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24-05-2015, 01:53 PM
(23-05-2015, 07:59 PM)CCUV Wrote:(23-05-2015, 06:10 PM)egghead Wrote:(23-05-2015, 02:29 PM)CCUV Wrote: All the good things been said about SRS but have anyone considered the "shift in goal post" by the government. I think the shift in goal post in CPF is very well documented, from cpf investment bank buying share(last time every single dollar can go into stocks,to only 30% after meeting 20-40K min), extension of retirement age(they have being doing it), from capping withdrawn of housing use from special account,medisave life,cpf life etc. All these are sign that no policy regarding cpf including SRS are spare in the future. I can think of one potential rule change,for e.g withdrawal penalty are increase from 5 to 10% etc. I am abit wary of most government scheme. The good scheme might be one smart alex wanting to meet his KPI from turning bad. Food for thot
If you look at all the adjustments to CPF you mentioned, they were done in response to situation and circumstances. If you choose to call it shifting of goal posts, it means you do not understand why those changes were made.
You may have different view,i fully respect it but the bottomline is very clear,cpf members are been force to hold back their money from retirement, if everything was so good about our pension scheme which the big bro had been boasting about years of investment corp making x amount of return constantly ,there wouldn't be a need to delay. The state had fail it people in my view.
CPF and SRS if I may say, compliment each other. What's so bad about CPF? People keep complaining they cannot take out their money but they have already utilised the CPF money on housing, medical, education and even investment well before 55 yrs old! Even then, it's a total misconception and misleading to say you can't take money out at 55. You can if you have excess, that is, more money than the required minimum sum. You can then start to withdraw the minimum sum that you have 'left behind' in the CPF from the drawdown age of 62 (or is it 65?) Meanwhile, from 55 to
62 (65), your money in the CPF continues to earn you interest, risk free. No good??