![](https://i.imgur.com/CLvY2jA.png")
07-08-2022, 11:50 AM
You love CPF does not mean it is suitable for everyone.
You hate CpF does not mean it is bad for everyone.
In this video, Honey money answer to CPF haters
and also called CPF protestors misguided. I disagree with his content though it is factually correct it gives only half the story.
Why many people love the CPF and why they keep topping up? These topups have hit record levels.
CPF offers fixed interest far higher than banks so many are happy to take advantage. There is nothing wrong with this. There is a big class of people with excess savings and they already have various investment assets so they see CPF as part of their overall finances providing interest rate higher than the banks.
The reasons why people hated the CPF is this. The CPF takes a massive portion of lower middle income and low income to force them to save for retirement but at the same time does not guarantee any fixed min pension they can live on.
The CPF protests occurred from a small trigger of minimum sum being increase. For many poor people with 20K or 30K they cannot retire with CPF locking the money up another 10yrs from 55 and 65 ..they rather get it earlier to solve some of their problems today. The issues and problems since the CPF protests have never been addressed.
You hate CpF does not mean it is bad for everyone.
In this video, Honey money answer to CPF haters
and also called CPF protestors misguided. I disagree with his content though it is factually correct it gives only half the story.
Why many people love the CPF and why they keep topping up? These topups have hit record levels.
CPF offers fixed interest far higher than banks so many are happy to take advantage. There is nothing wrong with this. There is a big class of people with excess savings and they already have various investment assets so they see CPF as part of their overall finances providing interest rate higher than the banks.
The reasons why people hated the CPF is this. The CPF takes a massive portion of lower middle income and low income to force them to save for retirement but at the same time does not guarantee any fixed min pension they can live on.
The CPF protests occurred from a small trigger of minimum sum being increase. For many poor people with 20K or 30K they cannot retire with CPF locking the money up another 10yrs from 55 and 65 ..they rather get it earlier to solve some of their problems today. The issues and problems since the CPF protests have never been addressed.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
