CPF does not serve the needs of its members and should be amended/abolished

A man aged 62 and unemployed approached me. He has savings in the Central Provident Fund with interest of $5,000 accrued each year. He wanted to withdraw the interest earning to meet his daily expenses but CPF does not allow it. He asked me to raise this matter in my speech.

I want to raise a broader issue. It is not just the interest that needs to be withdrawn. In some cases, the member may need to draw out the savings as well.

There will be different groups of people with different needs. It is better for CPF to have a way to deal with these needs.

Here is my proposed solution.

Remember to vote (agree, disagree)

By Tan Kin Lian

Author: Gilbert Tan TS

IT expert with more than 20 years experience in Apple, Andriod and Windows PC. Interests include hardware and software, Internet and multimedia. An experienced Real Estate agent, Insurance agent, and a Futures trader.

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