There was a protest called "Return our CPF" at Hong Lim park on Saturday. The turn out was about 6000 people which filled up the whole field. The whole protest was centred on the frustrations that Singaporeans cannot withdraw much of their CPF savings for retirement and many Singaporeans can't afford to retire. In fact, it was reported that about 55% of Singaporeans do not meet the minimum sum and thus they can only withdraw $5000 out at age 55. The rest will be paid out monthly to each individual once they reach ages 62-65.
The retirement problem in Singapore
There are indeed people who can't retire in Singapore. Prices have been rising rapidly especially from the 90s till recently and Singaporeans would realise that their savings have somewhat diminished. $10,000 today is not worth as much as $10,000 30 years ago. $1 may be able to buy you a ......