cpf top ups

Changes of CPF rules for top ups Why would people want to put in money into CPF for top ups of relatives when they could simply put the money aside or into their savings account? For the 2.5% or 4% interest? Is that good enough to put give up good money which one has full control and put into a fund that one loses complete control over the money? Once the money is in the CPF, CPF is in full control of the money and any changes to the rulings, if unfavourable, cannot be reversed. Once in, that's it. But it is a great scheme for Singaporeans who cannot manage their own money.

1 comment:

Ⓜatilah $ingapura⚠️ said...

> But it is a great scheme for Singaporeans who cannot manage their own money.<

Is there also a scheme for people who can't wipe their own backsides?

Or perhaps a scheme for people who can't speak German? Let's have government scheme for anyone who is "challenged" in any field... heck the ideal human must be skilled at everything—from medicine to cooking — and have all the knowlege since the begining of humanity at his finger tips. Otherwise he is less than perfect and therefore requires government assistance in order to live properly.

redbean, I often wonder why you advocate the idea of "no personal responsibility" for S'poreans.

BTW, CPF is a tax. The belief that that "account" is "your money" is a total falsehood.

However, people are free to choose to believe in lies—otherwise there won't be any politics, religion, or advertising. :-)