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27 Nov 2019
Central Provident Fund
Suggestion View - 256
Change CPF to make it flexible

When the Central Provident Fund was created in the 1950s, the aim was to accumulate savings for retirement. CPF has changed over the years. It is now used for a variety of purposes, such as home purchase, medical expenses and insurance.  The govt still insists that CPF should be primary for retirement and has introduced schemes to defer the payout of a certain portion of the CPF savings to be drawn out throughout a lifetime. The delay in withdraw......



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11 Nov 2019
Central Provident Fund
Feedback View - 3
Why make self-employed top up shortfall CPF Board is creating?

The Contribute As You Earn (CAYE) scheme will start early next year and apply to freelancers working directly for the Government and public sector agencies (Help for freelancers on Medisave contributions, Nov 5). However, this is only half the problem solved, in particular for those who have sufficient Medisave funds and have reached their Basic Healthcare Sum (BHS) limits. While I agree with the idea of Medisave contributions to address healthcare needs, I question......



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04 Nov 2019
Central Provident Fund
Suggestion View - 2
Set up trust fund for funeral pre-planning

The Singapore Hospice Council's efforts to strengthen public awareness and knowledge of palliative care (Hospice council pleased with changing approach to end-of-life matters, Oct 30) reflect a greater urgency expressed by the Institute of Policy Studies for Singaporeans to discuss and prepare for their end-of-life matters (Report urges better end-of-life planning, July 13). More Singaporeans have also expressed a greater willingness to discuss personal end-of-life matters. ......



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25 Oct 2019
Central Provident Fund
Suggestion View - 5
Allow use of CPF to pay for egg freezing

I applaud the Government for reconsidering its ban on social egg freezing (Govt reviewing ban on women freezing eggs for non-medical reason, Oct 22). Single women who want to freeze their eggs face many financial constraints due to the high cost of the procedure. Hence, a pertinent issue that the Government has to consider is how to help them pay the medical fees for such a procedure. Government subsidies would probably be out of the question because ......



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24 Oct 2019
Central Provident Fund
Suggestion View - 3
Unclaimed monies: CPF Board could be more proactive

More can be done to encourage people to nominate the beneficiaries of their Central Provident Fund (CPF) savings. Perhaps retirees could be recruited to go door to door to speak to CPF members and explain the benefits of nominating beneficiaries and how to go about the process (Unclaimed CPF monies grow to over $200m, Oct 21). The seniors can be paid for each visit as an incentive. As the custodian of our savings, the CPF Board should do all it can to......



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17 Sep 2019
Central Provident Fund
Reply View - 3
Personal data released to counter misinformation

We agree with Mr Loh Kin Poh that the Central Provident Fund Board needs to ensure that CPF members' data is safeguarded (CPF Board needs to ensure secrecy of members' data, Sept 14). We uphold strictly the Government's data protection standards which are aligned with, if not more stringent than, the requirements of the Personal Data Protection Act (PDPA). For example, we have implemented measures such as Internet surfing separation which are not required in the PDP......



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14 Sep 2019
Central Provident Fund
Feedback View - 10
CPF Board needs to ensure secrecy of members' data

Yet again, another Central Provident Fund member has complained about the CPF Board. And once again, the CPF Board has responded on its Facebook page with details that read like the CPF member's financial history (CPF Board clarifies man's claim that he gets $15 in monthly payout, says unauthorised transfers to Medisave untrue, Sept 9, ST Online). Given the drive against fake news, the official reaction is understandable. Yet, whatever Mr Michael Toh Thiam Hock's mo......



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16 Aug 2019
Central Provident Fund
Feedback View - 130
CPF money: Yours, ours or the Government’s?

To whom does our Central Provident Fund (CPF) money belong? This question comes up regularly in Singapore, and two recent cases attracted wide public attention and deep sympathies among Singaporeans. In one case, a husband wanted to draw out his CPF monies to pay for his wife’s treatment at a private hospital.  She had reportedly been given a terminal diagnosis. In another, a father wanted to draw out his CPF monies for his daughte......



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26 Jun 2019
Central Provident Fund
Suggestion View - 111
Allow more flexibility on use of CPF to buy short lease HDB flats

The current CPF rules require the remaining lease of the property to be at least 20 years and to cover the youngest buyer up to age 95 before full CPF can be used. This forced the buyer of a resale property to buy a property with a long remaining lease. This is inflexible. It is also unwise for the following reasons: a) It forces the buyer of a resale property to buy a longer remaining lease property wher......



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20 May 2019
Central Provident Fund
Feedback View - 7
Changes to CPF, HDB rules present many challenges

The changes to the policies on housing loans and Central Provident Fund (CPF) usage are helpful towards reducing the liabilities of home owners who take a housing loan, and increasing their retirement income in the long term (Rules on HDB housing loans, CPF usage updated, May 10). However, the changes also add to home owners' stress in the short term. Furthermore, some home owners seeking to increase their retirement income by selling their flats may ......



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12 May 2019
Central Provident Fund
Feedback View - 656
Why CPF failed in its mission

Singaporeans save a large part of their earnings in the Central Provident Fund, including the contribution from their employer. But they do not have adequate savings for their retirement needs.  What happened? What cause this leakage?  Here are my perspective. a) A large part of the savings is put aside in the Medisave account and used wastefully for medical treatment and insurance. They make the ......



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02 May 2019
Central Provident Fund
Suggestion View - 15
Consider raising Flexi-Medisave limit

The current Flexi-Medisave annual limit of $200 is grossly insufficient for seniors and retirees with multiple chronic sicknesses necessitating very frequent medical treatments at public healthcare institutions. Consequently, the seniors have to pay cash over and above government subsidies for the many necessary visits to public healthcare institutions when they exceed the limit. My wife, who is in her 80s, had to pay $27.50 after subsi......



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04 Apr 2019
Central Provident Fund
Feedback View - 10
Link between retirement age and CPF payout eligibility needs to be clearer

All Singaporeans facing retirement over the next 10 years will be concerned about the impact of the retirement age on their finances (Singaporeans should retire at 70, says Mercer boss, March 31). At present, there is an ongoing discussion on raising the retirement and re-employment age, with the Government agreeing to maintain at age 65 the opt-in arrangement for CPF payout eligibility. The authorities should clarify two points to let ......



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04 Apr 2019
Central Provident Fund
Suggestion View - 150
CPF Life

Many people dislike CPF Life. They distrust it. They think that it is a scheme to take away their money. It is a bad idea to make CPF Life compulsory. It is better to offer CPF Life as a voluntary scheme and let the members make their choice.  If they have a choice, a large number of retirees may opt to buy CPF Life voluntarily. They will not argue about the features of the life annuity.  I carried out two surve......



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03 Apr 2019
Central Provident Fund
Suggestion View - 470
How to deal with the CPF mess

The Central Provident Fund was once the pride of Singapore. It has now turned into a mess. What are the issues? a) The savings in Medisave is, to some extent, used wastefully. b) CPF Life is unpopular and confusing c)  Too much money is used to buy HDB flat leaving very little money for retirement. Many low income people receive only $350 in monthly payout. d)  Many members want to take out their savings a......



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29 Mar 2019
Central Provident Fund
Suggestion View - 87
Give those turning 70 an option to further defer CPF payouts

The CPF Retirement Sum Scheme allows CPF members to voluntarily defer the start of their payouts up to a maximum of age 70. That is of concern to me. I have a friend who turned 70 last year and was allowed to defer her monthly payout only on appeal. The Central Provident Fund Board should allow members turning 70 this year to continue to defer the start of monthly payout......



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21 Mar 2019
Central Provident Fund
Negative View - 34
Please honor your original commitment on CPF

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07 Mar 2019
Central Provident Fund
Suggestion View - 323
CPF Life annuity should be optional

Some 15 years ago, the government formed a committee to study the introduction of CPF Life annuity. I met the review committee and gave my view - do not make CPF life compulsory, make it attractive. I wanted the CPF member to have a choice whether or not to invest in CPF Life. It depends on their individual need and preference. The review committee did not accept my sugge......



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06 Mar 2019
Central Provident Fund
Suggestion View - 588
Allow CPF savings to be withdrawn fully at age 55

I wish to give my views about the call for CPF savings to be withdrawn fully at age 55. I support this call.  Here are my reasons. a) A worker starts to contribute to CPF in the early 20s. By age 55, he would have worked for more than 30 years. That is a long time. b) He may need to CPF savings to pay off existing debt. This may be incurred during a period of unemployment or to pay medical bills or send childr......



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05 Mar 2019
Central Provident Fund
Suggestion View - 272
Relook at our CPF System

The CPF system used to be the pride of Singapore. It was a good and fair system. It was popular. It helped to build up the economic backbone of Singapore during our early years. However, the CPF system has become quite unpopular in recent years. Some of the complaints are: a) Low interest rate paid on the savings b) Frequent changes in the rules on the use of the CPF savings......



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26 Feb 2019
Central Provident Fund
Suggestion View - 217
CPF policies should be simple and logical

I totally agree with Dr Ho Ting Fei's suggestions (Make full CPF payout by age 70, Feb 23). The Central Provident Fund's (CPF) rules and policies should be simple and logical, instead of being complicated, confusing and potentially contentious. If savings can be withdrawn from the Ordinary Account at the age of 55, then the same spirit should apply for the Retirement Sum, in that members should be able to withdraw it at the retirement a......



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21 Feb 2019
Central Provident Fund
Suggestion View - 616
Withdrawal of savings from CPF

I give my views about the withdrawal of savings from the Central Provident Fund. When CPF first started, the withdrawal age was 55 years. Now, a large portion of the CPF savings are deferred to age 70 and can only be taken out in monthly installments.  Many members are angry about the delay in withdrawals. They insist that they be allowed to take out all of their savings at age 55. I like to give my views about this ......



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20 Feb 2019
Central Provident Fund
Feedback View - 426
Superannuation fund in Australia

An Singaporean, who has migrated to Australia, sent me this post to share his views about the management of his superannuation fund, compared to our Central Provident Fund in Singapore. Quote: Hi Kin Lian,  Please take a look at the video which the CEO of my super fund - UniSuper created to inform clients of whats been happening of late in the market. This is fund members like myself use and this video tells how the CEO sees the mar......



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28 Jan 2019
Central Provident Fund
Negative View - 175
Paying contribution to CPF

I submitted my contribution to CPF for January 2019. I used their online submission process.  I made the mistake of entering January 2018, instead of 2019. The website did not alert me to this error. It could, because I have been submitted the contribution regularly every month during 2018. The website calculated interest at the rate of 20% per annum for almost one year delay in payment. I thought that I missed a contribution in Ja......



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28 Jan 2019
Central Provident Fund
Suggestion View - 209
Purchase of property

The current govt policy is to allow CPF to be used to buy a leasehold property of at least 60 years. This is to ensure that the owner will have a place to stay for a lifetime, on the assumption that most people will buy their flats in their late twenties or later. The govt does not want to see the remaining lease run out while the owner is still alive. When someone buys a property with a remaining lease less than 60 years, he can still use CPF to pay ......



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24 Jan 2019
Central Provident Fund
Feedback View - 22
Don't blame the people for CPF rumour

The people should not be blamed for starting the rumour about Central Provident Fund (CPF) payout being delayed till the age of 70 (CPF Board refutes claims that payout age raised; Jan 20). And it is true that if a person does not do anything, then the payout will indeed start at the age of 70.......



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24 Jan 2019
Central Provident Fund
Suggestion View - 58
Wrong to compare S'pore with Netherlands, Germany

Lowering the payout eligibility age for CPF Life, currently pegged at age 65, will allow retirees to have more spare cash for their daily living needs, thereby lessening their cost-of-living burden (CPF Life payouts: Minimum age for withdrawal stays at 65; Jan 16). Manpower Minister Josephine Te......



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14 Jan 2019
Central Provident Fund
Feedback View - 18
Don't force consumers to buy plan that doesn't cater to them

CareShield Life, a new compulsory government-run scheme which will be implemented from 2020 for everyone between the ages of 30 and 40, is intended to replace the optional ElderShield scheme (Govt to run ElderShield scheme from 2021; Jan 8). While the objectives of the plans are noble, it is important that the public is given actuarial studies showing the claims experience and the probability of claims in Singapore for those between the ages of 30 and 40 for such long-term care ne......



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11 Jan 2019
Central Provident Fund
Feedback View - 8
CPF survey booklet sheer waste of paper

When deforestation is a contributing factor to climate change and there is much talk about ways and means of cutting down paper wastage, it is disheartening to receive a 20-page booklet from a government agency in the mailbox. I do not understand the logic behind the Central Provident Fund's (CPF) A4-size survey booklet, when such a survey could very easily be done online. Even the cover letter on the CPF booklet says as much. Why then is it necessary to have the pr......



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17 Dec 2018
Central Provident Fund
Suggestion View - 3
CPF Life payouts are not guaranteed

Dear Mr. Tan, I have read articles in the newspaper and was quite convinced that I could get a "higher" monthly payout if I continue to ensure I have a big sum of money in my Retirement Account. However, my CPF friends recently told me that the monthly CPF Life payouts are based on estimates/ projections, just like what you see in a Benefit Illustration for an Endowment insurance policy. These monthly payout values as illustrated in your articles and on CPF websi......



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