01 Oct '11, 2am

Govt to allow more to work beyond 62 #Singapore

Another sweetener before they ask you to swallow the bitter pill. The way I see it, this is a prelude to extending the withdrawing of CPF at 55. Before that, they will extend the retirement age to 65 and justify the withdrawing of CPF to 58 or 60. Their justification is simple - since you are going to be working till 65, why do you need your CPF? Further, your earliest drawdown date for your Retirement Account begins at 65 at the earliest. So what a better way to hold on to your CPF right? For those who are below 50 now, you will be hit. CPF is the single biggest source of CHEAP capital for Temasek. Its growing every month since all of us contribute towards it. The fundamental reason why we have CPF is to save for retirement. But retirement age is llike a shifting goalpost now. For those who think this is a good move, think again. we have presidential scholars sitting ther...

Full article: http://sg.news.yahoo.com/govt-to-allow-more-to-work-beyon...

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Govt to allow more to work till 62 and beyond.

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