device then. What risk free return from our G at that time? Nothing O. K. You had to take risk then or happy with 2.5 %{IRRC}.

If bank FD interest is higher than CPF OA, we can just deposit our CPF OA into bank FD, right?

I keep on saying CPF rate is just floor rate and you are free to get a better return yourself, and people keep on ignoring that or misunderstanding that. So right now, I'm smiling.

That's exactly what i am saying but only in a different way. i even say (one step further) that for those who can't learn to invest, just too bad. Don't expect our G to be your housekeeper.

"I'm your Landlord not your housekeeper"
Now who says that to Singaporeans?
Ha! Ha!

Also, the govt will never allow a full withdrawal at age 55 because they realized in the past, majority will wither away their lump sum very quickly. There are instances where people took up 1 year loan at 54, promising to repay their debtors the sum at 55 from their lump sum withdrawal.

Haha these people who will do so will do it at any withdrawal age, be it 55 or 65 or 75. Just because of a few of such cases cannot be a valid excuse for holding the vast majority back.