An Ex-CPF Employee Exposes the 3 Biggest Complaints Singaporeans Have About Their CPF Accounts

Few questions divide Singaporeans as much as this one – What is CPF used for? As you process your own answer to that question, chances are the words “retirement,” “housing,” healthcare” and maybe “Ponzi scheme” are running through your head.

But no matter what function(s) you think CPF serves, everyone faces the reality of having to pay their “dues” to keep the system going. That means contributing 20% of your salary (up to age 50) every month to a scheme that only benefits those who vastly surpass the current minimum balance of $148K. Sadly, more Singaporeans who have money in CPF and need it can’t even touch it.

An ex-CPF employee named “Brian” (who wishes to remain anonymous for very obvious reasons), who deals with the valid concerns of Singaporeans daily, was kind enough to help us shed some light on what Singaporeans complain about most when it comes to their CPF accounts.

Here are Singaporeans' 3 biggest complaints about their CPF accounts:

As CPF is not so flexible in allowing us to use the funds in it, we should try to avoid relying solely on CPF for our retirement. Retirement will not be sufficient if one only wishes to depend on CPF or government assistance.

More information can be found in Yahoo Finance!