Pricy peace of mind: MoM chief defends hiked CPF minimum sum
http://sbr.com.sghttp://sbr.com.sgSingapore Business Review – 2 hours 47 minutes ago

ricky l • a second agoRemove
With CPF Life, $1,200 per month, for life, with Minimum Sum of $155,000 - it means $155,000 will bring us (82 years old - 55 years) = 27 years x $1,200 per month x 12 months = $388,800 pay out when reach 82 years old before kicking the bucket.

I thought the CPF scheme very good what.

Keep $155,000 as Minimum Sum and get back $388,800 at 82 years old in total - better than any bank interest or return in investment on any instruments out there.

Also By not withdrawing at 55 years old, you have the assurance that your money is growing. The Ordinary Account (OA) currently pays interest of 2.5% per annum while the Special Account (SA), Medisave Account (MA) and Retirement Account (RA) currently pay interest of 4% per annum. In addition, the first $60,000 of your combined balances (with up to $20,000 from your OA) earns an extra 1% per annum!

Actually alot of people want to put more money in because such a good return - but got rejected.
So don't understand the fuss and frustration on this CPF scheme. It give us so much goodies but people are throwing stone at it ??????????

Am i in the right world?
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ricky l • a second agoRemove

Just like any long-term instruments such as bonds, insurance saving plan, long-term fixed deposit etc, investors need to put in long-term and cannot liquidate the instruments until maturity - before gettng back both capital and interest.

CPF is the same instruments like any other market instruments - that attract such return on investments.

Why so many people are making so much noise on CPF while no one make noise on bonds, saving plan, long-term fixed deposit etc ?

Really don't understand leh?