[Bigiron]

Closure of CPF Special Account: Options available for those with withdrawable SA balances, says Tan See Leng

During his ministry's Committee of Supply debate, Dr Tan addressed public concerns about the closing of the SA for CPF members aged 55 years and above in 2025 — a move first announced by Deputy Prime Minister Lawrence Wong during his Budget speech on Feb 16. 

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[Ola]

Dr Tan explained that the move was necessary for two main reasons: the doubling of members voluntarily topping up their CPF accounts from 2020 to 2022 . . . 

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Top- up was pushed by SBQ because they are 88,400 GIG Workers in 2022

Why punish them for topping- up

Go and punish SBQ, lah.

[sgbuffett]

Please read this statement 

The manpower minister also addressed MP Foo Mee Har's suggestion to grandfather the SA of CPF members aged 55 years and above.

"Such a suggestion will inadvertently create a generational divide — benefitting the current generation of older Singaporeans while disadvantaging the younger generations

Look at the above statement. He says that CPF SA benefits current generation if it is not removed.

So why not just leave it there to benefit all generations?

Why is this PAP govt that claims it is helping Singaporeans retire doing something that does not benefit our retirement.

It is not right.