1. Your Minimum Sum Keeps Going Up
The explanation here is that once the Minimum Sum is set for you, your Minimum Sum doesn’t go up anymore even as you grow older. That’s a valid point, however most of the public’s concern is not this but that the Minimum Sum keeps going up every single year and the rate of increase is astounding to most people.
Firstly, Minimum Sum will have to increase for sure due to inflation. If the Minimum Sum is meant to provide part of the retirement income, it cannot stay the same when expenses keep ......During Tuesday’s parliament session, Deputy Prime Minister and Minister for Finance Tharman as well as Manpower Minister Tan Chuan Jin attempted to explain some of the myths around the CPF system. It is a good effort, but more needs to be done on educating the public about the CPF system.
1. Your Minimum Sum Keeps Going Up
The explanation here is that once the Minimum Sum is set for you, your Minimum Sum doesn’t go up anymore even as you grow older. That’s a valid point, however most of the public’s concern is not this but that the Minimum Sum keeps going up every single year and the rate of increase is astounding to most people.
Firstly, Minimum Sum will have to increase for sure due to inflation. If the Minimum Sum is meant to provide part of the retirement income, it cannot stay the same when expenses keep ......
1. Your Minimum Sum Keeps Going Up
The explanation here is that once the Minimum Sum is set for you, your Minimum Sum doesn’t go up anymore even as you grow older. That’s a valid point, however most of the public’s concern is not this but that the Minimum Sum keeps going up every single year and the rate of increase is astounding to most people.
Firstly, Minimum Sum will have to increase for sure due to inflation. If the Minimum Sum is meant to provide part of the retirement income, it cannot stay the same when expenses keep ......
