We have individuals min-maxing CPF to give themselves a fat retirement while we also have individuals complaining that the government wants to control their hard-earned money in CPF. Generally, the former has CPF as one of their multiple pillars for retirement while the latter will have to depend on CPF and cash savings. There won’t be as much of a need for such a retirement scheme if humans are perfectly rational with self-control. No matter how strong we think our self-control is, humans have problems with delayed gratifications. We tend to prioritize the short-term over the long-term. This is especially so for the latter group, it will be a problem for themselves, their families and the country if they have unfettered use of their CPF funds, leaving them without any retirement plans. We will look at how CPF is a useful tool for us irrational humans. What Is The Purpose Of CPF?  ...