Dr Ho Ting Fei said there are compelling reasons for not extending the final payout age beyond 70 as statistics show the survival rates for Singaporeans drops steeply after 70
Two Singaporeans have urged the authorities to make full CPF payout to members by the age of 70, in separate forum letters published by the national broadsheet.
Singaporeans, however, have blasted the CPF Board and have asked why it did not set the automatic payout arrangement starting point to age 65 if all it wants to do is simplify the payout activation process.published on Saturday , medical doctor Dr Ho Ting Fei made the case for revising the current CPF payout mechanism.
“The payout at age 70 should include the entire Retirement Sum. The CPF Board should not hold on to the sums of every person who turns 70 and dispense it in monthly portions over the next 23 years until the person turns 93.
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