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source: http://www.tremeritus.com/2015/07/02/writ-of-possession-issued-against-man-with-terminal-cancer/ Not sure how accurate this story is .. but seems such a sad case. Sell house but cannot get money to treat his cancer. Is it that difficult to touch the CPF even if may die before reaching 65?

Who feels this way? In fact, if u consider that when you die or no longer need a home and u sell ur house u will calculate that most of us will actually get paid to stay at your home! And because of our forced tax/savings called CPF, we can own a home purely by using this fund (which u cannot see if u dont use anyway). So housing in SG is free or more accurately, u get paid for buying a house (when u or kids evetually sells it)!

I have a CPFOA investment account with DBS for normal shares investment. But how do I invest in gold using CPF? (that 10% from total investible)

SINGAPORE'S Central Provident Fund (CPF) system ranks top among similar social security systems in Asian countries, but it is Denmark's well-funded pension system which has emerged the best globally. The 2014 Mercer Melbourne Global Pension Index identified Singapore's CPF is a "sound structure, with many good features, but has some areas for improvement that differentiates it from an A-grade system". The Singapore retirement system continues to score a grade of B, but is expected to be upgraded once shortcomings are addressed, said Neil Narale, Mercer's Asean Retirement Business Leader. "The lack of tax-approved group corporate retirement plans and retirement savings for non-residents continues to isolate Singapore from other highly-graded countries on the global scale," he said. http://www.globalpensionindex.com/country-summaries-2/singapore/ http://www.businesstimes.com.sg/government-economy/singapores-cpf-system-ranked-top-in-asia-denmarks-system-leads-globally-mercer

Dear All My dad last time had used his cpf to buy Sbs transit share using cpf only. The previlige is that he is able to buy the bus stamp which he likes.. Ill fate has fallen upon him and now he is literally deaf in both ears.... cause of that he cant really hold permanent job and he is due to get his money from cpf which is not that much soon...now he wants to sell half of it and i have been calling cpf... and up to now i was asked to call here n there... may i know if any1 here has any contacts or know how to sell...but he wants to sell only half cause he still wanna keep some so he can still buy the bus stamp.... will they still allow him to buy if he sells half of his share

5 MAJOR FACTS ABOUT SINGAPORE THAT EVERY SINGAPOREAN SHOULD UNDERSTAND http://theinfluencermedia.com/2014/07/20/5-major-facts-about-singapore-that-every-singaporean-should-understand/ Lately there has been an ongoing trend of Singaporeans lashing out at the government, voicing out unhappiness and dissatisfaction. We saw a article of how we are ranked in the top most expensive cities, we had Roy Ngerng causing a huge stir about the CPF system, we had photo comparisons of what a 3-room flat in Bishan can be like a bungalow in Pennsylvania. Many people are saying that our ministers are getting paid too high and there is a large widening gap between the rich and the poor. To make things worse, the recent boom in foreigners has caused upset amongst Singaporeans, citing that Singapore has less Singaporeans than foreigners. We love comparing to successful first-world countries. Oh, look at how great Germany is doing. Look at how wonderful it is to live in the Scandinavian countries. It will be so much better to migrate to the UK or Australia. What I can tell you is that if you are someone who follows world news, global economics and politics closely, you will realize that every country has their own problems as well. 1) Population Control A.K.A. Why are there so many foreigners in Singapore? No, Singapore is NOT the only country that is facing an immigration issue. The United Kingdoms, Germany, Australia, United States of America, Canada is also facing the same issue. Ironically, these are the countries that Singaporeans want to migrate to because they believe they can enjoy a better lifestyle there. Before you start to tell everyone about your dreams to migrate, have you considered that when you migrate to a foreign country, you automatically become one of those foreign immigrants which Singaporeans are so upset about? Here is the hypocrisy when Singaporeans point out they are not happy that so many foreigners are overtaking Singapore, and Singaporeans say they want to migrate to other countries, and eventually they end up being a foreigner in a different land. And this is exactly how our first-world counterparts feel. People in Europe and the U.S. are complaining that there are so many Asians flowing into their country. Their own local populace is also crying out that there are too many people coming into their country. And this is why we must look into the reason on why immigration happens. People immigrate in hopes of finding a better lifestyle than staying in their home ground. Countries allow immigrants to come in, if they can provide the countries with benefits. Why has Singapore become a hotspot for immigrants? Let me introduce to you jobs which pay about $1,600-$1,800 a month, to do cleaning services, waitressing, laundry, bus operators, cashiering, clerk assistants or construction labor. Too many proud, and elitist mindset Singaporean graduates want the easy life and cannot handle hardship. If every Singaporean refuses to do blue-collar jobs, who will do it? Who will be the ones who keeps our streets clean, construct awe-inspiring buildings like the Esplanade, Singapore Flyer, Marina Bay Sands, operate our MRT and bus services, serve our food at restaurants, maintain proper roads and infrastructure? 5 marina_bay_singapore The governments and employers have no choice, they need to open up the job offer to anyone outside our country, who are hungry for jobs and dont mind taking up the offer. And yet certain, bad-mouthing Singaporeans still complain that they get bad service from foreign workers. The notion here is, If you think you can do a better job than them, go ahead and do it instead of complaining 2) Treating the CPF system like it is a complete scam A certain blogger Roy Ngerng has churned out many infographs about how menacing the CPF system is. While the the information cannot be proved to be true, what we can comprehend is very clear. Personal income tax in Singapore averages 6.5%. The top marginal income tax you could ever hit is 20%. CPF contribution is also another 20%. This may sound harsh to you, but please take note that in other first-world countries, their personal income tax is higher than our maximum 20%. Some countries go up to 50%. Thats like an employer promising you a $4,000 salary but you only get to take home $2,000. In Singapore, we may only take home 70-80% of our net supposed salary. However, 20% of that amount is still technically yours. Unlike other countries, our government has not completely removed that 20% away, never to be seen again. It is simply kept in a retirement account. And the bonus is that you can still use your CPF to pay off any medical bills, insurances and housing bills. The CPF money can still be used and planned to a certain extent. I dont know about you, but I much rather have 20% in a retirement account than have it completely taken away by income tax. No matter how bad you might assume CPF is, its already a system that is much better than 90% of other countries. If you blatantly say you just want to migrate to other countries because there is no CPF there, you are forgetting something called 2-3x higher income tax rate 3) Complaining about Real Estate and Car Prices Thousands of motorists sit stuck in the Ladies and gentlemen, this is what our roads and highways will look like if the government makes car prices as low as that in the United States ($20,000 avg.) If we let every Singaporean have the privilege of owning a car, we will have infinite traffic jams, and even commuters who choose to take the bus will find themselves caught in these massive jams. Even motorcycle users will be affected. Air pollution indexes will raise higher than what our forest fire hazes have given us, and everyone will have to walk out with N95 masks everyday like the situation in Beijing. Is this what you want? Low car prices? Flash news! Singapore is an island state that is no more than 42km wide. It is irrational to blame the government for having such a small island to work with. Since we are born into a small country state, maybe its time to accept the fact that not everyone can be allowed to own a car. The COE system is put in place so that people with higher status, eg. businessmen, professionals, managers, politicians who have a bigger need for cars can afford the $70,000 to travel around. The notion here is that if you cant afford a car, simply settle for public transport. It only takes a maximum of 1 hour 15 minutes to travel from Tampines to Jurong via MRT. Anyway, if you are a financially educated person, you will know that owning a car is having more liabilities, which is a bad financial decision especially if you are aiming to get rich ASAP. In a way, the government is discouraging people from buying cars, which is not necessarily a bad thing. Which brings me to my point of soaring real estate prices in Singapore. HDB_10_2_1 We simply love comparing that our $400,000 3-room flat in Tampines/Bishan can afford us a freakin Villa (complete with poolside and balcony) in Thailand or Mexico. Let me emphasize again that we are a small island, so it is simply irrational to blame the government for having such a small island. We cannot build 1,000,000 Villas for the 1,000,000 households in Singapore for everyone to live in. There is not enough space. This is common sense that you cannot fit so many big houses into a small country. Take a look at other countries who are suffering from land shortages. Real estate prices in Hong Kong are more expensive than Singapores. Japans real estate prices is almost similar. Everywhere in the world, real estate prices are generally rising due to demand and supply from people who need a house. Another notion here is, if you cannot afford to buy a big house, settle for a small one, or just rent out a flat. And if you really want to live in a Villa with $400,000, please consider migrating because you wont find anymore hope here. 4) Difficulty of finding employment, even with a degree In agreement to point number 1, its really not the case that its hard to find employment in Singapore. Its more about us Singaporeans being too elitist and picky for own good. What do most of us always say we want to be upon graduation? 9168898_orig Oh, I wanna be a [insert industry here] manager Well, captain obvious, if the entire population dreams of becoming a manager, who will become the employee? Think about that just for awhile. Working as an employers assistance, I have posted out job listings calling for receptionists and customer service executives needed for SMEs. The pay given was $2,200, which includes potential commission if sales deals are closed over the counter. I specifically stated that the education level required was not necessary, as long as the applicant knows how to speak fluent English and their natural mother tongue. The catch? You must commit to a 6-day work week, 9 hours a day. This sounds like a grind, but, I got 0 replies from Singaporeans, and 20 replies from foreigners. You see, its not that its hard to get a job in Singapore. Its just that if everyone wanted to become managers, theres simply not enough. Once again, simple demand and supply concept. As for people who rant about how so many foreign workers are taking up managerial positions and commanding Singapore employees to do jobs instead, I believe that from a HR perspective, these foreigners have already achieved a good reputation through networking and work experience. Because honestly, if you are a Singaporean with a good track record of experience, and your foreign rival has no experience at all, any logical HR manager will hire you instead. Before we start jumping to conclusions, we need to take a step back and appreciate that some foreign workers indeed have the necessary years of experience required and have displayed good working habits in order to get the promotion to a managerial role. Trust me, if you set up your own business one day, and get a chance to be your own boss, you would also choose your employees based on their work attitude, personality, and years of experience. Nationality is a very weak subject in the world of employment. 5) No explanation needed Singapore-River 1_marina_bay_night_2012 Our government has transformed Singapore from 3rd-world kampung island to 1st-world global recognized state in a matter of 40 odd years. If you cant even appreciate this fact, its time to do some self-reflection of whether you can do a better job in their shoes, if we reset time to 1965. Jackie Loh Writer The Influencer Media

http://www.channelnewsasia.com/news/singapore/most-elderly-singaporeans/1415888.html Aside from reading this as a piece for increasing the age of retirement, but somehow the numbers don't seem to match...80% confident, 37% feel little to worry, 46% ave or poor finances? Generally on the ground, I find the elderly more negative about their futures. Sitting in older estates kopi tiam can hear alot of stories... Also wondering whats the rational in determining our life starts dropping at 65?

Newspaper Article - 'A breach of the CPFs fundamental principle'

http://forums.hardwarezone.com.sg/eat-drink-man-woman-16/pap-mp-hri-kumar-must-panicking-now-4711385.html I like the part where the lady asked"any representatives from cpf here?" Apologies if this has been posted here already.

yahoo news: 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: 1. It’s Nearly Impossible to Access Your Retirement Account (RA) Funds The biggest limiting factor people have when it comes to their CPF accounts is the fact that their Retirement Account (RA) funds are about as inaccessible as Area 51 until you reach the drawdown, which varies from 62 to 65 depending on your year of birth. The problem with having an inaccessible RA account is that it leaves Singaporeans still servicing their home loan with their CPF in a helpless situation because: Retrenchment: No income means they can no longer make contributions into his/her Ordinary Account (OA). Contribution level: The contribution level decreases significantly after 55, making it harder to meet the minimum cash component in RA. “It’s sad, there were several occasions when we had to direct Singaporeans to HDB or the banks because our hands were tied – we couldn’t release their funds to them even though they may have thousands in their RA to help with their home loan repayments,” says Brian. Ironically, the only exceptions for using your RA funds involve purchasing property under the following conditions: You can only use the excess in your RA AFTER setting aside the minimum cash component, which is currently $148K. Of that $148K, you’ll need to maintain $74K in your RA, with the excess (excluding annual interests) being available for the purchase of property. *Note on property purchases: According to Brian, there is a way for you to use your OA towards purchasing property. If you have booked a BTO flat before turning 55, you can write in to CPF to have funds from your OA reserved for the purchase. In fact, Singaporeans have been successful in having these requests approved. 2. You Can’t Withdraw As Much from CPF at Age 55 Just a few years ago, if you turned 55 before 2009, you could have withdrawn 50% of your combined OA and Special Account (SA) funds! So if you had today’s current minimum sum of $148K, you could withdraw $74,000. Then in 2009, the limit dropped to 40%. And then… well, I think you know where this is going right? Let’s just say that CPF reduced the withdrawal limit faster than an Indonesian palm plantation owner reduces forestland. Today, if you don’t have the full minimum sum of $148K – you ONLY get $5K. The rest gets sent over to your RA, which you probably won’t see for another 7 to 10 years. The biggest complaints Brian received about the inability of some Singaporeans to get more than $5K were: Couldn’t pay off debts: Singaporeans who were financially troubled and had debts to pay off could not pay them even though they had thousands of dollars in their RA. In danger of home repossession: Singaporeans who were having trouble keeping up with their home loan repayments due to retrenchment or financial difficulty couldn’t access the money they needed to maintain their repayments even though they might have had $50K in their RA. Couldn’t go on pilgrimage: Many elderly Muslims who were waiting till age 55 to use their funds to go on pilgrimage (Hajj) were left disappointed when the amount they could withdraw wasn’t enough. *Note on pledging your property: Brian points out that if you’ve used your CPF to purchase a home, you can opt to pledge or increase the pledge of your property. So if you just turn 55 this year and you’ve got the full minimum sum of $148K, you can pledge your property up to $74K, freeing up the “excess” $74K in your CPF for withdrawal. 3. There Are Times When You CAN’T Use CPF for Housing When you buy a home, there’s a limit to how much CPF you can use to purchase a home, called the Valuation Limit (VL). The VL is determined by the lower value of either the market price or the valuation price of a home, and you cannot withdraw more than 120% of the VL, which is called the Withdrawal Limit (WL). So what happens when you reach the VL of your home? If you’re below 55, you’ll need to maintain either half the prevailing minimum sum cash component (Your OA+SA+SA investments) or the minimum sum cash component in your RA if you’re over 55 (and you can only use your RA excess to service your home loan). If you don’t follow these conditions, you CAN’T use your CPF to service your home loan. Not knowing when you can’t use your CPF to service your home loan is a huge reason why people contact CPF, especially when Singaporeans: Reach their VL before age 55 and haven’t maintained half of their prevailing minimum sum cash component (OA+SA+SA investments). Reach their VL after age 55 and haven’t maintained their minimum sum cash component in their RA (only RA excess can be used!). Surpass their WL. CPF Staff Are There to Help, But They Don’t Make Policy “We understand that CPF needs to be more flexible in allowing Singaporeans to use their funds. What’s the point of having thousands of ‘untouchable’ dollars set aside for retirement when Singaporeans are dealing with financial difficulty now? But we do our best to help people out as much as possible,” says Brian. Brian also stated that the complaints above made up about 70% of their total communications. That’s A LOT of daily gripes to deal with. Most Singaporeans have their reasons to complain about CPF. If you’ve read Dear CPF: Give Me Back My Money, you know just a few of the many grievances people have with the scheme. But before you call up or email CPF to give them a piece of your mind, please remember that the hard working employees don’t set policy – they’re there to help you as best as they can. Link: http://sg.finance.yahoo.com/news/ex-cpf-employee-exposes-3-160000084.html So.............. thats what peoples had been saying all this while. Can See The Money But Cannot Touch ....