When CPF announced the Lifetime Retirement Investment Scheme (LRIS) scheme few days ago, I was really irritated. I think CPF have failed to understand what people meant by “Flexibility”. To be honest, I am a big fan of the CPF Life scheme. It was very simple and clear.  If you haven’t heard of it, check it out here http://ladyyoucanbefree.com/2014/06/08/my-retirement-planning-project-2014-sgd-1-k-per-month-guaranteed-for-life-with-cpf-life/. I thought that was a brilliant scheme to bring peace of mind to folks who are on their way to retirement. It also gives their kids peace of mind that if they could help coach their parents to achieve that minimum sum target before their retirement, they are assured that their parents would at least have a decent retirement income for the rest of their life, thus the kids can finally focus on building up their own family and retirement. When I was sharing the CPF Life scheme with my friends, these were the typical feedback.

1. The government is just using ...

...