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When can we take out our CPF?

What is CPF?why cant i take out my CPF?

  • Answer:

    CPF is Central Provident Fund. It's supposed to be the people hard-earned money, but the Government are "helping" the citizen to save the money for retirement. Although it's the poeple hard-earned money, but the people have no say in the usage of this money. Only the Government can decide what is the purposes the money can be used for, such as buying house, investment, and etc. And the people also have no say on the withdrawal. As the Government can change the policy anytime to prevent the people from withdrawing the money even when you reach 55 yrs old. In short, CPF money is no different as a Tax paid to the Governement used to support the aging population.

Tan D at Yahoo! Answers Visit the source

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The Central Provident Fund (CPF) is a comprehensive social security savings plan that has provided many working Singaporeans with a sense of security and confidence in their old age. The overall scope and benefits of the CPF encompass the following: Retirement Healthcare Home Ownership Family Protection Asset Enhancement You may withdraw your CPF in full if you have left Singapore and West Malaysia permanently with no intention of returning to either country for employment or residence.

rhythm of the falling rain

CPF is a form of savings for your retirement, you can also use your CPF as an investment, you can get more details on 88db for financial investments using your CPF, so you won't only depend on your CPF when you retire as you have other sources of savings too, and you can only withdraw some money from your CPF when you reach 55

sure, you can if you are not a pr or singaporean or from the west malaysia (there is a loophole if you are an employment pass holder who has been contributing to the cpf through the old system. How do I know, coz i have a foreign friend who manage to withdraw all his cpf and yet still able to work here. Hee, hee,

pau

some called it the dead man chest so some believe it can not be taken out alive...............lol

kimht

It is enforced saving for your retirement years. You can only take out when you reach 55 at the moment. Govt going to raise this to 62 any time or more later.

peanutz

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