facebookPeople often think that CPF die die also cannot touch. Everyone knows there's a hack to get all the CPF money; that is to renounce citizenship. But why is it still less people are following this hack? - Seedly
Seedly logo
Seedly logo
 

Advertisement

Anonymous

18 Apr 2019

People often think that CPF die die also cannot touch. Everyone knows there's a hack to get all the CPF money; that is to renounce citizenship. But why is it still less people are following this hack?

3

    Discussion (3)

    What are your thoughts?

    Nicholes Wong

    Nicholes Wong

    11 Jan 2019

    Level 10·Diploma in Business Management at Nanyang Polytechnic

    They want to stay in Singapore but still want to take out CPF.

    OR

    They want to renounce but complain no money to move. (most likely dont save enough or spend too much everyday)

    Reply

    Save

    Share

      This is interesting, co-incidentally I have shared this hack in hwz forum yesterday.

      I believe the reasons people ignoring this “hack” are:

      1) They prefer to YOLO first than delay gratification, after all the money will be locked for 25-30 years before it becomes a meaningful sum to be withdrawed (assuming you renounce citizenship). However, it is always too late when they realise that it is time to top up cpf, then they start to complain govt for not helping the poor, the rest are history.

      2) They are afraid of govt will change the policy and ban lump sum withdrawa even you renounce citizenshi?

      3) They are confident that they can beat the cpf guaranteed interest by investing themselves. While I do not deny that there is a small group of investors who has no problem generating better returns from investment, one must be clear about the difference of risk levels between cpf and investment. Many simply ignore the risk taken, while criticising that the biggest risk is govt (conspiracy theory yeah).

      What makes me wonder is that they rather “save” in structured note or endowment plan (not saying these are not good), than trusting the bond with AAA rating.

      Reply

      Save

      Share

        Loh Tat Tian

        Loh Tat Tian

        11 Jan 2019

        Level 11·Founder at PolicyWoke (We Buy Insurance Policies)

        Maybe because, in their heart, they know they cannot move out of SG...

        Read 1 other comments with a Seedly account

        You will also enjoy exclusive benefits and get access to members only features.

        Continue with Facebook
        Sign in with Apple

        Sign up or login with an email here

        Write your thoughts

        Advertisement