Cover article in The Malay Mail 27 Nov 2014 Yet again we read about retirees who have depleted their EPF savings within a few years after withdrawing the entire sum upon reaching retirement age. The reasons they give run the gamut of expenses from their children’s wedding to house renovation. Many use the money to […]
WE NEED TO BE SELFISH IN OUR RETIREMENT Read More »
Poster calling attention to four demands I have just listened to Roy Ngerng’s speech delivered at Hong Lim Park, Singapore, on 7 June, 2014. All 46 minutes of it. For those interested, there is a transcript plus a Chinese translation posted on his blog at The Heart Truths. This CPF (Central Provident Fund) minimum sum
PENSIONS & RETIREMENT FUNDS – A LOOMING CRISIS? Read More »
Retirees come from a myriad of backgrounds. But one thing they have in common – an accumulated pool of financial resources to draw from by the time they turn 60. The size of this pool is determined by how much they have been saving during their working years and how well they have been managing
PROTECTING OUR NEST EGG FOR THE GOLDEN YEARS Read More »
Report in The Star 16 August 2012 This post is mainly to keep a record of public announcements made by the EPF on the issue of withdrawals. Decisions made in haste without sufficient time to hear the views of all stakeholders often result in the authorities involved having to retract their earlier statements. This ‘flip-flopping’
SAY NO TO PREMATURE WITHDRAWAL Read More »
While awaiting the EPF Act 1991 to be amended which will likely take three to five years, contributors can still withdraw the full sum at the old retirement age of 55. When the government raised the retirement age for the private sector from 55 to 60, contributors to the Employees Provident Fund (EPF) were concerned
WHY IT MAKES SENSE TO LEAVE YOUR MONEY IN THE EPF Read More »
It is our parental duty to provide a good education for our children. That can mean right up to post-graduate studies. Scholarships offered by the public and corporate sectors are very competitive, especially in Singapore. Not all parents can afford to support their children through university. To meet this need, both the CPF (Singapore) and the
SHOULD ADULT CHILDREN REPAY A LOAN FROM THEIR PARENTS? Read More »
It is a fact that many retirees are struggling to cope with their living expenses. A survey carried out by the Employees Provident Fund (EPF)in 2004 showed that 99.9% of contributors withdraw all their savings in one lump sum after they retire at 55. 70% of them deplete their EPF savings within three years of
A DAILY STRUGGLE TO SURVIVE Read More »
