Oct 3 2016, 01:02 PM
QUOTE(kpfun @ Oct 1 2016, 10:35 AM)
EPF should retain at least 50% of the sum for gradually withdrawal during retirement.
I have seen many folks who are pittyful begging for monthly allowance from their children, after spending all their EPF saving, either for self use, or family purpose.
I have seen many folks who are pittyful begging for monthly allowance from their children, after spending all their EPF saving, either for self use, or family purpose.
QUOTE(kpfun @ Oct 2 2016, 09:57 AM)
Frequent visitors to this thread generally are like you. But, I strongly believe that we are not the majority.
By visiting the threads like "AKPK, Debt Issues", and "CCRIS, CTOS, Blacklisted by Ban", we can know that how poor these people in money management.
Basically, their minds has nothing other than thinking of where they can borrow money!
I agree with you; that's the singapore CPF model. But if you talk to people in Singapore, they are not happy with that model. Why? Same as Msians, the gov don't want to give me the money I rightfully own and kept me away from itBy visiting the threads like "AKPK, Debt Issues", and "CCRIS, CTOS, Blacklisted by Ban", we can know that how poor these people in money management.
Basically, their minds has nothing other than thinking of where they can borrow money!
What they don't realise is, most of the time the gov is protecting themselves from doing stupid things with their own money and increase the social burden of the government in the form of free healthcare and other social support costs.
The only way to do this would be mandatory application to all contributors; when you leave it voluntary, everyone 'thinks' they have discipline over their own money, or money in my hands better than in the gov's hands and withdraw fully anyway
I expect it'll come some day, sooner or later they need to
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