A
blogger b said that the CPF fund is for retirement and not meant for a rainy
day. This is a very simple way of saying what the CPF money is all about. It is
for retirement. It is not to be kept forever like the nation’s reserves, waiting
for that rainy day that may not come. Oops, our CPF is also classified as the
nation’s reserve, so how? If it is the nation’s reserves then it is right to
keep it forever for that rainy day right?
Can
I say wrong? Everyone who contributes to the CPF never think of their savings
becoming the nation’s reserves to be kept for a day when the country needs it,
not you need it, it could be both. The people putting money into the CPF are
very clear that it is for their retirement. A retirement fund is simple to be
returned to them when they retired. When did they retire? It used to be 55.
Then change to 60, then to 62, then to 65. What happens if retirement age is
raised to 80? Possible, can? 100?
At
this moment, retirement age is 65, I think. So rightfully the money must be
returned to the people to use for their retirement. Tiok boh? Is the Medisave
Account, with a huge minimum sum, a retirement fund? How did this animal come
about? Why shouldn’t this be returned to the people when they retired? Or is
this another fund to wait for a rainy day? If wait for rainy day, then cannot
take out until the rainy day comes. If it comes, be grateful of this rainy day
fund. But it may never come.
How
many people put their savings in the CPF for a rainy day? Who changed the CPF
from a retirement fund into a rainy day fund?
There
is no point putting money into a retirement fund when you cannot take it out
when you retire. It defeats the meaning of a retirement fund. Can anyone see
the difference that I am making, or what b said? Is it so confusing? Who is
still unable to make out the difference between a retirement fund and a fund
for rainy day? A fund that you cannot take out when you retired is not a
retirement fund.
Kopi Level - Yellow