CPF Full Retirement Sum increased by 52% but $5000 withdrawal rule remains after 1 decade

Claiming inflation affects CPF monies, FRS has increased by 52% since 2008.

For CPF members who do not have the FRS, the amount allowed for withdrawal is only $5000. This amount has remained unchanged over the same period.

Does inflation not affect members who do not have the FRS in their CPF?

Why has the $5000 withdrawal rule remained unchanged?

 

 

Phillip Ang

* The author blogs at LikeDatOsoCanMeh.

 

 

 

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15 Responses to “CPF Full Retirement Sum increased by 52% but $5000 withdrawal rule remains after 1 decade”

  • All Bullshits:

    CPF is giving all excuses to lock your monies with them. Anyway, citizens still survive with no min RFS right?

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  • Blur sotong we are:

    Some of the weirdest ideas of all time have come to the CPF people figuring out “Math problems” … none of which had anything to do with sound Mathematics.

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  • Bapak:

    Becasue CPF has no money already. CPF, prove us this is fake news with figures. And don’t simply regards as spam mail. KNN!

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  • Ong PC:

    The writer is asking the wrong question because CPF is not meant to be withdrawn as a lump sum. CPF is to provide a monthly income, like an annuity. Any amount, no matter how little, that can be withdrawn is goodwill on the part of our govt. If the withdrawal amount is increased, people will just take advantage of the situation, squander all their money in Batam, and start asking our govt for handouts when their money runs out.

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  • grateful:

    I am very grateful that we have CPF

    My generation has it better than the current ones as our CPF contribution rates were higher. Grateful that I have this savings for my old age as my bank account is negative, not even zero. The CPF saved my life.

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  • LIONS:

    Why?
    Becos if nasi lemak cannot buy at $2,you can just eat roti prata.
    If roti prata becomes out of reach,you can just eat plain roti.

    But PAP will MAKAN ALL YOUR CPF sooner or later.

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  • karma:

    Read total PaKar CB in Pariah们 :”cPeeF NOT pupils $$$”
    KNNNCCB…Karma,pls carry out your duty upon whoreLiShit&LeiLang

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  • fpc:

    raising minimum sum amount increases the likelihood of cpf monies being trapped in the cpf or causes what should have been returned to the contributors, to be continued to be detained by the government, or if you want, loan longer to the government.

    there is therefore no incentive for the government to raise the 5000 limit because raising it, increase more outflow from the cpf. Why would the government want to do that?

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  • IB Ong Talk Cock:

    Why voters taking own money must depend on “goodwill” of the govt?

    The govt don’t need “goodwill” from voters meh?

    Today asking for own money already say cannot, and you are afraid to say no to people later asking for handouts when their money runs out from larger withdrawal?

    Ong PC:
    The writer is asking the wrong question because CPF is not meant to be withdrawn as a lump sum. CPF is to provide a monthly income, like an annuity. Any amount, no matter how little, that can be withdrawn is goodwill on the part of our govt. If the withdrawal amount is increased, people will just take advantage of the situation, squander all their money in Batam, and start asking our govt for handouts when their money runs out.

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  • Trust only onlyself:

    grateful:
    I am very grateful that we have CPF

    My generation has it better than the current ones as our CPF contribution rates were higher. Grateful that I have this savings for my old age as my bank account is negative, not even zero. The CPF saved my life.

    It could be much more money in your CPF with higher interests…….goondu.

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  • the withdrawal timing and quan:

    //My generation has it better than the current ones as our CPF contribution rates were higher. Grateful that I have this savings for my old age as my bank account is negative, not even zero. The CPF saved my life.//

    so jiak lat. that shows that even with your hard work (you still cannot have enough savings) and the lousy situation that many sinkies are in sinkie land even after many years of work and bringing up a family – assuming those who work hard and not the spendthrift.

    as for those who blunder with their saving plans, the world is full of examples on some rotten apples that do not make the whole harvest for the white mf idiots to decide (using as an excuse) for us (unsolicited and made mandatory) on the withdrawal timing and quantum.

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  • Zhenzidan:

    Ong PC:
    The writer is asking the wrong question because CPF is not meant to be withdrawn as a lump sum. CPF is to provide a monthly income, like an annuity. Any amount, no matter how little, that can be withdrawn is goodwill on the part of our govt. If the withdrawal amount is increased, people will just take advantage of the situation, squander all their money in Batam, and start asking our govt for handouts when their money runs out.

    For fiack sake, don’t keep telling us about squandering the money in Batam. Your mother must be keeping a 小白脸in Batam, that’s why you keep using this as an argument to parrot what the govt always said.

    I think you are Raywing, that idiot who likes to act like CPF spokesman on Facebook.

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  • Zhenzidan:

    grateful:
    I am very grateful that we have CPF

    My generation has it better than the current ones as our CPF contribution rates were higher. Grateful that I have this savings for my old age as my bank account is negative, not even zero. The CPF saved my life.

    I am grateful that I did not have too much of CPF. Otherwise my money would have benn locked up. They said when you turn 65, you will receive payouts. But who can guarantee they won’t change the rules again when you turn 65? You got no savings? Then you deserve to have your money locked up. I have my own savings. I even opened an overseas account in China and the interest rate is 4.5%! Difference is, I can withdraw after 5 years, the bank will not suka suka lock up my money!

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  • Liu Mai Shen Jian:

    This question rings a bell. Why GST is still applicable to companies with annual revenue of minimum $1 million since GST was introduced in 1 Apr 1994 ? No inflation meh? No logic. It should be $2 or $3 millions by now with inflation so that many small companies actually do not need to collect GST and we Singaporeans can have some savings. All the calculations seems always to the government’s advantage and not the public.

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  • Zhenzidan:

    Ong PC:
    The writer is asking the wrong question because CPF is not meant to be withdrawn as a lump sum. CPF is to provide a monthly income, like an annuity. Any amount, no matter how little, that can be withdrawn is goodwill on the part of our govt. If the withdrawal amount is increased, people will just take advantage of the situation, squander all their money in Batam, and start asking our govt for handouts

    Furthermore, never in the article did he mention about “lump sum payout”. Yet you, after smelling the fart of PAP, keeps repeating the same old shit again and again in your every post. I think I should reward your loyalty to PAP with this poem:

    Bloody Ong PC
    Everything about CPF we know already
    Don’t come here and be a lackey
    Repeating the same shit farted by PAP
    Don’t keep telling us about people squandering money
    How we spend our money you no need to worry
    Don’t keep repeating about the Batam story
    We know how to mange our finance wisely
    Unlike you, only know how lick asses blindly!

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