Malaysia : Higher EPF contribution only benefits rich.... - Printable Version
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Malaysia : Higher EPF contribution only benefits rich.... - sgbuffett - 09-10-2022
Same issue with this type of system everywhere.
In Singapore thise richer are using CPF as a high interest rate fixed deposit topping up at max rate.
You need to have money to exploit it. It is good for those who have money.
But a pension scheme has another goal of ensuring those who are too poor and can never retire without help can also do so with the existence of such a scheme.
Today Singapore has highest income gap among developed countries. We see many working elderly and many are working even though they are in poor health.
https://www.thesundaily.my/local/higher-epf-contribution-limit-benefits-only-the-rich-report-EB9939262
RE: Malaysia : Higher EPF contribution only benefits rich.... - Wy:Nox - 09-10-2022
At a certain age, CPF Contribution rate drops to discriminate the start of silver tears.
RE: Malaysia : Higher EPF contribution only benefits rich.... - klat - 10-10-2022
(09-10-2022, 07:20 AM)Sgbuffet Wrote: Today Singapore has highest income gap among developed countries. We see many working elderly and many are working even though they are in poor health.
Aiyah, one ministar or many ministars already said, they are doing these unhealthy jobs for their daily exercise lah. Not for the money lah