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Thread: Central Provident Fund Board (CPF)

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  1. #1
    Join Date
    Jun 2010
    Posts
    346

    Post Central Provident Fund Board (CPF)


  2. #2
    Join Date
    Jan 2008
    Posts
    331

    Default

    i think the idea of a CPF is good but sometimes i feel that the authority should look into different scenarios of people or families that are in need of the money.

    i have a case whereby the mother has over $90K in the cpf and has no house to stay. she went to HDB to ask to if she could purchase a studio apartment which cost about the same amount as well but HDB said as part of the retirement scheme, she needs to maintain about $30k and therefore she needs to take out $30k+ in cash to buy. this woman is in the late 50s and earns about $2k+ a month. she is also not entitled to studio rental and her income exceed that. she is not stuck with rental of a normal bedroom which she is paying about $550/mth. with her take home pay of about $2k and a school going child and rental it's rathe tied for them. appealed to MP many times but said will write in and she has been waiting for a year liao.

    for such cases where people do not even have a roof to stay let alone talk about retirment plan, in cases like this, i thought flexiblelity should be excercise..

  3. #3
    Join Date
    Jan 2008
    Posts
    190

    Default

    i can emphatise with the situation. i not too sure what is the considering factors of HDB or the government. but i think they will soon revert with a good solution. just ask them to bear with it a while

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