[sgbuffett]

This garment has made a big mess in our CPF $$$ for not letting majority of us retire happily?

Main problem in CPF has never been solved...it is inadequacy which it is very poor compared with other pension schemes.

This problem will just get worse and worse as Singapore has growing number of working poor ...People trapped in low wage work  because of low income they will have very low CPF savings.

The missing feature  in our pension scheme is the govt refuses to tax (the wealthy) to provide complementary funding. This is almost certain never to happen because the whole Singapore system is build on low taxation of the wealthy. Our starting point from independence is in total contrast with more equitable societies like Norway, Sweden, Finland, Germany etc. ..even Japan & Taiwan does better.

This "every man take care of himself" system is good if income gap is low. But with high income gap we will have rising poverty...retirement inadequacy and a multitude of problems.

Over time the PAP govt will lose its support as fewer and fewer people do well I  their system...

https://www.businesstimes.com.sg/governm...etirement/