CPF minimum sum should be $300,000
James Chi Han Hsuan in a letter to Today suggested that the minimum sum in the CPF should be raised to $300k. His justification is that he has many friends who have more than $200k in their savings accounts and they are squandering their money buying all kinds of luxury goods. I can't agree more with James. All these rich people with so much money and do not know what to do must be made to save more. I have also many friends who have millions in their bank accounts. I would want to suggest that the minimum sum be raised to $1 mil so that these people cannot squander away their money. 'Pssst, what about me, I don't have any money in my savings account?' Ah Pek asked.