Australians Allowed To Access Their Superannuation (retirement fund)

Australians Allowed To Access Their Superannuation To Ease Financial Hardship Caused By Covid-19.

The Australian Government is allowing workers and sole-traders to access up to A$ 20 000 of their superannuation( retirement funds), which serves the same purpose as our CPF, if their income or hours worked have fallen by 20 % or more because of the coronavirus.

Malaysia is also allowing its citizens to withdraw Ringgit 500 from their EPF ( equivalent to our CPF ) per month to ease their financial hardship, brought about by the coronavirus.

There is absolutely no reason why Singaporeans should not be allowed to withdraw from their CPF to assist with their living expenses if their income have dropped precipitously because of the crisis.

 

Lim Tean

 

 

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24 Responses to “Australians Allowed To Access Their Superannuation (retirement fund)”

  • oxygen:

    A LOT OF AUZZIES took out their superannuation BEFORE RETIREMENT AGE based on pleadings of “compassionate grounds.”

    Early access on compassionate grounds

    https://www.ato.gov.au/Individuals/Super/In-detail/Withdrawing-and-using-your-super/Early-access-on-compassionate-grounds/

    I got the bulk of mine out by that route within 48 hours on application.

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  • PAP CLOSE DOWN:

    Read somewhere that Australia is on the brink of a great depression. After aussies withdraw their superannuation and spent it all, will the govt help?

    oxygen:
    A LOT OF AUZZIES took out their superannuation BEFORE RETIREMENT AGE based on pleadings of “compassionate grounds.”

    Early access on compassionate grounds

    https://www.ato.gov.au/Individuals/Super/In-detail/Withdrawing-and-using-your-super/Early-access-on-compassionate-grounds/

    I got the bulk of mine out by that route within 48 hours on application.

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  • Lucky Australians:

    Poor Singaporeans have to push cardboards for $1 a day.

    You lucky Australians have GREAT pensions totally free.

    Singaporeans must be VERY ignorant to continue voting for PAP. In our old age, we have:
    - zero free pension
    - HDB going to zero
    - zero savings (all happily contributed to the untouchable reserve).

    What do you think?

    oxygen:
    A LOT OF AUZZIES took out their superannuation BEFORE RETIREMENT AGE based on pleadings of “compassionate grounds.”

    Early access on compassionate grounds

    https://www.ato.gov.au/Individuals/Super/In-detail/Withdrawing-and-using-your-super/Early-access-on-compassionate-grounds/

    I got the bulk of mine out by that route within 48 hours on application.

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  • Pap has the mandate:

    LOL….Fat hope in getting a cent from “your” CPF let alone bigger notes. “Your” CPF is the Singapore PAP Government money.

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  • PAP GOVT CHEATS PEOPLE:

    I am quite lazy to make comments but this makes me angry, very angry.

    Yes, I support this call.

    Greedy regime locks up our CPF money in all sorts of schemes. For example, why lock up $44500 in our Medisave?

    We need the money!!

    Ministers are paid millions so they don’t feel anything but not ordinary people. This is the meaning of being out of touch.

    Kick them out.

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  • MikeB:

    It’s the fault of the 70% wicked and selfish Singaporeans that gave them the authority.

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  • NotMyProblem:

    “There is absolutely no reason why Singaporeans should not be allowed to withdrawfrom their CPF to assist…”

    @Mr. Lim; is “Kosong” a good reason?

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  • PAPVID-20:

    When CPF monies are our own money and govt doesn’t even have to come out with any to help the people during this period of difficult time, there’s really absolutely no reason why govt won’t allow to touch our money now UNLESS ……. there’s a problem with our money?!!!!

    Come to think of it, if every CPF members were allowed to withdraw say $500 per month from our own account, that would be a lot of money for the CPF board to give out. But whatever the amount, there shouldn’t be any problem if our money remains intact. Unless our money ……. OMG! Did someone touch our money? Did someone use our money? Or did someone gamble and lost our money?

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  • Sgreans brainwashed:

    Malaysians job lost due to corona are allowed EPF withdrawal. SG jia sai!

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  • Help Us Help Ourselves:

    If money in our CPF is truly our money, please help us help ourselves.

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  • ganeshsk:

    “Early access on compassionate grounds”

    But with the PAP there is no such thing as compassion, so fat chance of withdrawal.

    let see what HSK says tomorrow on is 2nd support measure for Covid 19.

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  • The non-retirement CPF:

    We Sinkies are up against elitists from whom “compassion” is a haywire complex of avarice and capricious manoeuvres. Record numbers of old folks committing suicide in recent years….those still breathing are slogging like weary old apes for peanuts even the Swiss will find too dirt cheap.

    Top Minimum Wage Rates in U.S. DOLLARS. Leaving aside the local rates for the moment, here are the highest minimum wage rates by state for 2019.

    Washington, D.C.: $13.25
    California $12.00
    Massachusetts: $12.00
    Washington: $12.00
    Oregon $11.25 – 7/1/2019
    New York: $11.10
    California: $11.00
    Arizona: $11.00
    Maine $11.00
    Vermont $10.78
    Rhode Island $10.50
    Connecticut: $10.10
    Hawaii: $10.10

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  • Lucky Aussies n Msians:

    Aussies and Msians are very fortunate to
    have emphatic govs.

    Citizens of other countries can only afford to be envious.

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  • just the opposite here:

    in SG theyll try to squeeze more n more out of suffering citizens then lock it up for “safe keeping” it seems.
    heaven only knows if i can still withdraw at my drawdown age of 65 in a couple of years…due to gov bailing out all kinds of industries by the $bils due to the CV crisis.
    what about us low income or no income citizens? we die not your business????

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  • patriot of TUMASIK:

    No MONEY inside the Vault leh!!! what with the Heavy Losses in a STOCK PLUNGE worldwide

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  • Seriously:

    There’s a fat chance of that happening even with the outbreak.

    We have to keep waiting long long to fully access our CPF.

    Some highly paid politicians don’t know the meaning of compassion.

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  • Need help:

    Those who are badly affected should be given direct financial help .
    Especially those who lost their jobs and are having difficulties to pay for basic needs.
    Time to be kind.

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  • oxygen:

    @ PAP CLOSE DOWN

    Where did you read Australia is on the brink of a great depression? I got most of my super more than a decade ago BEFORE RETIREMENT AGE.

    How come Australia has not yet gone into “a great depression”?

    PAP CLOSE DOWN: Read somewhere that Australia is on the brink of a great depression. After aussies withdraw their superannuation and spent it all, will the govt help?

    Instead Australia escaped the GFC of 2009 and enjoyed this boom.

    Australia has gone 27 years without a recession—here’s what’s behind the country’s economic run.

    https://www.cnbc.com/2019/02/08/australia-has-gone-27-years-without-a-recession.html

    There is pension too.

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  • Soccerbetting2:

    Stated on Tr Emeritus website on 25th March 2020 :Quote – “The Australian Government is allowing workers and sole-traders to access up to A$ 20 000 of their superannuation( retirement funds), which serves the same purpose as our CPF, if their income or hours worked have fallen by 20 % or more because of the coronavirus.

    Malaysia is also allowing its citizens to withdraw Ringgit 500 from their EPF ( equivalent to our CPF ) per month to ease their financial hardship, brought about by the coronavirus.

    There is absolutely no reason why Singaporeans should not be allowed to withdraw from their CPF to assist with their living expenses if their income have dropped precipitously because of the crisis….. “Unquote.

    Response :I already proposed on Internet website many many years back to allow our CPF a small sum of every individual maybe about $5000 to be used, sort of a revolving credit scheme to help those who needed money to tide over during their times of hardship. So people don’t have to borrow from the bank and pay expensive interest rates to bank. However those evil beast PAP women wing will not be bothered to implement because there is no beneficial value to them to be obtained by implementing what I suggested.

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  • Educating Singaporeans:

    oxygen:
    A LOT OF AUZZIES took out their superannuation BEFORE RETIREMENT AGE based on pleadings of “compassionate grounds.”

    Early access on compassionate grounds

    https://www.ato.gov.au/Individuals/Super/In-detail/Withdrawing-and-using-your-super/Early-access-on-compassionate-grounds/

    I got the bulk of mine out by that route within 48 hours on application.

    Let me educate you, Singaporeans.

    It is clear from above that many people will lie so as to get their hand on the CPF.

    The Aussie government pay low salary to their civil servants therefore their civil servants are untalented people that can be easily conned.

    Quickly snapshot the above post by the loud mouth Oxygen and distribute it during SG election and also send a copy of it to Aussie embassy in SG.

    PAP.GUARANTEED.WIN.GE2020
    Vote PAP, Vote for 9% GST to give PAP 9 months bonus.
    PAP Huat, Huat, Huat arh

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  • Reeducating Singaporeans:

    “The Aussie government pay low salary to their civil servants therefore their civil servants are untalented people that can be easily conned.”

    Singaporeans, we pay million-dollar for “top-talent” civil servants. Compared to the top servants, 99.99% of Singaporeans are mediocre, far below mediocre, according to one top servant. So, unlike Australia, we should know who is conning who.

    Want to continue paying through the nose to be conned?

    Educating Singaporeans: Let me educate you, Singaporeans.

    It is clear from above that many people will lie so as to get their hand on the CPF.

    The Aussie government pay low salary to their civil servants therefore their civil servants are untalented people that can be easily conned.

    Quickly snapshot the above post by the loud mouth Oxygen and distribute it during SG election and also send a copy of it to Aussie embassy in SG.

    PAP.GUARANTEED.WIN.GE2020
    Vote PAP, Vote for 9% GST to give PAP 9 months bonus.
    PAP Huat, Huat, Huat arh

    GD Star Rating
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  • oxygen:

    @Educating Singaporeans

    OI OI OI, rubber tapper aka durian picker, go back to your Bohlehland. That is where you belongs to – ignorant countryside bumpkin.

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  • help the poor:

    Better to let the poor access to their CPF than resort to legal high-interest loan sharks to survive during this period.
    Set withdrawal limits to avoid abuse.

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  • PAP CLOSE DOWN:

    Probaably fake news. Thank goodness it’s not true.

    oxygen:
    @ PAP CLOSE DOWN

    Where did you read Australia is on the brink of a great depression? I got most of my super more than a decade ago BEFORE RETIREMENT AGE.

    How come Australia has not yet gone into “a great depression”?

    Instead Australia escaped the GFC of 2009 and enjoyed this boom.

    Australia has gone 27 years without a recession—here’s what’s behind the country’s economic run.

    https://www.cnbc.com/2019/02/08/australia-has-gone-27-years-without-a-recession.html

    There is pension too.

    GD Star Rating
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