Msia EPF system differs from Spore CPF. This explain why for Msian it is easier to lay hands on those funds unlike us. Furthermore 50 years already can touch whereas for us it is at age 55 make sure fulfill X dollars (this year is 192,000) go into some Retirement Account to earn interest to be put into CPF Life annuity plan at age 65 onwards to draw a monthly allowance from that plan. After deduct the 192,000 any remaining then can take out. Then the monthly allowance start at age 65 onwards. What if you got short life?

So Spore expect their citizen live super long life and hence come out with this CPF Life annuity scheme which means to lay hands on those funds you better live long life. I dunno if this is good but for me come on I prefer Msia EPF to lay hands early at age 50 instead. Work like dog whole life must wait until age 65 and furthermore those is monthly allowance not lump sum withdrawal also. Spore smart let the same batch of old ppl feed each other. Those short life rugi and subsidize those live long life in that annuity plan.