Just when you thought nothing more can be done to ensure CPF money are not withdrawn as early as possible, the Singapore government, through Minister of Manpower Josephine Teo, announced that the retirement would be raised.
The reason cited by the Minister is that senior citizens are now enjoying more years of good health, and thus demonstrate a sustained productivity at work. The current retirement age stands at 62, and the re-employment age set at 67, but these are set to be raised, although the exact timing of when this would be done have not been announced.
No one has said whether those actually affected, the seniors themselves, agree to this raising of the retirement age. CPF sum gets another injection of funds, first by announcing an increase in minimum sum, then subtle increase in withdrawal age, and now tweak to retirement age, to ensure CPF money stays in the coffers. If you harbour any hopes of seeing your full CPF amount while you are still fit and healthy, forget it. The Government already made the decision for you, you are told to work even if you want to retire.
