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#1
28-05-2014, 05:10 PM
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OK PAP relents.. no more minimum sum plus 30% bonus on your cpf funds at 55
An honorable member of the Coffee Shop Has Just Posted the Following:
So those who have $150,000 or less can now withdraw the whole lot at 55 and there's a 30% gratuity so that's $195,000 in total if you had $150,000. You're 55 which is the restored retirement age courtesy of PAP or the new government. You estimate you're going to live till 85... that's 30 years. You now have $195,000 in the bank. How are you going to budget for your retirement? If you draw $10,000 per year [$833 per month] of the above sum at 3% return, it will last 29 years so at 84, you have nothing left. Click here to view the whole thread at www.sammyboy.com. 
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