CPF is our money or Government saving???

Our saving definately. The reason being is Singapore are simply one of the pro money spender. Just take a typical teenager 18 years old nowadays. Went on orchard window shopping, saw K910i sony ericsson hp. Wah~ nice~ Buy! $300+ gone~ Went on further into sport shop, saw latest Nike sport shoes Wah~ nice~ Buy! $200+ gone~ Later, feel hungry, walk to a small scale cafe for simple dinner, Wah~ Yummy~ $20+ gone~ Sounds typical?That's $500+ gone in 1 day! And you want normal Singaporean to save from 21years old to 65 years old on a regular basis? Sounds very hard for anyone. As a rule of thumb, the min saving should be 20% of your monthly salary at least. Take examples of a 50 yr old guy 10+ years back, withdrawn all his CPF at 1 go (that time govt still allows almost all the withdrawn of CPF in the account except for medisave). The most possible scenario after 10+ years later: 1) Carefully use his money until he die 2) Share his money with his kids (assuming he have), and now living under his kids' roof 3) Spend all his money and now lives a begger like lifestyle. By the way, govt request all Singapore to buy amuntiy not insurance. There's a difference. Amunity pays one a monthly or yearly payout upopn reaching a certain age until one die or the maturity date. Insurance only pays if one meets with mishaps. Imagine that one have only 100k after reaching retirement age of 50 years and you need to spend 100k all the way until one die (could be 100 years old given that medical technology advances!) That's 2k per year or $5.48 per day. However, with inflation going up and up. Can you imagine that 50 years later a plate of chicken rice might cost you $25 or more!! Sit back and think and you will find the logic behind CPF.

It is citizen's money. But because Singaporeans are not clever with money, the Govt have rules to help. So help Govt to help you.

It's definitely not the citizen money, unless you give up the citizenship. On year 2007, the current PM increase the retirement age to 67 yr old, as his father still refuse to retire even at age of 85. So, by year 2037, will they increase the retirement age to 75 yrs old??? So, for young people, you can almost forget about getting your CPF money.

Government saving, to help in time of need. I Guess in the governments rules the need is their decision.

It's the people's money; Singaporeans and PR's and the government is helping to manage the money for purchasing a property, education, medical, for retirement purpose, and even death that will benefit our living family. Assume that the CPF is like a big bank in which the money cannot be withdrawn till age 55. At least, even if the people have no savings or being left by our children, we still have something to fall on to.

I can only say :Thanks to our Government (= As i do not wish my generation suffer (=

Its both. Win-win situation for all Singaporeans in their old age. If you really want to withdraw all.then no choice but to leave Singapore for good. http://mycpf.cpf.gov.sg/NR/rdonlyres/CE01AAAA-503A-492C-8BD9-D85E4870F821/0/CPFLM.pdf (Form to withdraw all your monies in case you are leaving Singapore) http://app.reach.gov.sg/reach/default.aspx (a place for you to voice out your strong opinion) Cheers!