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Allow withdrawal from CPF

I support a change in policy to allow members to withdraw from their CPF savings to cover a drop of income due to unemployment or reduced working hours.

CPF should allow the member to submit a standing order for the monthly withdrawal.

This is how it can work.

a) The member will submit a request
b) The monthly sum will be computed based on x% of the average monthly earning over the past one or two years
c) After approval, CPF will transfer each month the difference between the approved sum and the actual earning for the month
d) The transfer can be made into the bank account of the member.
e) This approval will last for 12 months. After that, a new approval has to be made.
f) If the member’s saving in CPF has run out, the member is allowed to continue the withdrawal by “borrowing the money from CPF”. A negative balance will be build up.

This withdrawal will deplete the member’s saving that is needed for retirement. While this may cause problems to be member after reaching retirement age, it will be a future problem.

For people with inadequate saving for retirement, they should be allowed to continue working (if they are still able bodied).

The solution is to provide part time work (say 4 hours a day) for older people that are not strenuous and that provide an income for them to live on.

Do you like this concept?

 

Tan Kin Lian

 

 

yyy
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22 Responses to “Allow withdrawal from CPF”

  • Soccerbetting2:

    Stated above :Quote -”I support a change in policy to allow members to withdraw from their CPF savings to cover a drop of income due to unemployment or reduced working hours.

    CPF should allow the member to submit a standing order for the monthly withdrawal.

    This is how it can work.

    a) The member will submit a request
    b) The monthly sum will be computed based on x% of the average monthly earning over the past one or two years
    c) After approval, CPF will transfer each month the difference between the approved sum and the actual earning for the month
    d) The transfer can be made into the bank account of the member.
    e) This approval will last for 12 months. After that, a new approval has to be made.
    f) If the member’s saving in CPF has run out, the member is allowed to continue the withdrawal by “borrowing the money from CPF”. A negative balance will be build up.

    This withdrawal will deplete the member’s saving that is needed for retirement. While this may cause problems to be member after reaching retirement age, it will be a future problem.

    For people with inadequate saving for retirement, they should be allowed to continue working (if they are still able bodied).

    The solution is to provide part time work (say 4 hours a day) for older people that are not strenuous and that provide an income for them to live on.

    Do you like this concept?

    Tan Kin Lian”Unquote.

    Response :Mr Tan KL failed to understand why the evil women wing government of LHL is desperately trying hard with using all sorts of law to hold onto our hard earned CPF and blocking everybody from withdrawing our CPF at age 55 and keep trying to defer our CPF from withdrawal as long as possible .The reason why government preaches to hold our CPF citing that it is helping us for our retirement needs is just a lousy excuse .The main purpose for holding our massive CPF is for the relevant government authority to use it as investment to make more money for themselves .And forever increasing healthcare costs to “eat” up all our CPF money so that the government can repay as little as possible .If the government let you all take out your CPF money early,so the pool of CPF money that the government can invest to make more money for themselves will become smaller and smaller and therefore revenue to government become smaller too !Get that logic and wake up ! The government is holding your CPF money basically for their advantage and use.So how will the evil women control government of LHL allow such withdrawal of the CPF money to procced ?

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  • Think. State pension.:

    “The solution is to provide part time work (say 4 hours a day) for older people that are not strenuous and that provide an income for them to live on.”

    All these rich people think that people must work until they die.

    It’s time to break out of the box imposed by PAP propaganda.

    Every citizen should get a state pension when they reach 65. At least $1000 a month.

    This is very easily affordable given the humongous size of OUR reserve. After contributing to the country for decades, it is our due. This is not welfare or free money.

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  • 4h job for elderly is ideal:

    4h x $6.25/h = $25 (MinWage?)
    Work Monday to Friday
    20 days x $25 = $500/mth
    Tpt $0.92 x 2 = $1.84/day ~ $40/mth
    Meals $5 x 2 = $10/day ~ $300/mth
    Rent? Utilites? Tel? Med?
    Balance: Nil.

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  • Soccerbetting2:

    Stated above :Quote -”I support a change in policy to allow members to withdraw from their CPF savings to cover a drop of income due to unemployment or reduced working hours.

    CPF should allow the member to submit a standing order for the monthly withdrawal.

    This is how it can work.

    a) The member will submit a request
    b) The monthly sum will be computed based on x% of the average monthly earning over the past one or two years
    c) After approval, CPF will transfer each month the difference between the approved sum and the actual earning for the month
    d) The transfer can be made into the bank account of the member.
    e) This approval will last for 12 months. After that, a new approval has to be made.
    f) If the member’s saving in CPF has run out, the member is allowed to continue the withdrawal by “borrowing the money from CPF”. A negative balance will be build up.

    This withdrawal will deplete the member’s saving that is needed for retirement. While this may cause problems to be member after reaching retirement age, it will be a future problem.

    For people with inadequate saving for retirement, they should be allowed to continue working (if they are still able bodied).

    The solution is to provide part time work (say 4 hours a day) for older people that are not strenuous and that provide an income for them to live on.

    Do you like this concept?

    Tan Kin Lian”Unquote.

    Response :Mr Tan KL failed to understand why the evil women wing government of LHL is desperately trying hard with using all sorts of law to hold onto our hard earned CPF and blocking everybody from withdrawing our CPF at age 55 and keep trying to defer our CPF from withdrawal as long as possible .The reason why government preaches to hold our CPF citing that it is helping us for our retirement needs is just a lousy excuse .The main purpose for holding our massive CPF is for the relevant government authority to use it as investment to make more money for themselves .And forever increasing healthcare costs to “eat” up all our CPF money so that the government can repay as little as possible .If the government let you all take out your CPF money early,so the pool of CPF money that the government can invest to make more money for themselves will become smaller and smaller and therefore revenue to government become smaller too !Get that logic and wake up ! The government is holding your CPF money basically for their advantage and use.So how will the evil women control government of LHL allow such withdrawal of the CPF money to procced ?

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  • xoxo:

    WHY SO DIFFICULT?
    HSK CAN LOOT $100 BILLION N DISHED OUT TO NON-sgs who stole sgs’ job$.
    Whats the BIG DEAL getting another $100 Billion to help our older sgs get by?

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  • Singaporeans R Free Riders:

    Hello stopid TKL,
    If you allow Sickaporeans to withdraw their cpf, they will spend all on screwing young girl young enough to be their daughter.

    After these Sickaporeans finished their money, they will came crawling back to our great PAP to ask for money assistance.

    This is real. Just look at the readers reply below.
    Do you want this to happen ?

    Zhenzidan:
    @Singaporeans R free riders

    And for your information, I no need to go to batam to look for meimei like what you all PAP ass-kisser have been accusing us for. Your stupid master supplied me with all these young pussies from overseas. Meaning not only your master give me money. They also supply me with foreign pussies. Shiok Man…..

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  • Billy_ma:

    On CPF issue, don’t it seemed fishy that PAP is so deadset to hold & retain our $$$$.

    It’s certainly not because PAP cares about our wellbeing or our future.

    So there must be something boiling in their pots in their insistence in keeping us from using OUR OWN $$$$.

    Those younger Singaporeans who had yet to feel the frustration of this CPF matter & wondering what’s all the fuss about, don’t worry your turn will come…eventually.

    When you grow old, PAP won’t care less about you if you got no $$$.
    PAP expects somebody to look after you.
    It’s not PAP responsibility to look after the aged.

    So the lies about PAP looking after our CPF is for our old age is pure bullshit.
    I need to eat now & not having to wait another 5 years to use my own $$$$.
    Can I go empty stomach for another month?

    As the society gets more grey, more & more citizens will be affected by this CPF issue.
    It won’t surprise me if indeed PAP be kicked out of power by this issue.
    It just a matter of time & the intensity of anger built up overtime.

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  • Eddie:

    In the first place: why approval is needed?? CPF belongs to you or not?? If it belongs to you, definitely you have all the right to take or leave YOUR money in the CPF. Similarly in Malaysia they have EPF and come maturity if not mistaken 60 of age; you just go to EPF with your IC and without any question, after all it is YOUR money, a cheque will be drawn in your favour for principal sum plus interests up to date of withdrawal. And of course you can use it for whatsoever (even giving it away, your prerogative) after all you have toiled and saved it for your own use.

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  • Hong the son of a:

    Before the covid,
    Many already facing job insecurity as economy was already not rosey and many start to worry if can retire.

    This covid caused record use of the Reserves. And we know what happens when given a drum stick.

    So, the CPF savings of many are already insufficient before covid. This is thanks to using our retirement funds for housing.

    Already, before covid , many feel they can kiss their cpf goodbye.

    Now leh ?
    Merry xmas and happy new year !

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  • Zhenzidan:

    Singaporeans R Free Riders:
    Hello stopid TKL,
    If you allow Sickaporeans to withdraw their cpf, they will spend all on screwing young girl young enough to be their daughter.

    After these Sickaporeans finished their money, they will came crawling back to our great PAP to ask for money assistance.

    This is real. Just look at the readers reply below.
    Do you want this to happen ?

    That reader you quoted no need to withdraw CPF. Your stupid master kept giving him money. Already he said he no need to go Batam and you are still repeating the same old shit. I know why. His cock still strong, so many meimeis like to suck, unlike yours:

    P-athetic A-sshole’ s P-enis G-etting U-nusually A-bnormal R-eaction A-fter N-oticing T-hat E-veryday’s E-rection W-as I-ncreasingly N-umb A-nd G-oing A-bsolutely I-mpotent N-ow

    Why? Now dare not use this moniker again? PAP.GUARANTEE.WIN.AGAIN

    Oh ya, you have another moniker SINGAPOREANS R FREE RIDERS, that stands for:

    S-hameless I-diot N-ow G-etting A P-iece O-f R-otten E-xcrement A-nd N-ext, S-howing R-etarded F-ace R-eminding E-veryone E-very R-ascal I-s D-oing E-verything R-eally S-hamefully!

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  • PAP had GAME the NATIONS coffe:

    Monday (23 November), Senior Minister of State in the Ministry for Sustainability and the Environment and Ministry for Transport Amy Khor launched the opening of the temporary bus stop 40331 at Blk 460D Bt Batok West Ave 9.

    Sharing images of the event on her Facebook page, Dr Khor can be seen cutting a ribbon at the front of the temporary bus stop.

    Quote

    Classic case of ” PAP GAME ” the nation’s COFFERS !

    NOT COUNTING THE 12 TO 15 MONTHS OF BONUSES WHEN BRENCHMARK OF 1.5% GDP THEY LOWLY ,EASY REACH AND MANIPULATE.

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  • CPF withdrawal:

    Should have some temporary support from the Government or a insurance scheme for those in financial difficulties because of job loss.
    As a last resort allow them to withdraw some of their CPF for temporary support with some safeguard in place.

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  • Zhenzidan. A great Poem:

    如果你要钱
    快看你的脸
    真是太可怜
    他们永远骗
    也不会改变

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  • Uncle Wong:

    Singaporeans R Free Riders:
    Hello stopid TKL,
    If you allow Sickaporeans to withdraw their cpf, they will spend all on screwing young girl young enough to be their daughter.

    After these Sickaporeans finished their money, they will came crawling back to our great PAP to ask for money assistance.

    This is real. Just look at the readers reply below.
    Do you want this to happen ?

    You’re an idiot and brain dead.

    Following your logic, then your employer should hold back your salary in case you spend it on screwing Batam girls.

    Likewise, your banks can only cap a withdrawal ATM limit for you or you might spend it all on screwing in Geylang.

    Stupid man.

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  • Uncle Wong:

    Msia EPF allows withdrawals so people can cope with the hardships during this pandemic.

    Many have their max Medisave amount locked up, amounting to $49,000.

    With MediShield why impose so much for Medisave?

    The average person doesn’t use so much of his Medisave a year if his Medisave can accumulate till $49000.

    The government should not be so heartless as to lock up people’s money.

    I’ve $49000 in Medisave but can’t touch it even though I need it to meet my daily expenses.

    This is illogical.

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  • Zhenzidan:

    Zhenzidan. A great Poem:
    如果你要钱
    快看你的脸
    真是太可怜
    他们永远骗
    也不会改变

    政府给我补助金
    惹怒一些马屁精
    看我拿钱不甘心
    把我视为眼中钉
    为了骂我非常拼
    我装聋子没去听
    弄得他们很揪心!

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  • Zhenzidan:

    Zhenzidan. A great Poem:
    如果你要钱
    快看你的脸
    真是太可怜
    他们永远骗
    也不会改变

    政府拼命给我钱
    不是因为我可怜
    而是他们爱掌权
    我一有钱又空闲
    所以去找小甜甜
    她们看我太多钱
    拼命向我身上黏
    下届大选多五年
    估计会再给我钱
    我的生活真齐全!

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  • A Better Solution:

    Why don’t the PAP government gives those unemployed citizens and old folks above sixty years old a monthly S$1,000 allowance for them to cope up. This allowance will be stopped once they get employed.

    Our government can afford it as they have a huge balance of money . This is the right time to help the people and get reelected during the GE.

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  • Zhenzidan:

    Uncle Wong: You’re an idiot and brain dead.

    Following your logic, then your employer should hold back your salary in case you spend it on screwing Batam girls.

    Likewise, your banks can only cap a withdrawal ATM limit for you or you might spend it all on screwing in Geylang.

    Stupid man.

    He is speaking from real life experience. His mother withdrew her CPF and squandered on many 小白脸 in Batam. After that she came back crawling to the great PAP who gave her pocket money. That’s why he’s so grateful to the PAP until and will always warn anyone who wants to withdraw their CPF that eventually they will squander away the money in Batam like his mother.

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  • Zhenzidan:

    A Better Solution:
    Why don’t the PAP government gives those unemployed citizens and old folks above sixty years old a monthly S$1,000 allowance for them to cope up. This allowance will be stopped once they get employed.

    Our government can afford it as they have a huge balance of money . This is the right time to help the people and get reelected during the GE.

    When someone can get $1,000 a month without working, you think he will want to look for job employment again? Every year, you know how many people reach 60 years old? This age group keeps increasing and if you keep giving money, then the govt will have to raise tax to meet the demand. I may be fucking the PAP govt many times, but I don’t anyhow oppose.

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  • Support lah:

    Better to have some temporary support than see cannot touch money in CPF.
    What is the point of the CPF if you are gone ?
    Better to take care of their present hardship issue…
    Actually Government should give some basic monthly support to our PG and MG in need…

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  • Improve Social net:

    Actually no need to withdraw CPF early if Social net for the elderly is adequate.
    Now very hard for the elderly to get any meaningful help from MSF…too many conditions and red tape. If sincere give fast lah….

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