Allow CPF cash top-up withdrawal from age 55 as incentive
As it stands, Central Provident Fund cash top-ups are channelled to the CPF Life scheme even if the member meets the Basic Retirement Sum with a property pledge. To incentivise Singaporeans to make cash top-ups, I suggest that withdrawal of such top-ups be allowed anytime from age 55 if the member meets the Basic Retirement Sum.
As it stands, Central Provident Fund cash top-ups are channelled to the CPF Life scheme even if the member meets the Basic Retirement Sum with a property pledge. To incentivise Singaporeans to make cash top-ups, I suggest that withdrawal of such top-ups be allowed anytime from age 55 if the member meets the Basic Retirement Sum.
Some may now be put off by the fact that they can enjoy the fruits of their labour only from the payout eligibility age, which has risen over the years.
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