Proposed changes strike a balance, say observers
Some doubt that letting people withdraw up to 20% of retirement account savings at age 65 was a good idea
Singapore
OBSERVERS have welcomed the proposals to offer higher payouts and flexible withdrawal options in Singapore's Central Provident Fund (CPF). On the whole, they said, the proposals strike a balance between maintaining the financial stability of the pension scheme and allowing for more flexibility, while making people more responsible for their choices.
However, some people interviewed by The Business Times wondered whether letting people withdraw up to 20 per cent of retirement account savings at age 65 was a good idea, especially when these savings would otherwise attract an interest rate that is commercially unbeatable.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Israel concerned over possible ICC arrest warrants related to Gaza war
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
G7 reaches deal to exit from coal by 2035
US, Britain urge Hamas to accept Israeli truce proposal
Saudi Arabia says economic revamp momentum intact as plans shift
German inflation creeps up to 2.4% in April